Agritech has been a foundation of modern civilization for as long as humans have built societies. The ability to farm and produce food continuously allowed us to create the modern world we now enjoy but to do so we have caused damage to the earth. How can we continue to produce and grow without harming our lands and environment, the answer again lies in technology and human innovation.
Europe’s fast-growing need for Agritech
Climate change has brought on a special set of phenomena that threaten Europe’s capacity to produce its own food. For example, around 74% of Spain is at risk of desertification, and the whole of southern Europe could see its rain expectancy cut by half in the coming years1.
Not only that but the rising temperatures are also surely going affect the rest of European food production. That’s why increased interest and investment in agritech is not a surprise.
Agritech investment at private and public levels
Last year alone private investment in agritech increased by more than half (58.6%) adding up to $10.5 billion from just $6.5 billion the year before. That worldwide investment in agriculture technology is being led by the Americas. However, Europe and Asia reached their highest percentage of deals going up to 45.7% participation in 2021.
The road to sustainability in food production starts with a need
Two of the major hubs in agritech development historically have been Israel and Australia, countries that have been battling with limited agricultural resources for years.
Yes, Silicon Valley remains at the top of Agritech startups but countries, where the ground and conditions are the harshest, are where innovation becomes a necessity for life. Driving investment, speed and solutions faster. Plus, let’s not forget California’s own climate challenges may be adding to its agritech boost.
Anastasia Volkova, agreitech founder and Regrow CEO and founder says
I guess I have the understanding that it’s important to create change in a sustainable way, and one of the most sustainable ways of creating change in the world is actually creating a business case around it that rewards all the stakeholders that are involved.Regrow CEO Anastasia Volkova, PhD
That same type of need and struggle has now spread across the world. So, the rise of new agritech hubs is also expected. B
There is now an impactful boom in agritech development as the effects of climate change are being felt more decisively across Europe.
A niche for every part of the process
Many of us ignore what it takes to go from seed to table, the myriad of processes involved create opportunities for innovation at every turn. Making agrotech a prolific and vast universe for startups to create solutions and make a difference.
Here are some, not all, of the niches that you can find in Agritech
- Agriculture Biotech
- Plant data and analysis
- Animal Biotech
- Plant Biotech
- Precision Agriculture
- Farm management software
- Agriculture IoT
- Agrifinance & e-commerce
- Finance & Insurance
- Indoor Agriculture
- Aminal Agriculture
- Animal Tech
- Pollination Tech
A greener future
Agritech is not the rockstar of the startup niche but its importance is paramount. Getting excited about food production and sustainability is gaining traction as a multi-generation-wide effort to steer our food system into the right path takes place.
Right now most food systems are damaged from seed to meal. Poor agricultural practices, minimal sustainable systems, food waste and lack of information are all acting at once. The answer needs to be swift and like many climate change initiatives, it needs to be supported by both government and private entities.
We are all invested in greener sustainable food production and we can get started just by knowing who’s behind the change and supporting new innovations and initiatives.
ReGrow, Agreena and others are the actual cool kids in tech, companies much more likely to change the world than those often given the limelight and attention.