The SA Innovation Summit and Anza Capital have joined forces to launch the Foodtech Programme, in search of foodtech start-ups.
This comes amid growing concerns of food security and scarcity, with the price of food products such as sunflower oil and grains having reached sky-high levels, contributing to rising inflation worldwide.
According to a statement, the Foodtech Programme aims to identify and support small, fast-growing businesses and start-ups working to provide solutions in the food value chain.
In addition, it will provide a platform for seed to series A start-ups transforming the landscape in the food value chain in SA to gain exposure, scale and become sustainable businesses, while ensuring a sustainable food supply for communities.
The selected start-ups will stand the chance to access R7 million in investments, participate in the SA Innovation Summit in Cape Town from 27 to 29 September, and pitch in the WIE Innovation Awards 2023 in Davos, Switzerland, it states.
Says Buntu Majaja, CEO of the SA Innovation Summit: “The SA Innovation Summit believes that African entrepreneurs build the continent and, as an innovation platform, we exist to connect them to resources that support them to achieve this.
“Our proud partnership with Anza Capital [seeks] to address one of the biggest questions for the Africa rising narrative. Which is: How can it be that a meal at an inexpensive restaurant in Zambia costs seven times more than the same in the United Kingdom when accounting for GDP per capita? We believe that talented and innovative foodtech start-ups will contribute to raising accessibility for food security.”
Van-Lee Gunyere, head of investments at Anza Capital, adds: “Close to 20% of the world population lives in Africa, and yet Africa only accounts for less than 2% of the global agri-foodtech investment in 2021, according to agfunder.com, leading to missed untapped opportunities by lack of early-stage seed capital.
“Anza Capital, collaborating with the SA Innovation Summit, aims to provide foodtech innovative entrepreneurial ventures with access to growth capital that can help them take off.”
Applications close on 24 July. To enter the Foodtech Programme, click here.
Alternatively, interested start-ups can e-mail competitions@innovationsummit.co.za for more information.
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