BINGHAMTON, N.Y. (WIVT/WBGH) – Some of the newest and brightest minds in the agriculture industry gathered at the Holiday Inn in Binghamton to compete for a sum of start-up capital.
Grow-NY is hosting its two day, ag-tech summit where start-up companies pitch their innovations for a chance to win up to $1 million.
The competition initially received over 300 applications and narrowed it down to 20 startup teams from around the globe.
Each company has a booth and a presentation to describe their product and is required to pitch their company to a panel of judges. One of the finalists in the event is Gr8pe by Still Benne.
The company found an innovative way to recycle the unused portions of a grape into a highly nutritious powder that helps with digestion.
“It is the skin, seeds and stems that are left over after you take grapes and press them for wine or grape juice. It’s twenty percent of the grape by weight, and it’s currently being, most of it just being thrown out,” said o-Founder of Gr8pe by Still Benne Amber Adams.
Adams says that grape producers generally spend up to $1 million a year to throw away the leftover skins, seeds and stems, so her product would save growers money.
One finalist will win the grand prize of $1 million dollars, two teams will receive $500,000 and another 4 teams will receive a $250,000 prize.
The winners will be announced tomorrow.