Factor E is seeking innovative solutions that reduce post-harvest loss for smallholder farmers in emerging markets. Innovative solutions are defined as technologies, business models, and/or software that have at least entered the pilot testing stage in either the lab or the field. The innovation must be used by farmers at the farm gate. Innovations can come from any geography globally but must have a global application in emerging markets especially in South East Asia or Sub-Saharan Africa.

About the Prize

The Post Harvest Loss Innovation Prize is seeking innovative solutions that reduce post-harvest loss for smallholder farmers in emerging markets. Funding from the prize is unrestricted. 

This prize offers more than just a $50,000 financial reward for the winning applicant. Finalists gain access to a network of experienced industry leaders and receive media exposure to showcase their innovation. The winner will also benefit from access to Factor E’s post investment support . Gain the resources and recognition you need to accelerate your agritech journey, grow your innovation, and create impact. 

Applications will be reviewed by the Factor E investment team, and the top five finalists will be announced on September 17th. The final award announcement will be on September 25, 2024.

How will applications be assessed?

Factor E prioritizes innovative solutions with the potential to create substantial impact within their target markets. While not all criteria are mandatory, evaluation of submissions will be based on the following key factors:

1. Innovation: The innovation must be for smallholder farmers. Submissions should demonstrate a novel approach to solving a problem faced by farmers in emerging markets. Innovative solutions are defined as technologies, business models, hardware and/or software that have the potential to become commercially viable.

2. Solution Validation: Factor E is seeking solutions that have undergone successful testing, either in a controlled laboratory environment or directly in the field.

3. Global Applicability: Innovations can come from any geography globally but must have relevance for direct application in South Asia and Sub-Saharan Africa with the ability to scale to other emerging markets in the future.

4. Gender Impact: Factor E prioritizes solutions with a demonstrably positive impact on female farmers. 

5. Scalability and Reach: The ideal solution should have a clear path to scale with significant commercial returns in the future. The technology should have a direct economic impact with the potential to empower over 1 million farmers and demonstrate future return on investment (ROI).

6. Farm-Level Implementation: The solution should be designed for use by farmers, not through retail channels.

7. Minimal Behavioral Change: Solutions with a low barrier to adoption are preferred. They should require minimal adjustments to farmers’ existing routines.

8. Financial Traction: Evidence of progress towards financial sustainability is a positive factor. Prior fundraising success is also considered.

9. Technology Readiness Level (TRL): Factor E looks for well-developed technologies at or beyond the validation stage, with preferably existing paying customers.

10. Founding Team: A strong, balanced, and diverse founding team with a proven and visionary leader (CEO) is crucial.

Eligibility

Applications may be submitted by any entity including startups, universities, non-profit organizations or for-profit companies.

Timeline

Request for applications begins Jun 26, 2024

Applications close Aug 14, 2024

Applications will be reviewed by the Factor E investment team from Aug 1, 2024– Sep 13, 2024

Applicants will be notified Sep 16, 2024

Finalists will be announced Sep 17, 2024

Award will be announced Sep 25, 2024

Submission

To ensure your application is considered, please submit it through the Google Form below by July 31, 2024:
Application Link: https://lnkd.in/e2p4zAB8

Apply Here