Bluegrass AgTech Development Corp Challenge Grant Program – US

The Bluegrass AgTech Development Corp (BADC) intends to work with agricultural producers, agtech and foodbased businesses, and research programs desiring to innovate and improve their current technology on and off the farm.

Focus Areas

• Ag for the Middle — Small or mid-sized agricultural operations in Kentucky could benefit from new tools and advancements that are developed for their scale of operations. This could also include projects that improve access to markets for small producers and processors.
• Resilient Regional Food Systems — Kentucky’s existing agtech and food economy make it primed to be both resilient to supply chain disruptions and to meet increasing consumer demand for sustainably produced local foods. This could include projects that improve the sustainability, production, processing, or distribution of high-quality products for local markets.
• Food is Health — There is a need to promote better nutritional and health outcomes through healthy foods as well as to develop new opportunities for farmers to contribute to pharmaceuticals and functional food ingredients. This could include products and offerings that improve health outcomes for consumers and could ultimately provide for strong collaboration with the healthcare sector, particularly in rural communities.
• Future-Proof Meat & Dairy — Protein production and supply chains must align with consumer preferences to bring continued value to producers. This could include unique approaches to supporting and improving product differentiation, efficiency, sustainability, or welfare to ensure the future of animal protein production in Kentucky.
• Kentucky Traditions — Kentucky’s global leadership position in the distilled spirits and equine industries is often recognized, along with their diverse crop and livestock production sectors. This may include projects that grow and support these traditional sectors, specifically with consideration to their impact on farms and agribusinesses. Additionally, many nationally and globally known food brands reside within Kentucky and could benefit from advances in supply chain management and technologies for retailing and restaurants.

Funding Information

• Applicants to the Competition will be considered by a panel of judges for a monetary grant award if they are selected. The maximum award amount per applicant is $100,000 and will require matching funds supplied by the applicant on a dollar-for-dollar basis. The BADC Challenge Grant Committee may consider in-kind application of salaries or wages attributable to the project toward matching funds.

Eligibility Criteria 

• Applicants must be a registered, startup business, such as a corporation or limited liability company (LLC).
• Applicants may be in the early, growth or late stages of development with a product, service, or technology that may or may not be commercially available but has potential to grow into a sustainable business.
• Applicants not currently located in Kentucky need to be willing to establish a presence within the state for a minimum period of 5 years if selected for an award.
• Awardees from the immediate past grant round will not be eligible for the next successive round but will be eligible for future rounds of grant funding.

Ineligible Applicants

• The competition excludes non-scalable businesses, non-profit organizations, investment vehicles that invest in the securities of other entities, residential real property and retail ventures, sports venues, gaming and gambling businesses, places of overnight accommodation, entertainment-related establishments, and such other types of business may reasonably determine to be inconsistent with the purposes of this competition as determined by The BADC Challenge Grant Committee. Also excluded are businesses or products that do not or cannot meet an identified need within the food and/or agtech sectors

Judging Criteria

• Relevance to and Potential to Impact the Challenge Focus Areas
  • Demonstration that the submitted product, service or technology addresses a critical issue that impacts Kentucky’s ag and food sectors and has potential to improve profitability, sustainability, or resiliency of Kentucky’s agricultural and food economy.
• Viability of Commercialization and Business Model
  • Generation of revenue and utilization of a cost structure that allows for a competitive and sustainable business; demonstrated readiness of the applicant’s technology or innovation to fulfill its needed value proposition.
• Team
  • Demonstration of a level of cohesion, completeness, diversity, and readiness within the team of founders, employees, and advisors.
• Customer Value
  • Provision of significant value for customers for which they are willing to pay, addressing a substantial market.
• Agriculture and Food Innovation
  • Leading and supporting innovation in food and agriculture to propel Kentucky toward being a global leader in agtech.
• Growth Potential
  • Ability to generate significant growth, as measured and assessed by economic growth and the potential for profitable returns.
• Job Creation
  • Potential for creation and retention of high-quality jobs in Kentucky.

For more information, visit Bluegrass AgTech Development Corp.