Nutrien Radicle Challenge awarding $1.25 million USD to foodtech companies

agtech

Agtech and foodtech companies have the chance to win $1.25 million USD in investment at the Nutrien Radicle Challenge Canada, which recognizes entrepreneurs at the seed and Series A stage.

“There is boundless potential in this region in ag and food.”
– Kirk Haney

Announced in May, the challenge is a partnership between Radicle Growth, a San Diego-based fund that invests in agtech and foodtech companies, and Saskatoon-based Nutrien, the largest produce of potash in the world. Companies will be competing for a $1 million USD investment, while seed stage companies will compete for a $250,000 USD investment.

“We need new ideas to feed a growing population and future generations,” said Kirk Haney, managing partner of Radicle Growth and one of the judges of the competition. “The Nutrien Radicle Challenge Canada brings together global leaders in agriculture and investment with the best new ideas for feed the future. It’s a history-making moment that we believe will change food production in Canada.”

Other judges for the competition include Chuck Magro, CEO of Nutrien; Mark Thompson, chief corporate development and strategy at Nutrien; Neil Gutterson, CTO of Corteva; Claudia Roessler, director of agriculture at Microsoft; and Steve Hansen, managing director of Raymond James.

“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. There is boundless potential in this region in ag and food,” said Haney. “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.”

The competition takes place from October 1 to October 2, with the winner being announced on day two. A shortlist of finalists is set to be announced this week.

Photo via Unsplash.

Jessica Galang

Jessica Galang

Freelance tech writer. Former BetaKit News Editor.