MAD is looking for an outstanding Australian company that is bringing exceptional innovation to the Food sector.

Award Purpose:

This competitive award is designed to:

Support entrepreneurs and innovators tackling the global challenge of food security.
Accelerate the development or commercialisation of products that strengthen Australia’s food exports and food technology, particularly into Asia.

What the Award Recognises:

The MAD Business Award – Food Innovation celebrates:

Product innovation, enhancement, or commercialisation in the Australian food sector.
Businesses actively advancing Australia’s role in addressing food security regionally and globally.

Entry Criteria

To be eligible, your business should:

Operate in the Australian food sector.
Be an early-stage, high-growth business with global potential.
Be preparing to scale nationally and internationally.
Have existing revenue and a clear growth plan.
Demonstrate intention to operate in, or export to, Asian markets.
Require funding for an innovative project that enhances Australia’s ability to produce food efficiently and sustainably.
Disclose any prior private or government funding received.

Winner Benefits

The winner will receive:

AUD $50,000 grant (sponsored by ACFEA) to support a specific innovation or commercialisation project.
Business review & analysis using MAD’s Venture Compass assessment to strengthen capital strategy and funding readiness.
Six monthly mentoring calls with the Managing Partners of the MAD Hyperscalers Fund 1.
Potential investment of up to AUD $10m from the MAD Hyperscalers Fund 1 (subject to meeting the fund’s investment criteria).

Rules and Conditions

Applicants must be Australian entities.
Applications will be reviewed by a judging panel against the entry criteria and Venture Compass responses.
Judges’ decisions are final.
The winner will be notified by email and announced via a recorded Zoom call (to be used for future marketing).
The winner will automatically qualify for the annual MAD Business Awards.
Application details may be shared with event sponsors for marketing purposes.
Related parties of MAD or the judges are not eligible to enter.
The winner must provide quarterly updates on project progress and use of funds.