March 15, 2022

US AFBF welcomes applications for 2023 Farm Bureau Ag Innovation Challenge

The American Farm Bureau Federation (AFBF), in partnership with Farm Credit, is seeking entrepreneurs to apply online for the 2023 Farm Bureau Ag Innovation Challenge.

Now in its ninth year, the national business competition showcases US startup companies developing innovative solutions to challenges faced by farmers, ranchers and rural communities in the United States.

Farm Bureau is offering US$165,000 in startup funds throughout the course of the competition, which will culminate in the top 10 semi-finalists competing in a live pitch competition in front of Farm Bureau members, investors and industry representatives at the AFBF Convention in January 2023 in San Juan, Puerto Rico.

"Innovation is at the heart of everything farmers and ranchers do," said AFBF president Zippy Duvall. "The Ag Innovation Challenge is an outstanding avenue for identifying and supporting startup businesses striving to solve the problems facing rural America. I look forward to seeing the innovative, resourceful and creative solutions that challenge applicants submit."

Applications remain open till April 29, and the 10 semi-finalist teams will be announced on September 13. Each of the semi-finalist teams will be awarded US$10,000 and a chance to compete to advance to the final round where four teams will receive an additional US$5,000 each.

Prior to the live pitch competition, the top 10 semi-finalist teams will participate in pitch training and mentorship from Cornell University's SC Johnson College of Business faculty and network with representatives from the US Agriculture Department's Rural Business Investment Companies.

Recent winners of the Ag Innovation Challenge include Grain Weevil Corporation, a grain bin safety and management robot that improves farmer well-being by controlling risks and costs (2022 Ag Innovation Challenge Winner) and Harvust, a software platform that helps farmers successfully hire, train and communicate with employees (2021 Ag Innovation Challenge Winner).

- AFBF