Applications are being accepted until June 15 for the annual Grow-NY food and agriculture competition.
Grow-NY connects innovators and investors in the food, beverage and agriculture sectors from across the globe. Startups compete for $3 million in prize money, as well as support during the development phase of their business.
There is a $1 million grand prize, two runner-up prizes of $500,000 and four awards of $250,000. Winners must commit to operating for at least one year in one of the 22 Grow-NY counties in the Finger Lakes, Southern Tier and Central regions and also commit to a pay-it-forward equity-agreement provision.
Funding is provided by Empire State Development and is administered by Cornell University’s Center for Regional Economic Advancement.
“The fifth round of the Grow-NY agribusiness accelerator will help to build on the incredible success of earlier competition winners whose entrepreneurial ideas are fueling the economic growth Upstate,” Hope Knight, Empire State Development president, CEO and commissioner, said in a news release.
“These innovative companies have attracted significant investment throughout the Grow-NY region and around the world, and I can’t wait to see what the next crop of selected, forward-thinking entrepreneurs will bring to the table.”
Visit the Grow-NY website for more information, and to apply. Applications are due by 5 p.m. on June 15. The 20 finalists will be selected in August, and will make their “Shark Tank” style pitches for top prizes at the Grow-NY Summit Nov. 14 and 15 in Binghamton.
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