With a new international reach and rooted in agriculture, the Yield Lab Institute is launching HARVEST AgTech (Harnessing Agricultural Research and Venture Ecosystems for Sustainable Technology.)
This program is building from the foundation of the previous Wells Fargo Innovation Incubator IN2 program, which since 2014 has supported 77 startups. Twenty-six of those companies have worked with the Donald Danforth Plant Science Center and went on to raise $290 million in funding, and five exited via acquisition or merger.
“IN2 is pleased to continue its commitment to agtech innovation by supporting this next chapter with YLI in St. Louis,” said Sarah Derdowski, IN2 program manager at NREL, a U.S. Department of Energy national laboratory, in the announcement. “We’re confident this step will empower YLI and its partners to expand investment in agtech, create more opportunities for innovators, and help build a more resilient, adaptable future.”
The mission of HARVEST going forward is “empowering the global agriculture startup community through research collaborations, field testing, and direct funding opportunities, promising innovations can reach the market faster.”
HARVEST AgTech will bring on two new technical partners: North Carolina Plant Sciences Initiative and University of California Agriculture and Natural Resources. Additionally, the incubator will have a partner network with 12 regional ecosystems across the U.S. and international reach in Argentina, Brazil, Israel and the United Kingdom.
“YLI is honored to have this unique opportunity to build on the incredible foundation of the IN2 agtech program and continue to invest in high-potential innovations through the newly established H.A.R.V.E.S.T. AgTech program,” said Stephanie Regagnon, executive director for the Yield Lab Institute, said in the announcement. “YLI will learn from IN2’s success and ensure the core elements of the proven model stay intact including an internationally recognized external advisory board, a robust process for selecting cohort companies, and an expansive network of partners to refer companies into the pipeline. YLI and our partners also plan to expand the program in very meaningful ways in year one.”
Additional partners supporting the program are Breakthrough Energy Discovery, NREL Foundation and the Missouri Technology Corporation.
