In partnership with Nestlé, GOKE, and Wageningen University, the investors are launching the Global Dairy Challenge, inviting startups worldwide to present innovative technologies that can help solve these pressing issues.
Irish startups will have the chance to participate during the National Ploughing Championships in September, with the global event taking place at the Animal AgTech Innovation Summit in Amsterdam in October.
Applications are open until August 31, 2024, after which selected applicants will pitch their innovations to The Yield Lab. Finalists will be invited to present at a pre-summit event on October 8 in Amsterdam, where the winning candidates will secure a €100,000 investment from The Yield Lab.
Interested companies can apply on The Yield Lab website.
Production efficiency
David Bowles, managing partner, Yield Lab Europe, shared insights on the initiative's goals:
“Yield Lab Europe is an impact investor, aiming to deliver environmental and financial returns equally. Our primary goal with this challenge is to foster innovation in dairy sustainability, potentially leading to new investment opportunities. Recognizing the dairy sector’s significant environmental footprint, we believe in its enduring economic and cultural importance. While sustainability discussions often focus on dairy alternatives, we are interested in technologies that enable more efficient production for a sustainable and equitable dairy supply chain.”
He emphasized the various areas ripe for innovation: “Many factors can improve production efficiency, from ruminant genetics and pasture management to milking robots and processing technologies. These are the innovations we aim to discover and promote through the Global Dairy Sustainability Challenge.”
Areas of Innovation
The challenge is seeking breakthroughs in several key areas:
- Breeding and Genomics: Identifying and selecting ruminants that emit less.
- Pasture and Soil Management: Optimizing varieties, growth, and resilience to climate change; promoting outdoor and rotational grazing to reduce emissions and regenerate soils.
- Animal Health and Nutrition: Enhancing animal productivity through better health and nutrition, reducing emissions, and improving overall sustainability.
- Manure Management: Developing technologies to process and repurpose manure while mitigating emissions.
- Production and Processing: Improving processing efficiency, transportation, stability, and shelf-life to reduce waste.
Evaluation criteria
Regarding the evaluation process, Emilie Abrams, principal at The Yield Lab, told us: “We’ll follow an accelerated version of our typical due diligence, considering traction, strategy, business plan, unit economics, team, and impact. Our final jury will include technical experts to assess the viability of the technologies within the dairy supply chain.”
Global perspectives, local needs
She also highlighted the global and local approach of the challenge: “The Yield Lab is a global network, and the Dairy Sustainability Challenge will leverage expertise across our network to understand both global dairy industry needs and regional contexts. While challenges like emissions reduction, land and water optimization, and animal health are common across geographies, solutions often need to be adapted locally. For instance, our LATAM team knows that livestock farmers in rural, mountainous areas may lack the internet access required for virtual fencing solutions.”
Collaborative opportunities
The challenge fosters beneficial relationships between dairy corporates and startups.
“Corporates gain exposure to the latest innovations in dairy sustainability, while startups benefit from professionalization and scaling opportunities, including piloting partnerships and research assistance,” said Abrams.
Wageningen University in the Netherlands will play a crucial role in testing and evaluating the participating technologies, ensuring the challenge maintains its credibility and rigor, she added.