Rabobank’s Food Loss Challenge Asia declares top five finalists
Winner to be selected on 15 November 2018
Inaugural Asia-based open innovation challenge aiming to identify innovative AgTech startups to help solve global farm-to-market food loss problems
Winner will be awarded at Rabobank’s annual Asia Food & Agribusiness advisory board meeting in Singapore on 15 November 2018 following pitches by the five finalists
Rabobank Asia and Rabo Foundation join hands to deliver Rabobank’s mission of Growing a Better World Together
SINGAPORE, 31 OCTOBER 2018 – Rabobank announced the five finalists amongst 20 of its Asia-based Food Loss Challenge initiative, jointly spearheaded by Rabobank Asia and Rabo Foundation.
The initiative aims to identify innovative AgTech (agricultural technology) startups to help solve global food loss problems.
The five finalists are CropIn Technology Solutions, Eachmile Technologies, Ecozen Solutions Pvt Ltd, Elixia Tech Solutions Ltd and Pula Advisors. They were selected at the recently held Pitch Day hosted in Singapore. Besides vying for the five spots in the Finale, the Pitch Day provided also opportunity to connect the startups to other startups, potential investors and other stakeholders. The teams presenting were diverse with most of their solutions showing a strong market orientation and adoption of technology and data analytics to help reduce food loss in an innovative way.
The top five finalises will present their food loss solutions to a panel of judges at Rabobank’s annual Asia Food & Agribusiness advisory board meeting on 15 November 2018 in Singapore.
The panel of judges will include Rabobank Asia and Rabo Foundation, as well as partners of Rabobank such as Archer Daniels Midland Company, Charoen Pokphand Group, Olam International, Temasek and UPL Ltd.
Diane Boogaard, CEO of Rabobank Asia, explained:
“As the world’s population continues to grow rapidly, the demand for food is set to rise considerably, causing food availability to be an unneglectable concern especially in Asia where the population is projected to grow over 5 billion by 2050.
“Food loss is another alarming issue particularly in South and Southeast Asia where around 59 per cent of food produce is spoiled or damaged before making it to the dining table.
“This was why we initiated the Food Loss Challenge Asia, in partnership with our clients, to identify and help develop startups with innovative solutions to contribute to our commitment to helping halve food loss by 2020.”
Albert Boogaard, Head of Innovation of Rabo Foundation, added:
“In today’s technology-enabled world, we put innovation at the core of what we do. We continuously look for new ways to help our clients grow enough food to feed the world’s growing population sustainably.
“Through the Food Loss Challenge, we look to identify partners to develop innovative solutions to address pain points along the post-production food and agribusiness value chain across logistics, storage and refrigeration to help alleviate food loss.
”We are impressed by the sophisticated solutions presented at the Challenge. We are particularly encouraged by the high quality ideas geared around what and how consumers and smallholders can pay for and benefit from.”
Mark van Binsbergen, CEO of Rabobank Singapore, concluded:
“Benefitting from its geographical advantage of being at the heart of Southeast Asia and the access to technology, Singapore is a logical starting point for our inaugural Food Loss Challenge.
“We are pleased to see in the submissions their ability to integrate innovative technology and enhance interconnectedness along the value chain. We are glad to have found likeminded individuals who are also passionate about helping to ‘growing a better world together’ – a mission that guides what we do at Rabobank.”
Inaugurated in August 2018, the initiative received 127 submissions from 29 countries across Asia, Africa, Middle East and Europe. Each finalist has been awarded with a USD$1,000 prize and will present their proposals at Rabobank’s annual Asia Food & Agribusiness advisory board meeting on 15 November 2018 in Singapore, where a Jury’s Prize of USD15,000 and an Audience Prize of USD5,000 will be awarded to the winners.
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The five finalists of Food Loss Challenge Asia are (in alphabetical order):
CropIn Technology Solutions (www.cropin.com) - An intuitive, intelligent, self-evolving system that delivers future-ready farming solutions to the entire agricultural sector. With capabilities of live reporting, analysis, interpretation and insight that span across geographies, their solution digitizes every farm, while data-managing the entire ecosystem.
Eachmile Technologies (www.eachmile.co) - Uses mobile technology to provide fishers and farmers the data they need to improve their livelihoods, and connect each link of otherwise fragmented supply chains.
Ecozen Solutions Pvt Ltd (www.ecozensolutions.com) - Provides renewable energy-based products that can store and transport perishables along the value chain.
Elixia Tech Solutions Ltd (www.elixiatech.com) - Provides comprehensive and customised solutions for transportation, logistics and supply chain management across industries by converting accurate and real-time data actionable business intelligence.
Pula Advisors (www.pula-advisors.com) - Develops and distributes bundles of financial and agronomic services for smallholder farmers. The bundle includes agricultural inputs, insurance and precision agronomic advisory.
ABOUT FOOD LOSS CHALLENGE ASIA
The Food Loss Challenge will see start-ups pitch their ideas to reduce food loss to food & agri industry leaders and investors. The Challenge takes on the global problem of food loss, keeping an eye on the target of UN Sustainable Development Goal 12.3, which aims to halve food loss by 2030. With the world's population expected to reach nine billion by 2050, curbing waste and loss will play a crucial role in meeting increased demand for food. The Challenge is supported by Rabo Foundation and Partners of Rabobank who all want to contribute to Rabobank’s mission of Growing a better world together including Archer Daniels Midland Company, Charoen Pokphand Food PLC, Olam International and Temasek and UPL Ltd.
With our roots in the Netherlands and Food & Agri, Rabobank is an international financial services provider with activities in 38 countries in the field of retail banking, wholesale banking, private banking, leasing and real estate. Measured by Tier 1 capital, Rabobank Group is one of the world's largest financial institutions with high credit ratings by all rating agencies. As an industry leader in environmental, social and governance (ESG), Rabobank is ranked as an ESG Leader by Sustainalytics, placing Rabobank in the top-5% of its industry peers.
Our mission is “Growing a Better World Together”. With our knowledge, networks and financing capabilities we aim to further motivate and facilitate clients in adopting a more sustainable food production practice globally. We do this by concentrating our efforts on four most pressing food issues together with our clients, partners and colleagues worldwide: increasing the availability of food, improving access to food, promoting a balanced nutrition and increasing stability of food supply chains.
Read more about our vision for global food security at www.rabobank.com.
ABOUT RABO FOUNDATION
Rabo Foundation is Rabobank’s social fund. The Foundation invests in the self-sufficiency of farmer organizations in Africa, Asia and Latin America, by putting up finance and by sharing the cooperative, banking and agricultural expertise that the Rabobank Group has built up over many years. This helps the organizations to achieve their goals of offering small-scale farmers access to financing, savings opportunities, knowledge and new markets.
Read more about Rabo Foundation at www.rabobank.com/rabobankfoundation.
Find out more about the Food Loss Challenge Asia at www.foodlosschallenge.asia.