Agriculture technology (agritech) is becoming a key area of focus for investors at a global level. Agritech, which is a broad sector, includes a wide variety of technologies and innovation that farmers can apply in farms, distributors can apply after harvest and food companies can apply during processing. One of the main premises of agritech is the ability to produce more food – for a growing global population – with fewer environmentally damaging resources.
There is a huge potential and need to help the agriculture industry find efficiencies, to conserve valuable resources, to meet global demands for protein and to ensure consumers access to clean, safe and healthy food. For all these cases, technological innovation is inevitable.
The European Agricultural Fund for Rural Development (EAFRD) and the package of measures for the “Rural Development 2014-2020”established that the European policy for the rural development contributes that the rural areas of the EU can face the wide range of economic, environmental and social challenges that the XXIst century presents. The policy of rural development shares a series of objectives with the European Structural and Investment Funds (ESI funds).
The objective of the Agritech category is to award the startups that offer products, services and innovative methodologies in the rural and agricultural field, for example: waste reducing technologies such as biotechnologies producing biomaterials from food and agricultural waste, farm-to-consumer distribution, e-grocers, food nutrition transparency, traceability and packaging or processing technologies, among many others.
The most important eligibility criteria are the following: