5 'ag-tech' support funds of €100,000 now open for applications

The ‘accelerator programme’ for ag-tech companies – Yield Lab Europe – has today announced that it has opened for applications from start-up companies for its 2019 programme.

According to a statement from the company, Yield Lab will support up to five companies with an investment of €100,000 and an intensive mentoring and training programme to help them turn their ideas into successful internationally scalable businesses.

This is the third year of the European programme for the Yield Lab. To date, the initiative has invested in eight companies, four of which are based in Ireland (see below for an introduction to each company).

The programme aims to offer early stage venture capital to AgTech start-ups, particularly those with a focus on addressing issues of environmental sustainability and food security.

Last month, Yield Lab announced it had raised €21 million for a new European venture capital fund to invest in the ag tech sector, backed by a €10 million investment from Enterprise Ireland and €4 million from AIB.

The fund intends to invest in 30 companies over the next five years.

Fiona Edwards Murphy, CEO of ApisProtect – one of the programme’s alumni – said: “The experience of working with the Yield Lab has been extremely helpful.

This investment has enabled us to roll out our technology across the world; we now have a team of 10 monitoring 10 million honey bees worldwide.

“We have also benefited hugely from the extensive network of partners and corporates through the Yield Lab’s relationships.”

Yield Lab is a “leading early stage ag-tech accelerator” and follow on venture capital fund, with operations in the US, Ireland, Argentina and Singapore.

Yield Lab Europe set up its headquarters in Ireland and launched its first programme cycle in 2017. It is an impact fund, focusing on investments that reduce the environmental footprint of food production and agriculture.

Companies that are chosen for the 2019 Yield Lab Europe Accelerator programme will benefit from:

A €100,000 investment (€75,000 in cash and €25,000 in services and support);
Access to the premiere AgTech accelerator program in Europe;
Individualised mentoring from the partners and from our network of agriculture industry experts;
Access to The Yield Lab global network, including strategic corporate partners, producers, investors entrepreneurs, and more;
All expenses paid trips to three leading AgTech and venture capital conferences in the US and Europe.

Applications for this year’s programme are open until July 31 and can be found here.