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2023 Ag Innovation Challenge to award startup funds
This national business competition showcases U.S. startup companies developing innovative solutions to challenges faced by America’s farmers, ranchers and rural communities.
The American Farm Bureau Federation, in partnership with Farm Credit, is seeking entrepreneurs to apply online for the 2023 Farm Bureau Ag Innovation Challenge. Now in its ninth year, this national business competition showcases U.S. startup companies developing innovative solutions to challenges faced by America’s farmers, ranchers and rural communities.
Farm Bureau is offering $165,000 in startup funds throughout the course of the competition, which will culminate in the top 10 semi-finalists competing in a live pitch competition in front of Farm Bureau members, investors and industry representatives at the AFBF Convention in January 2023 in San Juan, Puerto Rico.
“Innovation is at the heart of everything farmers and ranchers do,” said AFBF President Zippy Duvall. “The Ag Innovation Challenge is an outstanding avenue for identifying and supporting startup businesses striving to solve the problems facing rural America. I look forward to seeing the innovative, resourceful and creative solutions that Challenge applicants submit.”
Applications remain open through May 13, and the 10 semi-finalist teams will be announced Sept. 13. Each of the semi-finalist teams will be awarded $10,000 and a chance to compete to advance to the final round where four teams will receive an additional $5,000 each.
Prizes
The final four teams will compete to win:
- Farm Bureau Ag Innovation Challenge Winner, for a total of $50,000.
- Farm Bureau Ag Innovation Challenge Runner-up, for a total of $20,000.
- People’s Choice Team selected by public vote, for an additional $5,000 (all 10 semi-finalist teams compete for this honor).
Prior to the live pitch competition, the top 10 semi-finalist teams will participate in pitch training and mentorship from Cornell University’s SC Johnson College of Business faculty, and network with representatives from USDA’s Rural Business Investment Companies.
Recent winners of the Ag Innovation Challenge include Grain Weevil Corporation, a grain bin safety and management robot that improves farmer well-being by controlling risks and costs (2022 Ag Innovation Challenge Winner) and Harvust, a software platform that helps farmers successfully hire, train and communicate with employees (2021 Ag Innovation Challenge Winner). Other examples of successful Ag Innovation Challenge participants, as well as detailed eligibility guidelines and the competition timeline can be found at the challenge website.
Entrepreneurs must be Farm Bureau members to compete to qualify as top 10 semi-finalists.
Deadline: Applications must be received by 11:59 p.m. on May 13, 2022.
Online Extra
Grain Weevil Corporation Wins 2022 Ag Innovation Challenge
Photo caption: Ben Johnson, a Nebraska Farm Bureau member, is team lead with Grain Weevil Corporation, the 2022 Ag Innovation Challenge winner.
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Through its policies it brings together people in the agricultural community and invests in building vibrant communities that support agriculture.
If it wasn't for Farm Bureau, I personally, along with many others, would not have had the opportunity to meet with our representatives face to face in Washington, D.C.
If you have issues with local planning or have legal questions, someone at the Farm Bureau has the answer for you, or they’ll connect you with someone who does.
As a member of Farm Bureau, I am glad that this organization takes action when necessary to protect and advance agriculture.
Farm Bureau is an incredible organization that has given me countless professional development opportunities in addition to advocating for all sizes and types of farmers.
We go to a lot of Farm Bureau events, and there’s a lot of camaraderie built because you’re meeting with people who have similar interests and goals.
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