iFood, the largest foodtech in Latin America, and Xprize, specialized in innovation competitions, financed by billionaire Elon Musk, entered into a partnership to raise US$ 20 million and hold a competition for the development of returnable food packaging. The focus is to reduce environmental impact.
The prize pool will be US$ 10 million for teams selected by third-party judges. First place will receive US$ 6 million, second place US$ 2 million and third place US$ 1 million. iFood comes in as an investor. For the CEO of iFood, Fabricio Bloisi, Brazil must help reduce the use of plastic and guarantee a future for the environment.
(Note published in issue 1273 of Money Magazine)
Was this content useful to you?
YesNo