The Institute of Food Technologists (IFT) is accepting applications through Jan. 10 to participate in its second annual IFTNEXT Food Disruption Challenge, a business pitch ultimately held at the annual IFT Food Expo.
The Food Disruption Challenge is designed to help emerging and investment-ready food companies gain visibility and make strategic connections.
"It was a great opportunity to tell our story to a variety of impressive influencers and business leaders in the food industry," says Sumit Kadakia, co-founder of Renewal Mill and winner of the first Food Disruption Challenge, held this past July.
Finalists will be selected in two stages, with six finalists chosen to participate in a six-week mentoring program where they will receive guidance from business experts. From there, finalists will be chosen to present their innovations in a pitch competition at IFT19 in New Orleans on June 4, 2019. A panel of judges representing the food and related industries will select the winner, awarding a $25,000 cash prize.
Attendees at the 2019 challenge will be asked to select a People's Choice awardee for a cash prize of $5,000. In addition to the cash awards, services and products for entrepreneurial advancement are involved.
Criteria are:
- The startup company's primary business focus needs to be in the food science or technology domain and may cover any component of technology that enhances the science of food.
- The entrepreneur/organization must be an operating and registered entity as either a proprietary firm, partnership firm, limited liability partnership or private limited in the country they are representing.
- The company must be in business, have a product or service clearly defined and must be in the Pre-Series A Round (seed stage).
There is no cost to participate in Stages 1-3 of the competition. Costs may be incurred for finalists attending the pitch competition. All applications must be submitted by Jan. 10, 2019. See ift.org/fooddisruption or contact [email protected].
