The Challenge Grant Program is Bluegrass AgTech Development Corp’s inaugural initiative that provides grant funding and resource assistance to foster agriculture and food innovation in Kentucky.
Donor Name: Bluegrass AgTech Development Corp
State: Kentucky
County: Fayette County (KY)
Type of Grant: Grant | Matching Grants
Deadline: 03/01/2024
Size of the Grant: $10,000 to $100,000
Grant Duration: Grant Duration Not Mentioned
Details:
Challenge Focus Areas
Applicants must address a critical challenge that has the potential to improve the profitability, sustainability, and/or resiliency of Kentucky’s agricultural and food economy. Proposed projects must align with at least one of the following 5 Challenge Focus Areas:
- Solutions for Mid-Size Farming – 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 smaller producers and processors.
- Sustainable 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 Animal Protein – 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 the 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
- Each applicant may apply for up to $100,000 of grant funding, and up to $750,000 of total funding is available for grants in the first year of the program. Selected grant recipients will also be offered resource support, such as mentorship, referrals to professional services, connections to local growers and research teams, and other business development assistance.
- Applicants must be able to provide matching contributions on a dollar-for-dollar basis for their proposed project. Matching contributions may be provided in the form of cash and/or the in-kind application of salary or wages attributable exclusively to the project.
Eligibility Criteria
The program is open to registered, for-profit businesses currently located in or willing to establish a presence in Kentucky, with an emphasis on startups and early-stage businesses. A portion of the program’s funding is allocated specifically for businesses in Lexington-Fayette County, Kentucky.
Judging Criteria
Applicants will be judged on a number of criteria including but not limited to:
- Relevance to and potential to impact the Challenge Focus Areas
- Viability of commercialization and business model
- Growth and job creation potential.
For more information, visit BADC.
