The 2023 Radicle Inclusion Challenge to invest $1.5 million in early-stage ag-tech companies to advance a sustainable food value chain
Nutrien, the world’s largest provider of crop inputs and services, and Radicle Growth have partnered to launch the “2023 Radicle Inclusion Challenge Presented by Nutrien” inviting early stage ag-tech companies to win their share of venture capital fund. The opportunity is open to worldwide Ag-Tech start-up firms.
The challenge aims to invest $1.5 million in early-stage ag-tech companies worldwide, led by or supporting underrepresented groups while advancing a sustainable food value chain. The Inclusion Challenge will focus on less than 3% of US venture capital invested in women, Black, Indigenous, and People of Color entrepreneurs. The challenge is expected to unpack insights and challenges historically underrepresented groups face.
The Inclusion Challenge aims to assist diverse groups in agriculture by attaining venture capital and access to resources that could help bring their technologies to market. Following the success of the 2022 Inclusion Challenge, Nutrien, and Radicle Growth decided to partner again to create a more sustainable food value chain while advancing diversity and inclusion. Two winners will receive an investment of $750,000 each and will gain access to Radicle’s company-building platform that may be used to help accelerate their growth.
The data from the 2022 Inclusion Challenge revealed that founders from underrepresented groups typically lack the resources, mentors, and capital needed to put their ideas into practice. The data highlight a need for the industry to continue to address diversity and inclusion in agriculture. Kirk Haney, Managing Partner at Radicle Growth, said, “As an industry, we need to bring new, diverse viewpoints. The Radicle Inclusion Challenge has proven to be a great way to find the best and brightest ag-tech entrepreneurs from anywhere in the world.”
The Inclusion Challenge expects to measure impact and provide market intelligence in the area of inclusion and diversity in ag-tech in a way that provides valuable insights into how underrepresented groups get access to the resources they need to be successful.
