Funding Cargill teams up with start-ups
In May, the two organizations collaborated on a bootcamp in Munich to mentor and support eight teams of entrepreneurs with bold ideas for fighting world hunger. Now, they’re moving forward with additional funding and support for three start-ups:
- BioAnalyt – a portable tool to analyze the nutritional content of fortified food to ensure it carries critical nutrients to people suffering from “hidden hunger” – a deficiency in essential vitamins and minerals.
- Sanku – a nonprofit social enterprise that provides small-scale maize millers in Africa with smart technology to fortify their flour without passing the costs on to consumers.
- Humanitarian Topographic Atlas– an initiative to develop detailed, up-to-date maps to support field operations during responses to humanitarian crises.
Cargill has committed $ 550,000 to support the partnership. This includes up to $100,000 in equity-free funding for three selected start-ups, who will also get access to a global network of mentoring and support over the coming months as they enter a sprint program to hone their business models and test their ideas in the field.
Existing partnership is expanded
The partnership builds on Cargill and WFP’s existing relationship that dates back to 2001. To date, Cargill has provided more than $12 mill. to WFP to improve the health and nutrition of people in need around the globe.
In addition to the teams Cargill is funding, WFP is providing funding and support to another team that participated in the bootcamp. Edutrition is a digital game-based learning platform intended for school children, to promote nutrition education and behavior change while integrating physical activity in schools to address malnutrition, and nutrition-related non-communicable diseases.