- The UK Agri-Tech Centre has called on investors to keep agri-tech in their sights when considering areas in which to invest, following the UK Government’s investment summit
According to the latest AgFunder report, investment in agrifoodtech startups is at its lowest point in six years and was down by 29% last year from 2022.
The UK agri-tech sector has a world-class science base, for example, in areas such as engineering biology, space applications, artificial intelligence and autonomous technology, all of which the UK Government identified as “fast-growing areas of technology making a difference to people’s lives” when it launched the Regulatory Innovation Office last week.
The UK Agri-Tech Centre, with its UK and sector-wide capabilities, expertise and networks, supports numerous companies in these areas and across the whole agri-tech sector on their journey from start-up to market.
The UK Agri-Tech Centre currently has 85 live projects underway, involving 84 partners, leveraging a total of £64.4M direct total support, with much larger anticipated financial impact and benefits, if commercialised.
Phil Bicknell, CEO of the UK Agri-Tech Centre said: “Today’s investment summit is a great opportunity to highlight the UK’s enviable innovation sector and to draw attention to the private investment required to help it thrive.
“Technologies such as engineering biology, space applications, artificial intelligence and autonomous technology have all been identified by the UK Government as strategic priorities and could have transformational effects on food production in the UK and abroad, with all the ensuing benefits of economic growth and food security.
“The UK is fortunate to have a very rich agri-innovation R&D ecosystem and is well supported by government and grant-funding which significantly de-risks early-stage test and trial, but the final driver of success is private investment to support scale up and access to the marketplace.
“We are working with numerous, innovative start-ups whose products are game-changing and invite the wider investment community to support our sector’s potential to grow great businesses and create a more sustainable future.”
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