Small and medium-sized farm companies will be capable to apply for a share of £5 million to fund revolutionary concepts geared toward boosting sustainable meals manufacturing, supporting nature restoration and driving progress in the direction of internet zero as a brand new competitors launches later this month.
Constructing on the Nature for Finance occasion at Downing Avenue final month, the Farming Innovation Investor Partnership Competitors goals to speed up agricultural analysis and growth by mixing grant funding with personal funding.
It particularly seeks to help pioneering tasks throughout the agricultural sector which have demonstrated the potential to develop and generate income, supporting the commercialisation of on-farm applied sciences that may then be rolled out throughout the trade.
The competitors is ready to open on Monday 24th July, and tasks are inspired to use from throughout the livestock, arable, horticulture, bioeconomy and agroforestry sectors.
Candidates can bid for as much as 45% of venture prices in grant funding, which have to be matched by a minimum of twice the quantity in personal funding. There is no such thing as a restrict to the extent of personal funding for tasks, and former schemes have proven the flexibility to draw considerably increased ranges of funding.
The competitors, which is funded by Defra, run in partnership with UK Analysis & Innovation (UKRI) and delivered by Innovate UK, represents an extension of the federal government’s £270m Farming Innovation Programme.
Examples of tasks already benefitting from the scheme embrace autonomous livestock monitoring programs, robotic fruit harvesting programs, concentrated mild weeding utilizing AI, clever robotic cow cubicles and digital crop administration for the early detection of glasshouse pests and ailments.
By supporting tasks on the later stage of innovation, the brand new competitors is anticipated to drive elevated commercialisation and adoption throughout the trade, and likewise goals to raise the profile of the agri-tech sector by positioning it as a central focus for UK traders.
Furthermore, it delivers on commitments made on the UK Farm to Fork Summit in Could to spice up progress, innovation and enhance sustainability throughout the meals provide chain in an effort to hold the nation fed whereas delivering nature restoration for our countryside.
Farming minister Mark Spencer commented: “Supporting a resilient, sustainable and revolutionary agriculture sector that places meals on our tables whereas safeguarding the surroundings is my precedence, and we’re working with farmers to ship this via our new farming schemes and grants.
“By bringing collectively cutting-edge agri-innovation and private and non-private funding, we will unlock new applied sciences that assist make our farm companies as productive as doable.”
With the intention to apply, tasks have to be led by a sole UK registered micro, small, or medium-sized enterprise and exhibit clear and tangible connections to farmers, growers, agri-businesses, and different potential end-users. Traders for the programme might be chosen from the pool of Innovate UK Investor Companions which at present contains 80 companions and rising.
For additional particulars on find out how to apply, go to the Innovate UK web site right here.
