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Hind Al Soulia - Riyadh - Foodtech challenge awards $1 million grant to four startups
Wamda • 18 November, 2020
Four startups were selected to share a $1 million grant as part of the Tamkeen Foodtech Challenge. Out of 12 finalists, it was Saudi Arabia-based Red Sea Farms, UAE-based QS Monitor, Austria’s Has Algae and UK-based SafetyNet Technologies who were awarded with the grant.
In addition to the cash prize, the winning startups are set to join the UAE-based Catalyst accelerator.
“The Foodech Challenge helps us deliver our long-term commitment to achieving greater food security in the UAE. These types of cross-border collaborations are key to enhancing a certain degree of self-sufficiency and improving our efforts toward sustainability. Throughout the competition we have seen a number of new and promising ideas emerge which can contribute towards tackling global food security challenges,” said Mariam bint Mohammed Almheiri, UAE Minister of State for Food and Water Security.
“As the winners embark on the next phase of their journey, we are excited to see their solutions implemented and scaled in the UAE,” she added.
Launched jointly by the UAE Food Security Office and Tamkeen in September 2019, the international competition has been on a mission to scout for innovative, commercially viable solutions to address UAE’s food security and water scarcity challenges and promote sustainable agriculture.
In total, the Foodtech Challenge received more than 400 proposals from over 60 countries.
“Seeking solutions to the world’s greatest challenges through innovation and technology defines the UAE’s forward-looking approach to development and diversification. I am delighted that the Foodtech Challenge has generated such compelling entrants, and its winners are set to help drive the UAE’s food security and sustainability for years to come,” said Rima Al Mokarrab, chairman of Tamkeen.
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