DUBAI: Prince Khaled bin Alwaleed bin Talal Al-Saud, founder and CEO of KBW Ventures, has been announced as a member of the advisory board for the $15 million XPRIZE Feed the Next Billion, which aims to find alternatives to traditional farming and cooking methods.

“XPRIZE is known for catalyzing innovators to solve pressing global issues, and the Feed the Next Billion challenge actually addresses several problems in one shot: The climate crisis, the responsible usage of natural resources, making healthy protein-rich foods widely available with a built-in affordability metric, and more,” Prince Khaled told Arab News on Thursday.

The challenge is being sponsored by Aspire — Abu Dhabi’s Advanced Technology Research Council — and the Saudi royal will be the only Middle Eastern participant on the advisory panel.

“It’s a step forward in the GCC to see the Abu Dhabi Advanced Technology Research Council sponsor this sustainability challenge — a proud moment for us all as we collectively work toward more environmentally appropriate solutions,” Prince Khaled said.

Launched in Dec. 2020, XPRIZE Feed the Next Billion seeks to meet the growing global demand for protein products through the development of nutritious alternatives to traditional chicken and fish products.

Over the next three years, Prince Khaled and the rest of the advisory board will guide teams of global innovators as they try to develop environmentally conscious alternatives that replicate the look, taste, smell, feel, and cooking behavior of a fillet of fish or chicken.

Other members of the advisory team include Bernhard Kowatsch, head of the Innovation Accelerator at the United Nations World Food Program; Lisa Sweet, head of Future of Protein, COVID Response, and Food Health at the World Economic Forum; and Ricardo San Martin, research director of the Alternative Meat Program at the UC Berkeley Sutardja Center for Entrepreneurship and Technology. Registration for the challenge is open until May 31 and winners will be revealed in 2024.