By The International Finance Corporation (IFC), a member of the World Bank Group, has announced its strategic partnership with Future Food Asia, a platform that showcases and supports agri-food tech startups in the Asia-Pacific region. IFC will join the jury panel for the Future Food Asia Awards 2024, along with Cargill, A*STAR, and ID Capital. The awards will recognize and reward 10 innovative and impactful startups that are addressing the challenges and opportunities in the agri-food sector.
Future Food Asia is a platform that aims to foster collaboration, catalyze investments, and support agri-food tech entrepreneurs in the Asia-Pacific region. The platform was launched in 2017 by ID Capital, a venture capital firm that focuses on agri-food tech in the region. Since then, Future Food Asia has organized annual events and awards that bring together startups, investors, corporates, researchers, and policymakers to exchange insights and ideas on the future of food.
The Future Food Asia Awards are the flagship program of the platform, which showcase and support the most promising and impactful agri-food tech startups in the region. The awards are open to pre-Series A startups that are based in the Asia-Pacific region, and that are addressing the problems and opportunities in the agri-food sector, such as food security, nutrition, sustainability, and inclusion. The awards offer a total prize of US$100,000 to the winner, as well as mentorship, exposure, and networking opportunities to all the finalists.
The Future Food Asia Awards 2024 will be held on May 15-16 in Singapore, as part of the Future Food Asia Conference, which will feature keynote speeches, panel discussions, and workshops on the latest trends and topics in the agri-food sector. The 10 finalists of the awards will pitch their innovations and solutions to the jury panel and the audience, and compete for the grand prize.
The IFC’s Role and Vision
The IFC is a leading financial institution that supports private sector development in emerging markets, with a focus on creating markets, mobilizing private capital, and delivering impact. The IFC has a portfolio of over US$12 billion in agribusiness, which covers the entire value chain, from farm to fork. The IFC also provides advisory services, technical assistance, and knowledge products to help agribusinesses improve their performance, sustainability, and resilience.
The IFC has joined the Future Food Asia platform as a strategic partner, and will be part of the jury panel for the Future Food Asia Awards 2024. The IFC will bring its expertise, experience, and network to the platform and the awards, and will help identify, evaluate, and support the most innovative and impactful agri-food tech startups in the region. The IFC will also share its insights and perspectives on the challenges and opportunities in the agri-food sector, and the role of technology and innovation in solving them.
The IFC’s vision is to help build a strong and vibrant agri-food tech ecosystem in the Asia-Pacific region, that can contribute to the global goals of food security, climate change, and social equity. The IFC believes that agri-food tech can be a key solution to help transform the agri-food sector, and to create sustainable, resilient, and inclusive food systems. The IFC also believes that supporting emerging technologies and entrepreneurs can help unlock the potential and the opportunities of the agri-food sector, and create value and impact for all the stakeholders.
The Benefits and Expectations of the Partnership
The partnership between the IFC and the Future Food Asia platform and awards is expected to bring mutual benefits and synergies for both parties, as well as for the agri-food tech ecosystem in the region. Some of the benefits and expectations of the partnership are:
- The IFC will provide its financial and technical support, as well as its global and regional network, to the Future Food Asia platform and awards, and help enhance their reach, impact, and sustainability.
- The Future Food Asia platform and awards will provide the IFC with access and exposure to the most promising and impactful agri-food tech startups in the region, and help facilitate their growth, scaling, and investment readiness.
- The IFC and the Future Food Asia platform and awards will collaborate and coordinate on various activities and initiatives, such as events, workshops, webinars, publications, and research, to promote and advance the agri-food tech sector in the region.
- The IFC and the Future Food Asia platform and awards will share their insights and learnings, and provide feedback and recommendations, to each other and to the agri-food tech community, to help improve and optimize the agri-food tech ecosystem in the region.