Hungarian Firm Wins EBRD Entrepreneurship Tender

A Hungarian company has won the European Bank for Reconstruction and Development's (EBRD) entrepreneurship competition: Smapp Lab took the top prize with two foreign companies in the food technology start-up competition, the EBRD told MTI on Tuesday.

The Hungarian company's insect monitoring platform helps optimize pesticide use, Tunisia's Kumulus machines produce fresh water in a sustainable way, and Turkish Biftek's growth additives reduce the cost of laboratory meat production, the winners' announcement said. Other winners include a company that developed an irrigation support system and one that makes edible cups to reduce waste.

The winners were selected partly on the basis of the importance of the problem they were trying to solve, but also on the uniqueness of their products and services, their market-entry strategy or the potential of their developments. The winners will receive personalized consultancy support, EUR 10,000 for additional services and the chance to present themselves at international forums.

The EBRD has justified the call for proposals on the grounds of climate change and population explosion. 9.6 billion people will be living on the planet in 2050, and solutions to the challenges of food supply systems must be found. Supporting innovative products, services and technologies can contribute to the sustainability and efficiency of the agri-food industry, they added.