• *Akorn Technology named as a winner of the UAE FoodTech Challenge, a global competition to identify and scale the world’s most promising agri-tech solutions *
• Berkeley-based startup among four global winners honored at one of the world’s largest sustainability summits, selected from1,200+ entries spanning 113 countries
• Winners share a $2 million prize and enter the UAE’s thriving innovation ecosystem, enabling them to develop and scale their ventures from the UAE to the world

, /PRNewswire/ – Akorn Technology, a Berkeley, California-based agri-tech startup focused on reducing the amount of fresh produce lost or wasted by developing an edible coating to extend shelf life, has been announced as one of four winners of the UAE FoodTech Challenge during a live finale at Abu Dhabi Sustainability Week – one of the world’s largest sustainability gatherings. The company was selected from a pool of ten global finalists chosen from an initial 1,215 submissions across 113 countries.

FoodTech Challenge Winner - Akorn Technology

Winners of UAE FoodTech Challenge

Akorn Technology - Winner of UAE FoodTech Challenge

Now in its third edition, the UAE FoodTech Challenge identifies and scales the world’s most promising agri-tech solutions that boost food production and reduce food loss and waste in arid and increasingly climate-stressed environments. The competition is organized by the International Affairs Office at the UAE Presidential Court and Tamkeen, in partnership with the Gates Foundation, ne’ma (the UAE’s National Food Loss and Waste Initiative) – and Silal, a leading UAE agri-food company. Akorn Technology is the first US company to be named a FoodTech Challenge winner.

Akorn Technology, founded in 2019 by a team with experience spanning the high technology, consumer goods, and agriculture sectors, will share a $2 million prize package and receive further in-kind support to develop and scale their pioneering solution through the UAE’s world-class innovation ecosystem, including technical and research support, pilot opportunities, market access, and incubation and acceleration services.

**About Akorn Technology: **

• Challenge: An estimated 13% of food is lost between harvest and retail, with an additional 19% wasted at the consumption stage. Loss across the supply chain reduces availability and quality, cuts grower revenues, and increases environmental impact.
• **Mission: **Reduce food loss by enabling producers and retailers to deliver harvest-fresh, tastier, and longer-lasting fruits and vegetables.
• **Innovative solution: **A natural, edible coating for fruit and vegetables, including vegetable protein to slow ripening, wax to reduce moisture loss, and vegetable oil to maintain color, without altering the taste, quality, or nutritional value.
• Future plans: Optimize the solution for the UAE and other arid environments, and scale deployment from current operations in Egypt and Ghana to include new international markets across the Global South, building more resilient supply chains and advancing global food security.

Anthony Zografos, Founder and CEO of Akorn Technology, commented on the win: "It is an incredible honor to be a winner of the UAE FoodTech Challenge. We’ve always known that our breakthrough technology has the potential to solve one of the world’s biggest challenges – food loss – and we are very excited to receive this validation by the judging committee."

"With the funding and ecosystem support offered by the FoodTech Challenge, we’re planning to set up a research program and production capability in the UAE, and we expect to be in pilot production of our cutting-edge products within the next 12-18 months. We already have handshake agreements with growers in South Africa and Southeast Asia to test our products and we will move these projects forwards immediately."

Akorn Technology was named a winner of the UAE FoodTech Challenge alongside global startups Permia Sensing, HyveGeo, and Flybox, whose operations span Asia, Africa, South America and the Middle East. They follow in the footsteps of previous UAE FoodTech Challenge winners, who have gone on to raise more than $48 million in follow-on funding, launch more than 50pilott projects, and successfully localize their technologies for the UAE, before scaling across similar environments.

To learn more about the UAE FoodTech Challenge and this year’s winners, visit: www.foodtechchallenge.com.

About the UAE FoodTech Challenge

The UAE FoodTech Challenge is a global venture competition that identifies and scales leading early-stage, tech-driven solutions poised to transform food systems in arid, hot, and increasingly challenging environments. The competition is delivered by the International Affairs Office at the UAE Presidential Court and Tamkeen in partnership with ne’ma, the UAE’s Food Loss and Waste Initiative; Silal, the UAE’s leading agri-tech company; Gates Foundation, Clinton Global Initiative, and other key partners.

Video: https://www.youtube.com/watch?v=kdYQ0X3okvU Photo: https://mma.prnewswire.com/media/2864224/Akorn_Technology_1.jpg Photo: https://mma.prnewswire.com/media/2864225/Akorn_Technology_2.jpg

SOURCE Akorn Technology