Nutrien has joined forces with Radicle Growth, a San Diego-based acceleration fund focused on agtech and food tech, to launch the Nutrien-Radicle Challenge Canada – a US$1.25-million ag innovation competition.
The Challenge will identify and invest in Canadian entrepreneurs who are using groundbreaking technologies to solve ag and food challenges. Growth-Stage companies will compete for a US$1-million investment and Seed-Stage companies for a US$250,000 investment. Applications are open until June 28.
In addition to the financial benefits, winners will have access to the Radicle and Nutrien platforms to accelerate company and product development in these sectors. The challenge is designed to drive innovation in Canada, and accelerate the speed of development for entrepreneurs in ag and food.
“Nutrien is a strong supporter of Canadian agriculture innovation, and we are excited to partner with Radicle to help enable the important work of entrepreneurs across the agriculture value chain. This partnership will result in financial support for start-ups and help accelerate the delivery of new solutions to farmers around the world,” says Chuck Magro, President & Chief Executive Officer, Nutrien.
After entries close in June, up to six finalists will be identified in each of the two categories, and invited to a Pitch Day Competition in Saskatoon, Saskatchewan in early October, where they will present their proposals to a leading panel of judges. Radicle has held several similar competitions in recent years, but this is the first time the Radicle Challenge has been focused on Canada.
“Canada’s GDP generated from agriculture and agri-food is more than the national GDP of two-thirds of the world’s countries at more than $110 billion each year (according to Agriculture and Agri-Food Canada). There is boundless potential in this region in ag and food,” says Kirk Haney, Managing Partner of Radicle Growth. “We are thrilled to have partnered with one of the largest ag companies in the world to provide this opportunity to Canadian entrepreneurs. The Radicle Challenge concept has been incredibly successful because it not only provides much-needed capital for entrepreneurs, but also brings a partner to the table with deep ag expertise.”
Visit Nutrien-Radicle Challenge Canada for more information.