Entrepreneurs Can Win $50,000 in 2023 Ag Innovation Challenge

News / Newsline March 15, 2022

Credit: AFBF Photo - Philip Gerlach 

The American Farm Bureau Federation wants to help rural entrepreneurs move their company forward. Micheal Clements tells us companies can now apply for the Ag Innovation Challenge.

Clements: The American Farm Bureau Federation, in partnership with Farm Credit, is seeking entrepreneurs to apply online for the 2023 Farm Bureau Ag Innovation Challenge. Emma Larson, AFBF Director of Industry Relations, encourages rural entrepreneurs to apply.

Larson: The Ag Innovation Challenge is a national business competition that showcases U.S. startups that are developing innovative solutions for American farmers, ranchers and rural communities. Applications are open now through April 29, and we will be announcing the top 10 semi-finalists teams on September 13. And the winner will be receiving $50,000 in prize money and some bragging rights as well.

Clements: Participants receive what Larson calls an invaluable experience.

Larson: They do receive one-on-one mentorship from Cornell University and other incubators. They gain national exposure, they're able to network with other agribusinesses, the rural business investment community, as well as Farm Bureau membership. So, understanding how their innovation impacts folks at the farm gate level, and making sure that their business addresses challenges that farmers and ranchers are facing.

Clements: Larson says the challenge also helps rural communities.

Larson: These businesses are able to take this prize money and invest it into their business, that will help create jobs, help stimulate the local economy. So, it's a really great thing that Farm Bureau has been involved in and look forward to seeing which businesses we can feature in 2023.

Clements: Learn more and apply online at fb.org/challenge. Micheal Clements, Washington.

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