A Simple Guide to the Farming Innovation Investor Partnership Competition

Starting from 24th July, agri-tech businesses in the UK have the opportunity to apply for a share of £5 million through the Farming Innovation Investor Partnership competition. This competition aims to support agri-tech companies that develop and implement new technologies to make farming more efficient. If you have innovative farm-focused solutions that tackle challenges related to productivity, sustainability, and achieving net zero emissions, this competition is for you. Here's what you need to know:

About The Competition

The Farming Innovation Investor Partnership competition, in collaboration with Innovate UK, is a unique initiative. It combines grant funding from Defra with equity funding from private investors, along with support from Innovate UK's Investor Partner pool. The Investor Partner pool consists of around 80 credible and capable entities that are interested in investing in technology-led businesses. If you are successful, you will receive financial support, commercial intelligence, and access to market opportunities to grow and scale your enterprise.

Are You Eligible?

Projects must be in the late-stage Research & Development phase and seek late seed or Series A stage funding. For instance, if you are a start-up or a medium-sized business with an experimental technology close to market, you are eligible to apply.

The project costs should fall between £750,000 and £3,000,000 and the project duration must be 18 months. Funding available for eligible project costs will be up to 45%, and 35% for micro or small and medium-sized companies. Your project should have links to farmers, growers, and agri-business and demonstrate the benefits it brings to farmers and growers in England. Additionally, the project must be led by a sole UK-registered micro, small, or medium-sized business.

How To Apply

To apply, you need to demonstrate an ambition to finalise late-stage innovation, show potential for growth and scalability through successful investment negotiation, and provide a coherent project plan that integrates your business strategy. Your project should address a significant farm-focused challenge related to livestock, plants, novel food production systems, bioeconomy, or agroforestry.

Applications should be submitted through Innovate UK's online Innovation Funding Service. Your proposal will be evaluated by experienced independent assessors with industry expertise to ensure a fair and transparent assessment process.

Key Dates

• 3rd July 2023: Competition documents released.
• 24th July 2023: Application window opens.
• 25th July 2023: Innovate UK Q&A session.
• 30th August 2023: Application window closes.
• October 2023: Successful projects will be notified.
• January 2024: Projects must reach heads of terms with a lead investor.
• February 2024: Successful applicants will be notified.