Agroland supports five Romanian agtech start-ups with 10,000 euros each

Five tech startups from Romania, with direct applications in the agricultural area, were declared finalists in the AgTech TM business incubator, organized by Agroland in partnership with X by Ascendis. They have received or will receive 10,000 euros each from the Agroland Group, in order to put into practice the business ideas with which they won the competition.

AgTech TM by Agroland is the first complete startup incubation program in Romania, which stimulates and supports innovation in agriculture, at national level. The 50,000 euros are invested by Agroland, through the two main companies in the group. Agroland Business System (AG stock market index) offers funding of 10,000 euros for Planty AI, Tailpath and Hardwired, and Agroland Agribusiness (AAB stock symbol) supports Urban Agriculture Technologies and ADGraft start-ups with the same amounts.

During 12 weeks, the teams benefited from mentoring in technology, agriculture, marketing, finance, sales, competition analysis, investments.

By the end of September 2021, the winning teams will complete the first stage of product development. This consists of the realization of minimally viable products (MVP – Minimum Viable Product), which can satisfy early customers and through which feedback is obtained for deeper development. Agroland and Ascendis X will support the five teams to obtain a new round of funding, with a view to continuing product development. Companies belonging to the Agroland group can also participate in the new round of financing.

In the first half of 2021, the AgTech TM by Agroland business incubator partnered with technology giant Microsoft, which, in addition to its know-how, collaborated to provide entrepreneurs with the tools through which they can predict the agtech industry trends in the upcoming 10 years.