Ag Innovation Challenge
Fueling Rural Innovation: Win $165,000 in the Farm Bureau Ag Innovation Challenge!
The Farm Bureau Ag Innovation Challenge is a national business competition that showcases U.S. startups developing innovative solutions that address challenges facing America’s farmers, ranchers and rural communities. The Challenge was the first national business competition of its kind focused exclusively on rural entrepreneurs.
Now in their tenth year, the American Farm Bureau Federation in partnership with Farm Credit, are looking to identify the top entrepreneurs who are addressing both traditional challenges farmers face on their operation, such as access to labor, optimizing yield and reducing operating costs, to entrepreneurs who are addressing new challenges facing farmers and rural communities.
Farm Bureau will award $165,000 in startup funds to ten businesses, culminating at a live pitch competition and networking event at the AFBF Convention in January 2024 in Salt Lake City, UT. The Ag Innovation Challenge Winner will be awarded $50,000 in startup funds provided by our sponsors.
The competition process has been great…the exposure, the relationships, the networking, has been wonderful. And we’ve gotten to meet a lot of great people who have only validated our idea and our business model — Will Walls, NORDEF
Prizes
Farm Bureau will award $165,000 to ten businesses:
$50,000 will be awarded to the 2024 Ag Innovation Challenge Winner
$20,000 will be awarded to the 2024 Ag Innovation Challenge Runner-Up
$15,000 will be awarded to two finalist teams
$10,000 will be awarded to six semi-finalist teams
Additional $5,000 to the People's Choice Team (chosen by public vote; all ten teams are eligible)
Ten startup businesses, selected by Farm Bureau and the Farm Credit Rural Investment and Innovation Workgroup, will compete at the AFBF Convention in January 2024 as semi-finalists. These ten businesses will be awarded $10,000 each.
The ten semi-finalist teams will compete at the AFBF Convention on Friday, Jan. 19, to advance to the final round where the four finalist teams will receive an additional $5,000 for a total of $15,000. The final four teams will compete live in front of Farm Bureau members, investors and industry representatives to win:
Ag Innovation Challenge Winner, for a total of $50,000
Ag Innovation Challenge Runner-Up, for a total of $20,000
People’s Choice Team, for an additional $5,000
