The application window is now open for round five of the Grow-NY food and agriculture competition. Grow-NY, a unique initiative that connects innovators and investors in the food, beverage, and agriculture sectors locally and around the globe, has resulted in economic growth and entrepreneurial opportunity in upstate New York.
The Grow-NY region, a 22-county area spanning Central New York, the Finger Lakes, and the SouthernTier, has already seen the addition of more than 200 new jobs and millions of dollars in follow-on investment as a result of the competition. Grow-NY attracts high-growth food and agriculture startups to compete for $3 million in total prize money each year and supports 20 finalists through a business development phase that connects them with the region’s resources.
Winners are required to commit to operating in at least one of the 22 Grow-NY counties for at least 12 months and must agree to a “pay-it-forward” provision in the form of an equity agreement.
One finalist will receive a top prize of $1 million; two others will be awarded $500,000 prizes; and four more will be given $250,000 prizes. Winners will also receive publicity support to announce
their achievements across the Grow-NY region and in their home regions. Funding for the program comes through Empire State Development from the Upstate Revitalization Initiative’s three
regional entities, CNY Rising, Finger Lakes Forward, and Southern Tier Soaring, and is administered by Cornell’s Center for Regional Economic Advancement.
“The Grow-NY food and agriculture competition helps to boost our upstate economy and spread the word that New York State is a great place to make some of the best, freshest, most innovative products in the world.”
Past Grow-NY winners have continued to raise money, expand, and succeed. Soos, Year Two grand prize winner, set up and staffed an R&D facility at a poultry farm in Central NY, and is working with technicians in collaboration with Syracuse University to expand their technology. Year Three grand prize winner, Every Body Eat, is on the shelves of Whole Foods Market stores around the United States, while the $500,000 Year Four winner, Hempitecture, recently became the first company to open an industrial hemp manufacturing facility in the U.S.
In addition to emphasizing innovation and scalability, the Grow-NY program is focused on drawing more diverse leaders to the region by reaching communities that have historically been left out of the innovation economy. In 2022, 75% of the 390 applicants included a founder from an underrepresented minority group, and 38% included a female founder.
State Agriculture Commissioner Richard A. Ball said, “The Grow-NY food and agriculture competition helps to boost our upstate economy and spread the word that New York State is a great place to make some of the best, freshest, most innovative products in the world. I thank Governor Hochul for her continued support of this initiative and encourage businesses big and small to apply for round five and show us the agricultural products of the future.”
Applications must be submitted by 5 p.m. ET on Thursday, June 15. In August, up to 20 finalists will be assigned mentors and enter the business development phase. All finalists will receive bespoke entrepreneurial support and valuable regional introductions, additional training to hone their live pitches, and an expenses-paid, three-day business development trip to the region for up to two team members.
The selected finalists will present their business plans during the Grow-NY Summit, Tuesday, November 14 – Wednesday, November 15 in Binghamton, alongside a symposium of panel conversations and keynotes, a showcase of agencies, companies, research groups, and other organizations that serve startups working in food and ag, and a student stage where middle and high school aged New Yorkers will pitch their ag and food tech ideas. New this year, the Summit will also include a Dairy Innovation Showcase featuring participants in the Northeastern Dairy Product Innovation Competition, also currently accepting applications.
