The Yield Lab Institute and United Soybean Board have launched the 2023 Soy Innovation Challenge.

This year’s challenge is focused on driving innovation and technology for new and novel uses of soybean meal.

The challenge seeks applications from innovators, scientists, researchers, entrepreneurs or startups with a technology or innovation in materials, cosmetics, petrochemicals, consumer packaged goods, renewables, mining, biopharma, industrial, semiconductors and many more sectors that creates new and novel uses for soybean meal.

Soybean-oil demand is increasing as a feedstock for biobased diesel, creating new markets for soybean farmers.

This increase in oil demand presents opportunities and challenges, including additional investments in soybean-crush capacity and significantly more availability of soybean meal, a high-quality source of protein.

The Soy Innovation Challenge aims to source innovations, solutions and technologies that will create new uses and value for soybean meal.

“We are looking for early-stage ideas, research, innovations and ventures working on soybean-meal solutions and technologies,” stated organizers of the 2023 Soy Innovation Challenge.

The 2023 Soy Innovation Challenge will award $170,000 in cash.

Other prizes include in-kind services, mentorship, and technical and commercial support.

Click here to access and submit an application.

The deadline to submit applications is Nov. 6.

Once the application-submission deadline passes, the Yield Lab Institute, United Soybean Board, Amazon Web Services and industry partners and judges will perform an internal review of the application pool and arrive at a final cohort.

The final cohort will be announced early next year.

Then, the program will run where the finalists are paired with a mentor and will work with challenge partners for the next four to six months in an accelerator-type program with two to three anchor, outward-facing public events to showcase the challenge, the finalists and announce the winner of the prizes.

To learn more about the 2023 Soy Innovation Challenge, click here.