The Water and Energy for Food (WE4F) Asia Enhancing Development and Growth through Energy (EDGE) Ag-Energy Prize seeks business owners and entrepreneurs in Southeast Asia with game-changing innovations operating at the nexus of renewable energy, and agriculture.
The prize competition will spur, recognize, and reward outstanding enterprises from both youth innovators and mid-stage businesses in the Southeast Asian footprint. The prize competition aims to:
- Identify and fund promising innovators at the nexus of renewable energy and agriculture;
- Explore market activity about the nature, progress, and scale of small and growing enterprises in the region; and
- Improve awareness of WE4F and Asia EDGE development initiatives among the business community.
The Prize is open to mid-stage businesses and youth innovators. Applicants will be judged on their understanding of the problems within the sector, the potential social impact of their innovation, the viability of their business model, and their ability to target markets at the base of the pyramid.
The Prize includes a $355,000 cash prize purse for winners and runners-up, travel sponsorship to participate in the Clean Asia Energy Forum in Manila, the Philippines in June 2020, and customized acceleration services from the WE4F Asia Regional Hub.
In addition, 10 mid-stage and 5 youth innovator prize finalists will benefit from recognition on the WE4F website, communications materials, and travel support to participate in a co-creation workshop in Bangkok, Thailand in March 2020 to discuss challenges and opportunities in the renewable energy, and agriculture nexus in Asia.
Mid-Stage Enterprises Eligibility
- To be eligible for the mid-stage prize, enterprises must have existing services or products in the renewable energy – agriculture nexus. Enterprises with unit costs of $100 or less must have a minimum of 2,500 customers; while enterprises with a unit cost of greater than $100 must have a minimum of 1,000 customers to be eligible.
Youth Innovators Prize
- For the Youth Innovators Prize, applicants must be under the age of 30 with a pre-revenue or post-revenue business model innovation in the renewable energy – agriculture nexus. The company must have a working prototype or minimum viable product along with a demonstrated BOP market segment being targeted, and be registered and operating within the countries in section.
Applicants will be judged on:
- Understanding of the problems within the sector
- Potential social impact of their innovation
- Viability of the business plan
- Ability to target markets on the base of the pyramid
The open application period for the WE4F Asia EDGE Ag-Energy Prize has now closed.
To access the recording of the Informational Webinar that was hosted on January 7th, click the following link for the recording.
To access the transcription of the Informational Webinar that was hosted on January 7th, click the following link for the transcript.
WHO WE ARE
The Water and Energy for Food (“WE4F”) Challenge Fund is a partnership among the U.S. Agency for International Development (USAID), Sweden through the Swedish International Development Cooperation Agency (Sida), and the Ministry of Foreign Affairs of the Kingdom of the Netherlands.
Through WE4F and in accordance with the Sustainable Development Goals, the partners aim to accelerate innovations that will strengthen value chains in renewable energy for food that will lead to improvements in energy and water efficiency as well as to improve climate-resilient agriculture in developing countries.