Type of Funding
FAMAE is inviting innovative inventors to submit ideas and solutions to the 2019-2020 Food for Good! FAMAE Challenge. Contestants must submit innovative, pragmatic and concrete solutions about delivering healthy and sustainable food to everyone in the world, from the field to the table.
A total of € 2,000,000 in prize money will be awarded, which is to be used for expenditures related to the project (i.e product development costs, people wages, marketing expenses).
The number of awards is not fixed, depending on the quality of the projects. The prize per category will be at least €15,000 and may reach nearly €2,000,000 since the Jury may decide to allocate the maximum amount of money to an exceptional project.
The prize is in the form of funding to cover project-related expenses such as IP protection, patent filing, product / industrial design, 2D / 3D blueprint making, prototyping, manufacturing, shipping, marketing, monitoring, IT, incorporating a legal entity, etc. The funding will be either in the form of a grant, an equity injection or a loan (with or without reimbursement).
Projects at any stage of development may be funded.
In addition to prize money, the selected project(s) will receive on going support from the members of FAMAE, its partners and from the Jury members, for the growth and development of their project. FAMAE will provide access to its extended business network of contacts and provide assistance on all matters, such as legal / trade and financial aspects, product development, sourcing of suppliers or product manufacturing.
Anyone may take part in this competition, be it be it an individual, a university, a governmental or regional or local organization, a for-profit organization (limited liability company, partnership, etc) or a not-for-profit organization (foundation, NGO, association, etc).
Applicants have to be organized as a legal entity in order to receive the funding.
The Project may address all aspects related to food: production (soil, biodiversity, vegetables, life stock, alternative proteins, etc), transformation and distribution (agribusiness, supply chain, retail, etc), consumption (fight against malnutrition, healthy food, changes in behavior, alternatives, etc), quality of food and methods of loss reduction, and so on.
Selection of winners will be based on innovation, feasibility, impact, capability to execute and quality of team.
Applications are to be done online by 14 February 2020.