Fresh from rejuvenating its corporate venturing team, Syngenta has launched a new accelerator in a bid to uncover novel food protein products.
Agriculture services provider Syngenta has opened a protein-focused accelerator in alliance with early-stage venture capital firm Radicle Growth, SeedWorld has reported.
The accelerator, dubbed Radicle Protein Challenge, is both stage and geography-agnostic and includes $1.3m of prize funding for the top two participants.
The deadline for applications is on May 29. Participants will receive industry expertise from both of the accelerator’s sponsors, leading up to a pitch deck with a panel of judges in autumn 2020.
Kirk Haney, managing partner of Radicle Growth, said: “Recent Gallup data confirms that nearly a quarter of Americans are eating less meat than ever before. This has increased the demand for plant-based and cellular agriculture alternatives to traditional protein sources.”
The move comes after a refresh at Syngenta’s corporate venturing team, Syngenta Ventures.
Shubhang Shankar was promoted to managing director from investment manager in September 2019, before the hire of Mark Brooks earlier this year.