22 August, Ha Noi – The Grow Asia Innovation Challenge, a leading initiative of the Food Innovation Hub in Viet Nam (FIH-V) is partnering with digital agri-food pioneers to revolutionize climate-resilient agriculture across Viet Nam and Southeast Asia.
Launched by Grow Asia and Beanstalk AgTech, with support from the International Fund for Agricultural Development (IFAD) and Korea's Ministry of Food, Agriculture, and Rural Affairs (MAFRA), the innovation challenge is seeking ready-to-scale, climate-smart solutions for smallholder farmers that will speed up digitalization, that will improve marketability for low-emissions agri-products like rice; and establish the foundation for a carbon marketplace that will incentivize participation in carbon credit programs for sustainable agriculture in the region.
A Food Innovation Hub Initiative
The Grow Asia Innovation Challenge is a new initiative of Viet Nam’s Food Innovation Hub, which serves as a vital ecosystem to mobilize innovators, scientists, and international experts who are solving complex problems that exist in value chains that are critical to food security. Designed by Grow Asia and the World Economic Forum and established by Viet Nam’s Ministry of Agriculture and Rural Affairs, Southeast Asia’s first Food Innovation Hub will act as a catalytic platform to accelerate the transformation of the region’s agricultural sector to adapt to climate challenges and transition to more profitable, sustainable value chains. In the first instance, the Food Innovation Hub in Vietnam is playing an important role in the country’s 1 million-hectare High-Quality Low-Carbon Rice Project, as announced by the Prime Minister in December 2023 through vital exchange of knowledge and innovation.
"I am thrilled to see the positive response to this Innovation Challenge, which is attracting some high-quality, ready-to-scale solutions for small-scale farms that lie at the heart of Viet Nam’s agri-food economy. Grow Asia is proud to be partnering with Viet Nam's Ministry of Agriculture and Rural Development and their new Food Innovation Hub as we continue to work with WEF and the Partnership for Sustainable Agriculture in Viet Nam (PSAV) to accelerate the transition to a low-carbon future," shared Grow Asia’s Executive Director, Beverley Postma.
"Viet Nam aspires to become a regional leader in food innovation by expanding international cooperation in research and developing solutions that promote long-term agricultural sustainability and economic growth. Our Food Innovation Hub (FIH-V) is central to this mission, and we are proud to support the Innovation Challenge in fostering innovation and collaboration to empower smallholder farmers, enhancing their productivity and resilience,” shared Dr. Nguyen Do Anh Tuan, Director General of International Cooperation Department, Viet Nam’s Ministry of Agriculture and Rural Development.
Calling agtech innovators
Innovators worldwide with a strategic interest in driving climate resilience in Southeast Asia are encouraged to apply. Leveraging Grow Asia's convening power and Beanstalk AgTech's digital expertise, this challenge is uniquely positioned to develop and accelerate market-ready digital climate-smart agriculture technologies. For more information, visit Grow Asia Innovation Challenge.
"The Grow Asia Innovation Challenge aims to scale transformative digital technologies to 12,000 farmers across Vietnam, Cambodia, and the Philippines over the next two years. This initiative will fundamentally improve the productivity and livelihoods of agri-SMEs and smallholder farmers across Southeast Asia," said Chrissa Borja, Head of Programs, Grow Asia.
Justin Ahmed, Director of Beanstalk Agtech, emphasized, "This program is strategically positioned to help innovators gain a comprehensive understanding of growth opportunities in Southeast Asia. Our primary role is to ensure they engage in the right conversations with the right partners, increasing the likelihood of delivering high-quality innovations capable of driving significant advancements in climate-smart agriculture."
"We invite innovators globally to submit their solutions that will transform climate-smart agriculture. The challenge will help put a spotlight on scalable and effective innovations, creating a pathway for them to be commercialized by interested investors and accelerators," added Chrissa Borja.
About Grow Asia
Grow Asia was established by the World Economic Forum, in collaboration with the Association of Southeast Asian Nations (ASEAN), in 2015 to bring together governments, the private sector, non-governmental organizations (NGOs), and other key stakeholders in the region to convene, facilitate, and scale efforts that promote more inclusive, resilient, and sustainable food systems.
It does this by brokering commercial and non-profit partnerships at the field, level, regional, and global levels between more than 719 public, private, civil society, academic, and farmer organizations that make up the Grow Asia Network. This catalytic network creates an ecosystem that supports knowledge sharing, collaboration, innovation, and policy change.
To date, we have reached over 3.4 million smallholders and small rural enterprises. Through 5 Country Chapters and 44 value chains, our collective effort has increased farm incomes by $81 million a year for selected value chains and enabled 633,866 farmers to adopt new technologies, finance, and insurance.
Grow Asia’s work is characterized by four operating principles:
Smallholder-focused, keeping the farmer at the center of all initiatives and investments.
Country-led and locally-driven, owned by stakeholders and aligned with national plans, strategies, and goals.
Multi-stakeholder and inclusive, engaging government, private sector, international organizations, civil society, farmer organizations, and others.
Market-based, focusing on catalyzing and expanding sustainable, inclusive investments and market-based activities.