The World Food Prize Foundation, in collaboration with America’s Cultivation Corridor, is launching the Innovate for Impact Challenge, a pitch competition for early-stage agricultural technology startups. The foundation announced the initiative Wednesday during the 2024 Norman E. Borlaug International Dialogue.

The challenge aims to support startups with solutions that address global food security issues, including agricultural productivity and sustainability, a news release said.

Startups from around the world are eligible to apply. Applicants must be early-stage, for-profit companies and at least one founder must be working full time on the venture. Particular attention will be given to those aligned with the United Nations Sustainable Development Goals and the World Food Prize Foundation’s mission to combat hunger, the release said.

Companies will be judged on their innovation impact, market potential, contribution to sustainability, performance, scalability and replicability.

A panel of five judges will select 10 finalists, and the top three will be invited to pitch their solutions live during the 2025 Borlaug Dialogue. The judges will award $50,000 for first place, $10,000 for second place and $5,000 for third place.

Applications for the Innovate for Impact Challenge will open in February 2025.