Funding Food System Transformation: Will Funders and Innovators Ever Speak the Same Language?

When it comes to promising solutions to transform the food system, the best ideas go nowhere if they don’t have the dollars to back them up. Frequently a blended finance model is needed, with much of the funding coming from catalytic sources that are patient, risk-tolerant, and flexible, which can help innovators overcome system-level barriers, de-risk innovations, and solve agency problems—ultimately stimulating larger amounts of future funding from more traditional sources.

Unfortunately, many funders and innovators struggle to get on the same page and “speak the same language” when it comes to investment relationships. This unique and highly interactive session would provide an opportunity for both parties to meet face-to-face in a neutral environment to hear what the other has to say about making a funding connection. What are funders looking for in a potential investment and how can innovators and other solution providers best present their opportunity? What do innovators and solution providers need funders to understand about their needs and capabilities and how funders can best support their work?

Using food waste as an example—since it offers many “shovel-ready” solutions offering immediate and scalable impact—ReFED’s Alexandria Coari would first set the stage by sharing how the nonprofit helps funders and innovators create truly catalytic relationships that can fight climate change by reducing food waste. From an extensive data operation that pinpoints where along the supply chain help is needed the most; to a catalytic funding vehicle that gives philanthropists access to a collection of vetted organizations taking direct action; a members-only networking platform for education and collaboration; plus additional resources like pitch events, deal flow reports, and more, ReFED provides an ecosystem of support to help philanthropists ensure that their funding is truly catalytic.

The bulk of the session would be devoted to hearing directly from funders and innovators and what is working—and what isn’t—when it comes to their connections. As moderator, Alex would seek out a range of voices and experiences from audience members, encouraging them to share stories that can drive positive change in future collaborations. The goal would not be for innovators to walk away from the session with funding or for them to pitch their funding needs, but rather to build honest connections that could hopefully continue afterwards and drive better awareness and understanding.

A special area of focus would be on innovators with leadership and employee bases that feature overrepresentation from marginalized communities to touch on the special challenges faced by those who don’t have traditional networks when it comes to finding funding, partners, etc.