Deadline: 14-Nov-22
Inspired by the Fortune 500, Forward Fooding is proud to present the FoodTech 500, the world’s first definitive list of the global entrepreneurial talent at the intersection between food, technology and sustainability.
Inspired by the Fortune 500, the FoodTech 500 is the definitive list of the most groundbreaking global businesses at the intersection of food, technology & sustainability. Its mission is to shine a light on the impactful entrepreneurs that arereinventing their Food System.
Scoring Mechanism
- Once they validated all of the entries and shortlist the 500 winners, they processed the data from each company’s application using the FoodTech Data Navigator‘s unique set of algorithms which provided us with the business size score and the digital footprint score. They then assessed each business about their sustainability, using data from a self-assessed questionnaire devised by sustainability experts from the academic world that takes into account each Sustainable Development Goal the companies are achieving.
- The last step of the process entailed aggregating the three individual scores (business size, digital footprint and sustainability score) giving each company a score out of 300, which then determines their ranked position on the overall list.
Foodtech Navigator
- Business size score
- The business size score is generated via a proprietary algorithm that predicts the business growth based on financial performance indicators which include the number of employees, funding stage, amount of funds raised to date as well as the number of offices from which they operate. The algorithm is controlled by a test center of multiple fast-growing company lists that are already available on the market.
- Digital footprint score
- The digital footprint score is generated via a proprietary algorithm as a prediction of business digital presence growth based upon each company’s website traffic, social media performance, and following growth. The algorithm takes into account over 25 elements such as websites ranking on search engines, web traffic as well as the number of social media followers, traffic, and engagement.
Sustainability Score
- In the absence of a global framework to measure the business sustainability impact specifically for FoodTech companies, they have chosen to create, in collaboration with sustainability experts from the Department of Management of the University of Turin (Italy), a unique survey and a scoring framework based on a selected number of Sustainable Development Goals from the United Nations.
- Thus, based on self-assessment from each applicant, a certain number of points were attributed to each question to derive each company’s sustainability score with regard to the Sustainable Development Goals (SDG) they are achieving with their solutions.
For more information, visit https://forwardfooding.com/foodtech500/