Radicle Growth, a company-building platform investing in early-stage agriculture and food technologies, is delighted to announce, "The Radicle Corn Value Chain Challenge sponsored by US Corn Farmers." The Challenge sets out to invest a minimum of US $1.5M in start-up and growth companies from around the world whose innovative technologies and business models create new uses for corn and long-term sustainable demand for corn production. These companies are expected to be developing new uses of corn that result in replacements for fossil fuel-derived materials with plant-derived materials such as sustainable aviation fuels (SAF), drop-inchemicals and plastics, compostable materials, and as yet unidentified products and product categories that could be new areas for corn-derived products to be used.
“The Radicle Challenge is a wonderful opportunity to work towards generating new markets for corn through innovative commercial ventures so the South Dakota Corn Utilization Council is proud to support it,” said Jim Ketelhut, South Dakota Corn Utilization Council President and farmer from Pukwana, SD. “In addition, with its focus on cutting-edge commercial uses for corn not currently being utilized, the added certainty of demand for future corn markets would be a long-term benefit if successful.”
Corn is grown on nearly 100 million acres in the United States. Approximately 48% of corn production is used for animal feed, 30% is used for biofuels, and 22% is for exports and other uses. Corn production is typically responsible for more than $80B of annual value in the United States. Corn farmers across the Midwest produce the bulk of that corn, assuring the vitality of rural communities and driving this economy, and agricultural and downstream market trends are impacting that growth engine. In addition to new demand from new uses, more sustainable corn production systems overall will enhance the demand for any new bio-product in a highly competitive marketplace. With the continuing revolution in AI, biotechnology, and new business models throughout the corn value chain, we anticipate identifying companies able to modify the corn crop, biological and thermochemical processing of the corn crop, high-value health applications, sustainable fuels, and sustainable bioproducts.
“Driving new demand for U.S. corn is a top priority for NCGA and its state partners,” said Harold Wolle, National Corn Growers Association president. “We’re proud to partner with supporting states on this innovative challenge as another way NCGA is working to find new uses for corn and provide sustainable product solutions for consumers.”
Kirk Haney, Managing Partner of Radicle Growth, said: "Feeding and providing plant-based materials for our growing population is paramount. We recognize that to transform our agriculture system and advance solutions in the food and industrial value chains sustainably, we need to find new technologies working to create new uses for corn. We are excited about the opportunity to benefit US corn farmers by finding and funding the best entrepreneurs worldwide who solve these issues."
A minimum of US $1.5 million investment will be made in The Radicle Corn Value Chain Challenge to one or more winners to accelerate their growth. Apply now at https://radicle.vc/the-radicle-corn-value-chain-sponsored-by-us-corn-farmers/
Investment decisions will be made during a "Pitch Day" in the Fall of 2024. A judging panel of industry experts will hear from 4 finalists who will be chosen from the global applicant pool. In addition to the funding, the winners will also get access to advice from both corn industry experts and Radicle senior executives to help accelerate their company's business and technical efforts.
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