Ento-Prize: an Insect Agriculture Pitch Challenge
Insect Agriculture startups have been alumni of many of the most respected Accelerator and Incubator programs and recipients of many well known pitch competitions around the world. Some have even garnered Seed, Angel and Series A funding in the Insects as Food category and Series B funding and acquisitions on the Insects as Livestock Feed side. There is promising research in further uses for insects such as biopolymers, biofuels, disaster relief, cosmetics, pharmaceutical, medical and military.
In Q3 2016, Persistence Market Research (PMR) releases a report on Insects as Food forecasting that, “in terms of value, the global edible insects market is anticipated to expand at a CAGR of 6.1% during the forecast period and is expected to account for US$ 722.9 Mn by 2024 end.” In Q3 2017, Market Research released a report forecasting the Insect Feed market to reach $1.07 billion in revenues in 2022, growing at a CAGR of 102.5% from 2017.
We think it’s high time the fledgling #BugAg sector had its own pitch challenge, to foster innovation and help grow the entrepreneurs building this rapidly growing industry into a more responsible agricultural system for the future, something better for people and communities, better for our animals and better for the planet than we currently have. By leveraging the companies that have shown the strongest growth in this industry, and the networks and resources they can now share, we expect to have strong support in launching the inaugural #EntoPrize Challenge in early 2019.
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