May 15, 2023Farm Bureau Ag Innovation Challenge deadline bumped
The American Farm Bureau Federation and Farm Credit have extended the deadline for the 2024 Farm Bureau Ag Innovation Challenge.
Now in its 10th year, this national business competition showcases U.S. startup companies developing innovative solutions to challenges faced by America’s farmers and rural communities.
The deadline is now May 26 for entrepreneurs to apply online.
Farm Bureau is offering $165,000 in startup funds throughout the course of the competition, which will culminate in the top 10 semifinalists competing in a live pitch competition in front of Farm Bureau members, investors and industry representatives at the AFBF Convention in January 2024 in Salt Lake City, Utah.
“Start-up companies like those we recognize through the Ag Innovation Challenge play an important role in the future success of American agriculture,” AFBF President Zippy Duvall said in a news release. “Farmers are committed to the mission of providing the food, fuel and fiber we all rely on but our journey of continuous improvement is powered by innovation.”
Will Walls, team lead with NORDEF, the 2023 Ag Innovation Challenge winner, shared insights from his experience participating in the contest.
“The competition process has been great — the exposure, the relationships, the networking, has been wonderful,” Walls said in the release. “We’ve met a lot of great people who have validated our idea and our business model.”
NORDEF developed technology to produce diesel exhaust fluid at the point of use.
The 10 semifinalist teams will be announced Sept. 12. Each of the semifinalists will receive $10,000 and a chance to compete to advance to the final round, where four teams will receive an additional $5,000 each. The final four teams will compete to win:
- Farm Bureau Ag Innovation Challenge Winner, for a total of $50,000
- Farm Bureau Ag Innovation Challenge Runner-up, for a total of $20,000
- People’s Choice Team selected by public vote, for an additional $5,000 (all 10 semi-finalist teams compete for this honor)
Examples of successful Ag Innovation Challenge participants, as well as detailed eligibility guidelines and the competition timeline, can be found at fb.org/challenge.
Entrepreneurs must be members of a county or parish Farm Bureau within their state of residence to qualify as top 10 semifinalists. Applicants who are not Farm Bureau members can visit https://www.fb.org/about/get-involved#join to learn about becoming a member.
Applications must be received by 11:59 p.m. Eastern Daylight Time on May 26.