Norfolk’s research reputation boosted by £8m agri-tech fund

John French, CEO Adapt Group,Picture: Denise Bradley John French, CEO Adapt Group,Picture: Denise Bradley

Thursday, July 17, 2014
12:10 AM

The region’s global reputation for agricultural science has been handed a further boost with the launch of an £8m venture capital fund.

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Norwich-based business consultants Adapt Low Carbon Group have joined forces with the Japanese commercial investors Tsukuba Technology Seed Co (TTS) to support businesses in the agri-tech sector.

The investment scheme – announced today at the House of Lords – will target small and medium-sized businesses that need a cash-injection to grow.

It will work alongside the government’s agri-tech strategy, which wants to nurture links between Norwich and Cambridge to create a cluster of innovative businesses.

Dr John French, chief executive of Adapt Low Carbon, based at the Norwich Research Park, said: “This Agri-Innovation Venture Capital Fund signifies the natural progression of our long term work in the agri-tech sector and innovation funding.

“And it’s the culmination of our strong relationship with Tsukuba Technology Seed Co, which will benefit innovative businesses here and in Japan.”

The scheme will offer support to businesses across a range of areas, including: water resource efficiency; energy efficiency; precision farming and improved farm management; sustainable production systems; disease; weed and pest control for animal and crop production; and irrigation, lighting and sensors for protected and field based agriculture.

Adapt said the first stage will see money invested into the agri-tech sector and the bioeconomy from the Low Carbon Innovation Fund and TTS, before a second phase of funding begins at the end of next year.

Yoshiki Sasaki, chief executive of TTS, said: “We believe it will really unlock the potential for innovative companies in the agri-tech sector to expand and grow through high quality international partnerships and provide access to new markets.”

The announcement is part of an event at the House of Lords to celebrate Norfolk’s world class research.

• Do you have a business story for the EDP? Contact business writer Ben Woods on 01603 772426 or email ben.woods@archant.co.uk

2 comments

  • No mention of whether GM is involved, is that because this is nothing to do with GM or because it attracts unwelcome attention?

    Add your comment | Report this comment

    Honest John

    Friday, July 18, 2014

  • This is certainly a good piece of news the research park needs additional funds and carries out a lot of important work, let's hope more money is given to the UEA to study the weird weather we are experiencing heavy rain one week and soaring temperatures the next week, sure sign of Global Warming methinks

    Add your comment | Report this comment

    blister

    Thursday, July 17, 2014

The views expressed in the above comments do not necessarily reflect the views of this site

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