UAE launches expanded $2M Global FoodTech Challenge at Clinton Global Initiative 2024 Annual Meeting during UN General Assembly

The UAE has launched the latest edition of the FoodTech Challenge at the Clinton Global Initiative (CGI) 2024 Annual Meeting in New York, during the UN General Assembly. This initiative, which addresses global food security challenges, focuses on innovative tech solutions aimed at transforming food systems in harsh environments.

By 2050, an additional 2 billion people will need to be fed worldwide. The FoodTech Challenge, organized by the UAE Presidential Court’s International Affairs Office and Tamkeen, seeks early-stage, tech-driven solutions to address these food security concerns. Supported by partners like the Bill & Melinda Gates Foundation, the CGI, ne’ma, and Silal, this year's competition offers a $2 million cash prize—its largest yet.

The challenge’s third edition targets three critical areas: food and water, food and energy, and food loss and waste. Four start-ups will win financial support, go-to-market assistance, and access to a vast network of partners. These start-ups will work to refine their solutions in the UAE and expand them to underserved markets in the Global South, contributing to global food security.

Her Excellency Mariam Almheiri, Head of the International Affairs Office at the UAE Presidential Court and Co-Chair of the FoodTech Challenge, emphasized the importance of agriculture and food production in addressing climate change, following COP28's landmark declaration. She stressed the need for innovative solutions in response to increasing food, water, and energy demands.

Rima Al Mokarrab, Chair of Tamkeen and Co-Chair of the FoodTech Challenge, highlighted the UAE’s commitment to innovation, emphasizing the importance of early-stage investment and partnerships in driving global food security progress.

Rodger Voorhies, President of Global Growth & Opportunity at the Bill & Melinda Gates Foundation, reiterated the urgency of tackling food insecurity, citing child malnutrition as one of the world’s most critical health crises. He expressed excitement about partnering with the FoodTech Challenge to drive agri-tech innovation.

Since its inception, the competition has attracted over 1,100 applications from 98 countries, with previous winners experiencing significant success. For example, Iyris (formerly Red Sea Farms) has raised over $34 million since winning and is now deploying its technologies in Abu Dhabi.

Applications for the FoodTech Challenge close on 12 December 2024, and finalists will be announced in April 2025. For more details, visit foodtechchallenge.com.