Grow-NY Food and Agriculture Business Competition - Round III

Grow-NY Food and Agriculture Business Competition

An unprecedented business competition focusing on enhancing the emerging food and agriculture innovation cluster in Central New York, the Finger Lakes, and Southern Tier regions of New York State. The competition attracts high-growth food and agriculture startups from around the world.

Award Structure:

• Top Prize: $1,000,000 (1 winner)
• Second Tier: $500,000 each (2 winners)
• Third Tier: $250,000 each (4 winners)
• Total Prize Pool: $3,000,000
• Winners also receive tax incentives and publicity support

Geographic Scope: 22-county Grow-NY region comprising:

• Finger Lakes: Genesee, Livingston, Monroe, Orleans, Ontario, Seneca, Wayne, Wyoming, Yates
• Central New York: Cayuga, Cortland, Madison, Onondaga, Oswego
• Southern Tier: Broome, Chemung, Chenango, Delaware, Schuyler, Steuben, Tioga, Tompkins

Focus Areas:

• Food and agriculture innovation
• Emerging food and agriculture startups
• Job creation in the region
• Industry ecosystem development

Eligibility:

• Early-stage food and agriculture businesses/startups
• Winners must commit to operating in at least one of the 22 Grow-NY counties for at least 12 months
• Diverse founders encouraged (29% of 2020 applicants had female founders, 32% had founders from underrepresented minorities)

Selection Process:

• Up to 20 finalists selected from applications
• Finalists assigned mentors and enter business development phase
• All finalists receive:
  • Bespoke entrepreneurial support
  • Regional introductions
  • Additional training for live pitches
  • Expenses-paid, three-day business development trip to region (up to 2 team members)
  • Presentation opportunity at Grow-NY Summit

Judging Criteria:

1. Viability of Commercialization and Business Model
2. Team (cohesion, completeness, readiness, diversity and inclusion)
3. Customer Value
4. Food and Agriculture Innovation
5. Regional Job Creation

Background:

• Round I & II combined generated 460+ applications from 32 states and 37 countries
• 37 finalists selected to date with 14 winners sharing $6 million in prior funding
• Winners attracted $11 million in follow-on funding from Series A rounds and NSF grants
• Round I million-dollar winner Real Eats named top meal delivery service by Forbes; now employs dozens in region
• Funded through Governor Cuomo's Upstate Revitalization Initiative (CNY Rising, Finger Lakes Forward, Southern Tier Soaring)
• Administered by Cornell University through its Center for Regional Economic Advancement

Contact Information:

• Website: www.grow-ny.com
• Cornell Center for Regional Economic Advancement: https://crea.cornell.edu/

Application Process

1. Submit application with business plan and pitch materials
2. Selection: Up to 20 finalists chosen from all applications
3. Finalists phase:
   • Assigned mentor
   • Enter business development phase (September-November)
   • Receive entrepreneurial support and regional introductions
   • Attend training to refine live pitch
   • Participate in expenses-paid three-day business development trip (up to 2 team members)
4. Final competition: Present business plans at Grow-NY Summit (November)
5. Awards announced at summit

Required Materials:

• Business plan
• Pitch materials
• Information demonstrating fit to judging criteria

Note: Specific application questions and detailed submission requirements not provided in source material.