A new agricultural technology business accelerator was officially launched last week out of St. Louis.
The Yield Lab is “focused on bridging the critical gap between innovation and fruition of new agricultural technology by supporting early stage companies” providing new ag tech companies with $100,000 in funding, mentors, and connections in the greater St. Louis area.
“”We plan to embrace the unique agricultural networks and resources the region offers,” said Thad Simons, one of the general partners for The Yield Lab. “We think this can be a powerful opportunity to take innovative companies to the next step.”
Simons is Board President of the International Food and Agribusiness Association (IFAMA) and former President and CEO of Novus International, Inc. Other general partners include Jeff Peterson, former Vice President of Strategic Development at Monsanto and board member of the Center for Emerging Technologies in St Louis, and Tom Adamitis, Former Global Vice President of Raw Materials and Energy Procurement for Anheuser-Busch InBev.
Backed by Cultivation Capital, The Yield Labs intends to select four to eight agriculturally based technology companies each year with a nine month cohort and is currently accepting applications for the inaugural 2015 class. Applications are due online by October 24th, 2014.