As part of the Milken-Motsepe Innovation Prize programme, the competition will ask teams to demonstrate their entries in field tests.
As part of the Milken-Motsepe Innovation Prize programme, a multi-year initiative to channel entrepreneurial minds and investors towards developing technological solutions with a spotlight on Africa, the agri-tech prize is now accepting applications.
The Milken-Motsepe Prize is a global competition rewarding innovative solutions to increase economic value with a prize of $2 million. The programme will encompass a variety of technology prize competitions in different fields such as energy, education, and health, and will commence with agriculture.
The agritech competition will be selecting 25 teams to receive $10,000 to go towards developing small-scale prototypes, over the following six months.
During the final rounds of the competition, teams must demonstrate their entries in field tests, before the judges award a $1 million grand prize, in addition to prize money distributed among second and third place winners. Additionally, a prize is on offer for the most creative use of Fourth Industrial Revolution technologies, and a People’s Choice Prize.
“Fourth Industrial Revolution technologies have the power to solve complicated socio-economic and human problems. In the hands of entrepreneurs, these technologies can turn Africa into a global economic powerhouse and transform the world,” said Dr. Patrice Motsepe, founder and chairman of the Motsepe Foundation.
Teams have until December 8 to register, submit designs and business models.