Hunt on sharp innovators

Sprout programme manager James Bell-Booth says global demand for food has sparked the search for eight agritech superstars.

Bay of Plenty agritech entrepreneurs will have the opportunity to vie for $20,000 and a spot on a new development programme.

National agritech business accelerator, Sprout, is searching the country for eight participants who would receive mentoring from world-class business leaders and technical experts.

The successful candidates would be placed in a 20-week part-time, remotely delivered programme that included $20,000 each and travel around the country.

Programme manager James Bell-Booth said the growing demand for food globally prompted the initiative.

"That demand is creating pressure for new technologies and new ideas that can allow us to create more food effectively."

It had teamed up with a range of partners including Enterprise Angels, Callaghan Innovation, Massey University, Livestock Improvement Corporation and other public and private-sector leaders in agritech.

Mr Bell-Booth said it was looking for inventors and entrepreneurs who had developed new ideas which could be applied across the agritech spectrum.

"We're looking for new businesses from around New Zealand that have big ideas but would benefit from the network, expertise and funding to grow globally. Those engaging in the programme have no need to move from their home locality. This initiative is about finding the next global stars, and boosting regional economies at the same time."

The programme had been in the pipeline for 12 months, he said, and New Zealand was a leading grower and seller but technology had an important role to play.

"There is also an opportunity to be a leader in technology and to support that industry. We really want to see an uplift in how New Zealand performs in terms of sending research technologies around the world."

The response so far to the programme had been encouraging, he said.

"We have already got ideas coming through, which is fantastic and exactly what we are looking for

"It's clever people that are working on using technology to try and make growing food more profitable for everyone."

-The Sprout accelerator programme was designed by BCC, a Palmerston North-based business incubator. Over the past two years BCC has helped establish four globally focused agritech startups, BioLumic, CalfSMART, CropX and Polybatics, which have raised more than $15 million in growth capital from Kiwi and overseas investors.