The Yield Lab, which provides support to start-up companies in the ag-tech sector, has opened for applications from start-up companies for its 2018 programme. Yield Lab will offer early stage venture capital support of €100,000 to eight companies in 2018, with a total investment of €800,000.
As part of the support, successful companies receive an intensive mentoring and training programme to help turn ideas into internationally scalable businesses.
This is the second year of the European programme, which mirrors sister programmes in the US and South America. It is particularly focussed on businesses which address issues of environmental sustainability and food security.
Three start-ups supported in Ireland
Paul Finnerty, former chief executive of ABP Food Group, is chairman of Yield Lab Europe. He said: “AgTech start-ups are at the sharp edge of vital innovation that addresses the need to produce more food using less resources.” He said progress to date has exceeded expectations, with investments made in three start-ups in Ireland and one in the UK.
Finnerty said they now want to ramp up to “invest in six to eight more businesses in 2018, and hoping to extend our reach into mainland Europe.”
Yield Lab Europe is headquartered in Galway and was founded in 2014. It backed four companies in 2017 after receiving 165 applications. The four companies that were backed in The Yield Lab Europe’s 2017 programme were ApisProtect, Hexafly, MicroSynbiotix and Rootwave.
Applications for 2018 will close on Friday 23 February. Further information is available on www.yieldlab.ie
Irish AgTech investment focus from Yield Lab