Galway, Ireland is the home of the latest Yield Lab. The Yield Lab was the first food and agriculture technology business accelerator launched in the U.S. The venture fund and business accelerator invests $100,000 in early stage food and ag technology (AgTech) start-ups. They also provide mentoring, free workspace and networking opportunities for businesses located in the St. Louis, Missouri area.
“We believe finding innovative solutions to sustainably feed the world’s rapidly growing population is the biggest problem facing human kind today,” said Yield Lab Managing Director Thad Simons. “The launch of the Yield Lab Galway is the appropriate next step and will provide greater access to financial and strategic opportunities for both our St. Louis and Galway based investments.”
The Yield Lab Galway has been established on the same building blocks and strategy of sourcing, transacting, and mentoring as the Yield Lab in St. Louis. The fund plans to invest in 8- 12 companies over the next two years. Galway was the obvious choice to establish a European footprint, according to The Yield Lab, due to the strong relationship as a sister city with St. Louis. The city also offers a number of regional resources such as NUI Galway, GMIT, Mountbellew Agriculture College and a central location to the vast agricultural production in the west of Ireland. Galway has built itself into an entrepreneurial stronghold, boasting a thriving technology park and growing support ecosystem.
“AgTech companies work in a global economy and our goal is to build a bridge to St. Louis for Irish AgTech companies looking for a U.S. footprint,” said Joe Reagan, president & CEO of the St. Louis Regional Chamber. “In St. Louis, we are focused on supporting entrepreneurs and innovators, and our economic development strategies in the 21st Century must be bold and innovative as well.” The St. Louis Regional Chamber will make a founding investment in the Yield Lab Galway from its Spirit of St. Louis Ventures fund.