The UAE has launched the FoodTech Challenge 3.0, offering a total cash prize of $2 million, at the Clinton Global Initiative 2024 Annual Meeting in New York, coinciding with the UN General Assembly.

Her Excellency Mariam Almheiri, Co-Chair of the FoodTech Challenge, emphasized the critical role of innovative solutions in addressing climate change and food security.

The competition aims to support tech-driven solutions to enhance global food security, particularly as the world prepares to feed an additional 2 billion people by 2050.

This year's challenge has expanded its focus to three key areas: food and water, food and energy, and food loss and waste, with four winning start-ups set to receive funding and support.

The four winning start-ups will not only receive cash prizes but also go-to-market support and access to a network of partners to scale their innovative solutions in the UAE and underserved markets in the Global South.

In its previous editions, the FoodTech Challenge attracted over 1,100 applications from start-ups across 98 countries, showcasing innovative technologies such as carbon-negative protein and AI-driven food waste reduction.

Past winners of the challenge have successfully raised significant funding, with Iyris, a previous winner, raising over $34 million since its participation.

The FoodTech Challenge is organized by the UAE's International Affairs Office and Tamkeen, in partnership with the Bill & Melinda Gates Foundation and other organizations.

Applications for the current competition will close on December 12, 2024, with finalists to be announced in April 2025.

Rima Al Mokarrab highlighted the necessity of innovation, partnerships, and early-stage investment to drive transformative outcomes in food systems.

Rodger Voorhies from the Gates Foundation stressed the urgent need for innovative solutions to combat food insecurity and malnutrition, issues exacerbated by climate change.

Almheiri reiterated the importance of agriculture in addressing climate change and ensuring food security, particularly in resource-limited environments like the UAE.