CHICAGO — Participating in pitch competitions has become a common strategy for entrepreneurs hoping to present their innovative ideas in front of judges and potential investors. As part of its annual ITF First event, held July 14-17 in Chicago, the Institute of Food Technologists hosted a multi-stage competition, aptly named The Pitch, that offered participants a chance to win $10,000 and an exclusive invitation to a funders and investors event.
After the three-day competition, three biotech startups emerged as winners. Runners-up Chainparency and NuCicer each received $2,500, and Scentian Bio received the $10,000 grand prize. Chainparency is a technology solutions startup that offers granular tracking of key data elements and critical tracking events. NuCicer is a biotech company that utilizes a genetic library to precisely breed underutilized types of chickpeas that are nutritionally rich, sustainable, and climate-tolerant.
Scentian Bio is a biotech company that uses synthesized insect olfactory receptor biosensors to measure smell and taste. It was dubbed the winner for its portable, handheld biosensor, which offers real-time and accurate measurement capabilities to ensure product quality, safety and sensory satisfaction.
“The winners of The Pitch exemplify the innovative spirit the science of food community needs to adapt to critical challenges impacting our food supply today and in the future,” said Christie Tarantino-Dean, IFT’s CEO. “I congratulate and celebrate the winners and participants of this year’s competition, as well as all Startup Pavilion exhibitors who showcased their innovative solutions and products to IFT FIRST attendees, industry stakeholders, and potential funders and investors.”
The Pitch remains one of the most popular events at IFT FIRST. This year, the Startup Pavilion housed more than 80 food and food tech startups from five continents, including Oceania. The companies represented all stages of the food industry, from solutions for manufacturers to ready-to-eat consumer products.
