MassChallenge is looking for startups or organizations that have solutions and a proven technology in the area of Sustainable Food & Feed Solutions, Sustainable Supply Chain & Manufacturing, Sustainable Packaging, and Agri Tech that together with our corporate partners can reduce their CO2 emissions and feed the forecasted 9.8 billion population sustainably on the planet in 2050.
MassChallenge believes startups and corporations can help this effort. Startups can play a unique role in bringing new disruptive ideas to the table. Corporations can play a critical role in scaling these ideas and bringing benefits to society quickly.
The Startups They Are Looking For?
- In 2023 they will open up the Challenge again; their partners: Bühler Group, Givaudan, Nestlé, DSM, Louis Dreyfus Company, and Südzucker, are looking for startups or scaleups, with proven solutions or technologies in the areas of Sustainable Food & Feed Solutions, Sustainable Supply Chain & Manufacturing, Sustainable Packaging, and Agri Tech.
Benefits for The Selected Startups
- Startups and Corporate Partners engage together to drive change toward a sustainable world and lead global impact. This Challenge allows them to work together, create a joint pitch, and scale up innovative solutions, faster than they could alone.
- All startups participating in the Challenge will get:
- A direct pathway to multi-national corporations: If shortlisted by their partners, MassChallenge will introduce you to representatives of the partners, including senior R&D, open innovation managers, sustainability executives, and business unit heads. You will talk to the right stakeholders in these organizations, you will have their full attention from the start, and will explore ways to collaborate with them.
- The ability to scale your technology with them: After the initial meeting they foresee a detailed sharing of information, most likely covered by a Non-Disclosure Agreement, and then the creation of a joint pilot to evaluate the scaling potential of the product. Startups could then become suppliers to the corporation, partners in some form of venture, or receive investment. Every step is totally at the corporation and startup’s discretion, and there is no obligation to proceed unless the startup and corporation wish.
- Publicity and more connections: each corporate partner will invite one of the startups that they shortlisted to their flagship event, the MassChallenge Sustainable Food Solutions Challenge Day, in May 2023. There, the startups invited will present their solutions to all of their corporate partners, resulting in more connections and the potential to work with other corporates. This event will be subject to press releases from MassChallenge and some of their corporate partners, providing visibility to the startups.
How The Challenge Works?
- Relevant applicants will be presented to partner corporations;
- Selected startups will be invited to meet with R&D, open innovation, sustainability executives, and business unit heads for further discussion and to evaluate the potential for collaboration;
- They expect that this will result in proof of concepts, partnerships, and investments for several of the startups;
- In addition to the above, each partner will select one start-up to pitch their joint collaboration idea at the MassChallenge Sustainable Food Solutions Challenge Day in May 2023 where all of their corporate partners will attend. This will be a physical event in Switzerland;
- It is anticipated that partners and startups will then work together to scale the startups’ ideas through the partners’ businesses.
- They are looking for startups and scaleups that:
- Have a product or idea at the prototype stage or with a working proof of concept backed by data (ie Technical Readiness Level 5, where the technology has been validated in a relevant environment).
- Are a strategic fit with their partners. In the application form, startups can note which specific partner(s) are a strategic fit for their solution. When discussing with a partner what’s important is an openness to collaborate and scale your idea.
- Are from seed to series C+. What’s important is that your product is at least at the prototype stage or with a working proof of concept backed by data. You may already have some sales & traction. This enables them to validate that there is a need for your product and that you’re ready to work with their corporate partners. The next step is to work with the corporate partner to scale your technology.
- Have Impactful, Viable, and Scalable ideas:
- Impactful: to massively benefit society by extracting value whilst reducing the CO2 footprint & emissions of the entire food value chain;
- Viable: be able to demonstrate traction amongst consumers; manufacturers, and their supply base (including farmers);
- Scalable: be able to scale at agricultural, manufacture, distribution, or disposal stage of food production.
- Are from any geography. However, note that their partner corporations are headquartered in Europe, so physical collaboration would be mostly in Europe. Startups should ensure they are able to travel to Europe for discussions.
Deadline: 6th January 2023
Also Read: Other Opportunities to Apply