Technology heavyweights establish agtech collective

Led by Google’s Innovation Endeavours and Flextronics’ Lax IX, Farm2050 will support agtech start-up companies that can help improve agriculture production globally.

Innovation Endeavours, the venture capital firm founded by Google chairman Eric Schmidt and hardware incubator Flextronics’ Lab IX have founded Farm2050, a collective of agri industry partners that will support agtech start-ups.

The collective was established in the wake of increasing investment into agtech companies this year.

Farm2050 will provide entrepreneurs with the network and resources they need to establish businesses that will promote and improve food production and “build the foundation for a better agricultural future”, according to a blog post on the Innovation Endeavours website.

“It’s a new type of support ecosystem that goes far beyond capital,” continues the blog. “Unique in its ability to offer assistance with industrial design, manufacturing, testing, and industry networking, Farm2050 is excited about lowering the barrier to entry for these entrepreneurs who are working to build the foundation for a more efficient agricultural future.”

The collective includes chemicals giant Du Pont, Google Developers Startup Launch, a platform for startups, Sensitech, the cold chain products and services company, 3DR, a personal drone company and farm equipment company AGCO. And the collective is looking for more industry partners, according to its website.

It is also calling on start-ups with disruptive technologies to get in touch and pitch products that will address the global food challenge.

“Many efforts exist around agriculture and technology,” reads the website. “However, these efforts are often fragmented in the context of a complex agricultural ecosystem. Farm2050 brings together researchers, farmers, entrepreneurs, manufacturers, and distributors to accelerate the path for new disruptive agtech ventures.”

Farm2050 had not responded to requests for comment when Agri Investor went to press.