Future Food Asia is empowering startups in the foodtech and agritech sector with the $100,000 award and funding.Tenzin Norzom
Two Indian startups have made it to the final of the Future Food Asia competition and will vie with eight others for the grand prize of $100,000. The announcement comes two weeks ahead of the Future Food Asia conference that will be held on June 3 and 4 in Singapore.
The two Indian finalists in the competition are Jai Kisan and Satsure.
Started in 2017, Mumbai-based Jai Kisan works as a platform to connect farmers, vendors and financiers, facilitating the farmers with yield generational equipment with a flexible credit option. The startup aims to empower farmers in rural India.
Founded in 2016, Bengaluru-based Satsure leverages advances in satellite remote sensing, machine learning and big data analytics to help make better decisions in the agricultural practices. With their space data, the startup aims to make practices in agriculture more predictable.
Startups from other countries in the final list are AgNet (China), Biotelliga (New Zealand), Inong Agriculture (Taiwan), MPT AgTech (Australia), RapidAIM (Australia), SaliCrop (Israel), The Wave Talk (South Korea), and UlikeKorea (South Korea).
Indian agritech startup Intello Labs along with three other winners from South Korea, Singapore and US will receive the Startup SG Prize of $50,000 each.
Founded in May 2016, Gurugram-based Intello Labs is a deeptech startup that uses Artificial Intelligence and multi-spectral tools to make monitoring and grading solutions for food commodities. Its image-based solutions, are in the form of smartphone apps, bring transparency and standardisation to the assessment process in food supply chains, reducing value risk and wastage from farm to fork.
All the finalists and winners will present their innovations to investors, industry leaders and domain experts with Ong Keng Yong, Singapore’s Ambassador-at-Large as the guest of honor.
Isabelle Decitre, Founder and CEO of ID Capital that started Future Food Asia competition, said,
“The line-up of finalists and winners evidences the wide range of technologies that can address some of the most critical challenges of the food supply chain. It is also interesting to notice how Artificial Intelligence is emerging as distinctive feature of the region’s propositions.”
In an official statement, Future Food Asia said that ADB Ventures will award market expansion pilot funding up to $250,000 to select finalists with high-impact sustainable agriculture solutions. ADB Ventures is among new partners this year along with others like Alibaba Cloud.
There were more than a hundred contenders from 13 different countries in the Asia Pacific region.