Soy Innovation Challenge 2022
Soybean oil demand is increasing as a feedstock for renewable energy, creating unique opportunities for soybean farmers. But an increase in oil demand comes with challenges, including excess crush capacity and an abundant supply of soybean meal. To help solve this challenge and create value for soybean meal in existing markets, the United Soybean Board (USB), and the Yield Lab Institute (YLI) launched the second Soy Innovation Challenge. This challenge will enhance the value of soybean meal in existing markets and uses, and target:
Innovations that increase use and value for soybean meal in animal agriculture, aquaculture, pet foods and soyfoods for human consumption
Innovations that advance the commercial viability of existing uses and segments in both food and feed spaces, overcoming the technical challenges of increasing soybean meal usage
Innovations that advance the transportability and storage viability of soybean meal.
The application period is open October 25 through December 6, 2022. USB and YLI invite ag-tech startups, project/research teams and groups to submit applications online. This includes entities that operate in the soybean meal value chain and have an innovative solution that can enhance known uses and markets of soybean meal. The challenge is sponsored by USB and Amazon Web Services (AWS). The selected teams will compete for:
$170,000 in cash prizes courtesy of the United Soybean Board
$5,000 in in-kind technical services and credits per finalist, courtesy of AWS
gene-editing, transgenic plant generation/transformation and other research services courtesy of Solis Agrosciences
All selected teams will receive mentoring and resources to help advance their ideas in the areas of technical, business and financial impact.