KUALA LUMPUR (July 17): Malaysia’s FOLO Farms has won US$10,771.62 in funding from the Chivas Venture through its public voting phase.
The company, whose name stands for “Feed Our Loved Ones”, was one of the 30 finalists of the US$1 million global search to find and support the world’s most promising social entrepreneurs. It is an urban farming community that turns three tonnes of food waste daily into compost for vegetable farming.
Thailand’s Siam Organic, which aims to end small-scale farmers’ poverty, walked away with the largest contribution of US$400,000 from the fund, according to a statement today.
The winner was crowned by Oscar-winning actress, businesswoman, and philanthropist Halle Berry in Los Angeles, following the pitches of five entrepreneurs in a star-studded event.