#United States #Ithaca #Grow-NY Competition #Food & Agriculture #Empire State Development

Grow-NY International Business Competition

The application period for the seventh annual Grow-NY food, beverage, and agriculture business competition has officially launched, as announced by Empire State Development (ESD) on March 4, 2025. This competition aims to identify up to 20 high-potential food and agriculture startups from around the world, who will compete for a total of $3 million in cash prizes.

Overview of Grow-NY Competition

The Grow-NY competition is a prestigious platform designed to promote innovation and growth in the food and agriculture sectors. Finalists will not only receive a share of the prize money but will also participate in an accelerator program that involves business development mentorship and opportunities to connect with potential regional partners. The competition seeks to enhance the agricultural landscape of the Grow-NY region, which encompasses a 22-county area that includes Central New York, the Finger Lakes, and the Southern Tier.

ESD President, CEO, and Commissioner Hope Knight emphasized the significance of this accelerator. She noted that the program has played a critical role in attracting pioneering agribusinesses and catalyzing private investments in the targeted regions. Over the years, the Grow-NY competition has set a foundation for success through its previous winners, who have introduced dynamic innovations and contributed to economic growth in Upstate New York.

Prize Structure

The prize distribution for this year's competition is designed to recognize various levels of achievement:

• - One grand prize winner will secure a remarkable $1 million.
• - Two participants will receive $500,000 each.
• - An additional four finalists will be awarded $250,000.

This competitive structure encourages participants to aim for greatness while fostering an environment of collaboration and learning.

Key Dates and Event Details

Prospective contestants must submit their applications by 5 p.m. ET on May 15, 2025. Finalists will be invited to showcase their business plans to a panel of expert judges during the Grow-NY Summit set for November 12 and 13, 2025, in Canandaigua, New York. The summit will serve as a vibrant platform, featuring symposiums with panel discussions, keynote speakers, and an array of service providers tailored for food and agribusiness startups.

Since its inception in 2019, the Grow-NY program has made a significant impact, attracting applications from more than 1,800 businesses across 44 U.S. states and 95 countries. Out of these, 117 startups have had the opportunity to participate as finalists, with a total of 42 winners having been awarded approximately $18 million in funding, alongside invaluable mentorship and networking experiences that elevate their potential for success in the industry.

The Impact of Grow-NY

The Grow-NY initiative is funded through New York State’s Upstate Revitalization Initiative, supported by three regional entities: CNY Rising, Finger Lakes Forward, and Southern Tier Soaring. The program is administered by Cornell University's Center for Regional Economic Advancement (CREA).

Jenn Smith, the program director for Grow-NY, expressed excitement about the contributions of past participants, highlighting their achievements as a testament to the program's efficacy. She anticipates even greater outcomes as new startups apply and participate in this year’s competition.

For those interested in learning more about the Grow-NY competition, visit www.grow-ny.com. To explore more information regarding CREA, go to http://crea.cornell.edu/.

In conclusion, the Grow-NY International Business Competition not only provides a financial boost to participating startups but also fosters a community of innovation that can lead to substantial economic development in New York's agricultural sector.