Wed, 21/02/2018 - 09:48
Yield Lab Europe, an AgTech accelerator programme has opened for applications from start-up companies for its 2018 programme.
Yield Lab will support up to eight companies with an investment of EUR100,000 and an intensive mentoring and training programme to help them turn their ideas into successful internationally scalable businesses.
This is the second year of the European programme for the Yield Lab, which mirrors sister programmes in the US and Latin America in offering early stage venture capital to companies in the AgTech sector, with a particular focus on businesses addressing issues of environmental sustainability and food security.
Last year Yield Lab Europe had applications from 165 companies across world, from which four were selected to join the six-month programme, which gives the businesses exposure to agri industry experts in addition to the training and EUR100,000 investment.
This year's companies will also benefit from all expenses paid trips to three of the world leading venture capital conferences for early stage AgTech companies, attended by some of the world's largest venture capital funds (including the Ag Innovation Showcase in St Louis in September, and the World AgriTech Innovation Summit in London in October).
Paul Finnerty, former CEO of ABP Food Group and chairman of Yield Lab Europe, says: "AgTech start-ups are at the sharp edge of vitally needed innovation that addresses the need to produce more food using less resources. We commenced operations in 2017 and progress to date has exceeded expectations, with investments made in three start-ups in Ireland and one in the UK. We are now ramping up to invest in six to eight more businesses in 2018, and hoping to extend our reach into mainland Europe."
Alvan Hunt, Chief Executive of Hexafly one of the four companies selected last year, says: "The benefit of being backed by The Yield Lab Europe is more than just the financial investment that it brings. You are accessing a training and support network that is invaluable in helping to build a business. With venture capital in Europe much less developed than in the US, particularly for the AgTech sector, initiatives like this are crucial to create an ecosystem within which companies like Hexafly can continue to thrive."
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