Ag Technology Draws Investment Interest

Cindy ZimmermanFinancing, General

Agriculture 2.0 is drawing big interest from Silicon Valley venture funds, according to Illinois-based Open Prairie Ventures.

“Current projections are that the food supply will need to double over the next 30 years to feed the ever-increasing demands of the global population,” said Jim Schultz, founder of Open Prairie Ventures. “If we are going to increase our food supply by 100% in the next thirty years, this demand for growth will be fueled by safe agricultural technologies that increase crop yields on less land.”

Schultz believes that technological improvements in the last thirty years which have improved agricultural productivity are only the beginning. Among the most important areas Open Prairie Ventures has identified for future technology developments in agriculture are Quality Control Processes; New market developments; Reduced labor costs; Improved production processes; Reduced environmental damage; and Reduced energy consumption.