Now in its 10th year, 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 2024 Farm Bureau Ag Innovation Challenge. Now in its 10th 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 will award $165,000 in startup funds to 10 businesses, culminating at a live pitch competition and networking event at the AFBF Convention in January 2024 in Salt Lake City, Utah. The Ag Innovation Challenge Winner will be awarded $50,000 in startup funds provided by the contest sponsors.
Applications remain open through May 12, 2023.
Ten startup businesses, selected by Farm Bureau and the Farm Credit Rural Investment and Innovation Workgroup, will compete at the AFBF Convention in January 2024 as semi-finalists. These ten businesses will be awarded $10,000 each.
The ten semi-finalist teams will compete at the AFBF Convention on Friday, Jan. 19, to advance to the final round where the four finalist teams will receive an additional $5,000 for a total of $15,000. The final four teams will compete live in front of Farm Bureau members, investors and industry representatives to win:
Ag Innovation Challenge Winner, for a total of $50,000
Ag Innovation Challenge Runner-Up, for a total of $20,000
People’s Choice Team, for an additional $5,000
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 May 12, 2023 at 11:59 p.m.
Feature photo: 2023 Ag Innovation Challenge winners NORDEF
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