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Online contest launched for agribusiness project ideas and funding

Online contest launched for agribusiness project ideas and funding

Taipei, April 9 (CNA) The Council of Agriculture has launched a contest at three crowdfunding websites aimed at soliciting innovative ideas for setting up agricultural enterprises which can be used to raise funds through these sites, COA Deputy Minister Chen Wen-te (???) said Thursday. With Taiwan's increasingly aging farming population, there is an imminent need for young people to join the sector and for the COA to promote modern farming techniques, according to Chen. To encourage young people to set up modern agribusinesses and reinvigorate the agricultural industry, the COA is launching such a project development contest for the second time since 2013. The contest will last until October and is expected to attract over 65 teams to submit their fund-raising projects with the aim of raising about NT$10 million, Chen said at a press conference. COA Department of Science and Technology Director Lu Hu-sheng (???) said that the business start-up fund-raising model based on crowdfunding websites has become a global trend. For instance, he said, in Australia, a revolutionary new invention dubbed the Flow Hive that enables beekeepers to harvest honey with minimal disturbance to bees is hailed as the most significant innovation in beekeeping since 1852, and has raised NT$1 million in start-up funds in three hours after being put online, even though it was originally targeted to collect only US$70,000. One of the project developers in the contest was Cheng Hui-ling (???), a young woman working in the agriculture sector in Kaohsiung. She said her proposal involves dried fruits, a notebook consisting of paper made with dried pineapple skin, as well as agricultural education camps featuring the manufaturing process. She said she aims to raise NT$100,000, according to Lu. After the contest concludes, the COA will award prize money ranging from NT$10,000-NT$80,000 to those whose proposals gather the most start-up funds, Lu said. (By Yang Su-min and Evelyn Kao)


Updated : 2021-09-22 17:34 GMT+08:00