Calgary-based Carrot Ventures is looking for food and agriculture technologies ready to move from promising ideas to commercial businesses.
The agtech venture studio, operated by Verdex Capital, has launched the Food & AgTech Innovation Challenge in collaboration with XPRIZE Canada Hub. The competition offers a $150,000 prize, with selected opportunities also eligible for consideration for up to $1.5 million in follow-on investment, subject to due diligence and investment approval.
The challenge has two tracks. Food Innovation targets improvements in areas such as food preservation, packaging, safety, traceability and waste reduction. Produce More with Less focuses on agricultural productivity and resource efficiency, including robotics, automation, animal health and digital agriculture.
Applications are open globally, with an emphasis on technologies that can deliver practical benefits for Canadian agriculture and food systems. Evaluation criteria include customer demand, measurable impact, technical differentiation and a credible path to building a scalable business.
“Some of the most exciting breakthroughs in food and agriculture never make it into the hands of the people who could benefit from them,” said Collin Phillip, CEO of Verdex Capital.
Carrot’s venture studio model aims to close that commercialization gap by identifying technologies, recruiting leadership, forming companies and leading their initial financing. The challenge combines that expertise with XPRIZE Canada Hub’s reach and partner networks.
Applications close December 31, 2026, with finalist evaluation and winner announcements planned for January 2027.
More information and the application form are available on the Food & AgTech Innovation Challenge website.
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