Biotech company takes home $1 million Grand Prize for the advancement of AgriTech in Africa
JOHANNESBURG, GAUTENG, SOUTH AFRICA, May 2, 2023/EINPresswire.com/ — The Milken Institute and the Motsepe Foundation today announced the winners of the Milken-Motsepe Prize in AgriTech, the first of a series of multiyear, multimillion-dollar innovation competitions and programs to advance technological progress toward the UN Sustainable Development Goals (SDGs). The prizes were awarded at the Milken Institute Global Conference in Los Angeles, California. Watch The Milken-Motsepe Prize in AgriTech Award Announcement and Reception here: https://vimeo.com/event/3309149
NovFeed, a biotech company based in Tanzania, was awarded the $1 million grand prize for its proprietary technology to upcycle organic waste into nutritious, sustainable, and traceable plant-based protein ingredients and concentrated natural biofertilizer for the food system.
The $300,000 award for second place was presented to Karpolax, a Uganda-based company, for its nanotechnology solution that helps fruits and vegetables stay fresh longer without losing nutritional value. The $150,000 award for third place was presented to IRRI-AfricaRice for its biotech innovation to help rice farmers protect their crops from flooding, one of the most damaging effects of climate change.
Bonus prizes of $100,000 each were also announced. Kuronga, based in South Africa, took the bonus prize for most creative use of Fourth Industrial Revolution technologies for its machine learning and machine vision mobile app, using AI to connect farmers with buyers and making it easier to validate quality of crops. COOL LION, a Côte d’Ivoire-based start-up that provides cooling-as-a-service solutions for different industries (agriculture, fisheries, etc.) and powered by renewable energy, took home the People’s Choice bonus prize for the most transformative idea according to the public.
“Varied solutions were considered during the competition, and this contributes to current and future efforts to understand and resolve challenges facing agriculture,” said Dr. Precious Moloi-Motsepe, co-founder and CEO of the Motsepe Foundation. “Making progress towards the SDGs is crucial. We are truly impressed by the participants’ ideas and thank each of them for their dedication to finding viable and scalable solutions.”
“The winners exemplify the fact that bold, scalable, transformative ideas can come from anywhere,” said Dr. Emily Musil Church, senior director at the Milken Institute Center for Strategic Philanthropy. “Bringing talent to the fore and supporting entrepreneurs is an intentional goal of the competition. It doesn’t end there. The expanded network of investors and stakeholders built into the program offers the winning teams continued opportunities to innovate and thrive.”
After launching the competition in April 2021, more than 3,300 people from 105 countries across six continents registered for the Milken-Motsepe Prize in AgriTech. An independent panel of expert judges carefully selected 25 finalist teams to receive $10,000 to develop and test their innovations to improve economic value for small and medium-sized farms in Africa. Each of the teams took part in a rigorous, independent judging process, which assessed their innovation’s potential to increase farm productivity and/or decrease post-harvest loss.
Teams also received a variety of special benefits, including participation in a tuition-free, experiential learning program offered by Global Innovation Catalyst in collaboration with Stanford Online, where they received mentoring from industry experts, pitch coaching, and feedback sessions.
The Milken-Motsepe Innovation Prize Program has continued to grow, launching a second competition, the Milken-Motsepe Prize in Green Energy in November 2022. The Prize in Green Energy is a $2 million innovation competition to reward entrepreneurs and innovators who expand access to reliable, affordable, and sustainable electricity in Africa.
For more information, about the winners of the Prize in AgriTech, and the Milken-Motsepe Innovation Prize Program, visit https://milkenmotsepeprize.org.
ABOUT THE MILKEN INSTITUTE
The Milken Institute is a non-profit, nonpartisan think tank focused on accelerating measurable progress on the path to a meaningful life. With a focus on financial, physical, mental, and environmental health, we bring together the best ideas and innovative resourcing to develop blueprints for tackling some of our most critical global issues through the lens of what’s pressing now and what’s coming next. For more information, visit milkeninstitute.org.
ABOUT THE MOTSEPE FOUNDATION
The Motsepe Foundation was founded in 1999 by Dr. Patrice Motsepe and his wife, Dr. Precious Moloi-Motsepe. The goal of the Motsepe Foundation is to contribute towards eradicating poverty and to sustainably improve the living conditions and standards of living of poor, unemployed and marginalised people in South Africa, Africa and the world. In January 2013, Dr. Patrice Motsepe and Dr. Precious Moloi-Motsepe joined the Giving Pledge, which was started by Warren Buffet and Bill and Melinda Gates. Dr. Patrice Motsepe and his wife committed to give half of their wealth to the poor and for philanthropic purposes during their lifetime and beyond. For more information, visit motsepefoundation.org.
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The Milken-Motsepe Prize in AgriTech Award Announcement and Reception
Article originally published on www.einpresswire.com as The Milken Institute, Motsepe Foundation Announce Winners of The Milken-Motsepe Prize in AgriTech