FoodFrontiers: Urban Food System Innovation Challenge, 21
- Project Name: FoodFrontiers: Urban Food System Innovation Challenge, 21
- Client: Bangladesh SUN Business Network
- Other Stakeholders: The Global Alliance for Improved Nutrition (GAIN), World Food Program (WFP), Nutrition Connect, Bangladesh Youth Environmental Initiative (BYEI), National Association of Small and Cottage Industries of Bangladesh (NASCIB)
- Partners: Steller Value Partners Ltd., Golpo Communications Ltd.
- Project Duration: May 2021 to July 2021
- Project URL: https://www.facebook.com/foodfrontiers2021
Food Frontiers is an innovation challenge for rising youth entrepreneurs to bring disruptive innovation in the food system targeted to rapidly growing urban areas of Bangladesh.
Project Overview
The Global Alliance for Improved Nutrition (GAIN) and the UN World Food Programme (WFP) have collaborated to launch the Scaling Up Nutrition (SUN) Business Network (SBN) Bangladesh, which has launched an innovation challenge for rising youth entrepreneurs to bring disruptive innovation to the urban food system.
The Competition convened on May 2021 and has ended in July 2021
The winners have got pre-seed money of up to $15,000 in order to put their business ideas into action through grants and infrastructure support.
Objectives
The objective of this innovation challenge was:
- -Identify disruptive innovations in the urban food system of Bangladesh
- – Build the capacity of youth entrepreneurs on a sustainable food systems approach and business skills for managing social enterprises
- -Co-design business models that are geared towards improving the nutrition outcomes of the urban food system
- -Building a pipeline of pre-seed investments for disruptive innovative ideas or endeavors for the urban food system of Bangladesh
Targeted Startups
The youth entrepreneurs with their fresh ideas and dynamic energy have the potential to shift the food system towards a sustainable path.
The solutions had to be fall under the following three broad thematic areas concerning the urban food system:
- Circular Food Flow Economy: To design food to cycle, so the by-products from one enterprise provide input for the next.
- Disruptive Technological Innovation: To bring digital and technological innovation for food in an urban context.
- Innovative Marketing Campaigns: To build smart marketing campaigns to promote healthy food consumption or reduce food waste or increase energy efficiency in food systems.
Benefits for the Top 10 Participants
- Customized Bootcamp Curriculum
- Industry-Specific Business Building Guidance
- Investment Readiness Training
- Industry Leader and Investor Connection
- One to One Consultant from Seasoned Mentors
- Meet Successful Foodpreneurs
- Ongoing Support from SBN and GAIN
- Access to National Food Service
Rewards for Top Three:
The top three participants shortlisted from the final pitching session will be rewarded with the following:
1st Winner:
- USD 10000 equivalent purchasing equipment and infrastructure support from NASCIB
- USD 2500 SBN Bangladesh innovation award in cash
2nd Winner:
- USD 7500 equivalent purchasing equipment and infrastructure support from NASCIB
- USD 1500 SBN Bangladesh innovation award in cash
3rd Winner:
- USD 5000 equivalent purchasing equipment and infrastructure support from NASCIB
- USD 1000 SBN Bangladesh innovation award in cash