In Singapore, Rabobank, a global bank in food & agri and sustainability, launched the Food Loss Challenge for startups in Asia. Rabobank aims to contribute to one of the most pressing issues identified by the UN Sustainable Development Goals to halve food loss by 2030. Against this backdrop, Rabobank Asia is launching the Food Loss Challenge Asia, an initiative to facilitate constructive dialogue between solutions providers, F&A corporates and small holder farmers.
An open innovation challenge, the event will see disruptive startups present their ag-tech solutions to reduce food loss to a platform of leading food and agri industry leaders, investors and other startups.
Every year, 1.3 billion tons of food is lost worldwide even as the world population is expected to increase. To meet an increased demand for food, global food production must increase by at least 60 percent, but arable land and natural resources are nearing their limits.