The Yield Lab Ireland Announces 2017 Portfolio at PorterShed, Galway
GALWAY, IRELAND May 31, 2017 – Bees, fish, electricide weed control and fly larvae are the focus of four of the companies selected by Yield Lab Ireland for the 2017 portfolio. The Yield Lab is Ireland’s first food and agriculture technology (AgTech) seed fund that has set up in Galway. Details of the selected portfolio companies were announced at a launch event in Galway’s PorterShed innovation hub.
Founded in St. Louis in 2014 by a group of Ag industry experts and executives, the Yield Lab has invested in 15 AgTech companies from across the world. Expansion into Ireland has been led by Paul Finnerty, Chairman of Yield Lab Ireland and former CEO of ABP Food Group. Paul says, “We are pleased to announce our first portfolio of investments in innovative early stage AgTech businesses which we believe have the potential to assist in improving the sustainability of how food is produced, not just in Ireland but internationally.”
Selected companies receive €100,000 in funding and participate in a six-month accelerator programme located in Ireland. During the programme, the companies take part in hands-on training, mentoring, and networking opportunities with international agribusiness and financial institutions to develop their customer, collaborator and investor base.
The 2017 Yield Lab Ireland Cohort Includes:
Fiona Edwards Murphy & Andrew Wood – Cork, Ireland
ApisProtect uses in-hive sensors, retrofitted into existing beehives, to unobtrusively monitor honey bee colonies. The collected data is gathered using mobile networks, then machine learning and big data techniques are applied which provide actionable insights about colony health, diseases, pests and other important events to make effective beekeeping decisions.
Alvan Hunt – Kells, Ireland
Hexafly converts low value vegetable waste into environmentally-friendly protein and nutritional oil products, of high value to the aquaculture fish feed market. Other by-products include frass, a natural fertilizer, and chitin, a bio-polymer used in medicine and as a food additive. These products are derived from black soldier fly larvae, which consume the vegetable waste.
Simon Jegan Porphy & Antonio Lamb – Cork, Ireland
MicroSynbiotiX is developing a novel, patent-pending cost-effective method of producing oral vaccines using transgenic microalgae to combat infections in aquaculture and improve global food security.
Andrew Diprose – Warwick, United Kingdom
Ubiqutek is developing a weed control product that kills weeds using electrical charges which aim to reduce the use of herbicides and other pesticides.