Farming Innovation Programme
Description
The Farming Innovation Programme (FIP) is a significant government-backed initiative in the United Kingdom, designed to stimulate innovation, research, and development within the agricultural, horticultural, and forestry sectors. Managed by the Department for Environment, Food & Rural Affairs (Defra) in collaboration with UK Research and Innovation (UKRI) through Innovate UK, the programme is a cornerstone of Defra’s broader £270 million investment aimed at fostering a more productive, sustainable, and resilient farming industry in England. Unlike traditional venture capital firms, FIP provides grant funding, meaning it does not take equity in the recipient businesses. Its primary goal is to support projects that address key challenges, improve efficiency, and develop new technologies or practices that benefit farmers, growers, and foresters.
FIP offers various funding streams tailored to different stages of innovation and project scales. These include Feasibility Studies, which support early-stage exploration of novel ideas, and Small and Large R&D Partnerships, which encourage collaboration between businesses and researchers on more developed projects. There are also specific calls under the Farming Futures R&D Fund and an Accelerator Stream designed to help promising innovations reach commercialization. The programme prioritizes projects that contribute to environmental sustainability, enhance food security, and boost economic growth within the rural economy. Eligibility typically requires projects to be based in England and involve a degree of innovation or research.
Typical grant sizes vary significantly depending on the funding stream and project scope. For instance, Feasibility Studies can receive grants from £200,000, supporting initial research and development phases. Larger collaborative R&D projects, particularly those involving small and micro businesses, can potentially secure grants covering up to 70% of eligible project costs, with total project values sometimes reaching £5 million, translating to grants of up to £3.5 million. This substantial financial backing underscores the UK government's commitment to driving technological advancement and sustainable practices across its farming sector, ensuring that the industry remains competitive and environmentally responsible.
Investor Profile
Farming Innovation Programme has backed more than 27 startups, with 0 new investments in the last 12 months alone. The firm has led 26 rounds, about 96% of its total and boasts 0 exits across its portfolio.
Investment Focus Highlights
- Concentrates on Grant rounds (top funding stages).
- Majority of deals are located in United Kingdom, United States.
- Strong thematic focus on Agriculture, Farming, Manufacturing.
- Typical check size: $254K – $4.4M.
Stage Focus
- Grant (100%)
Country Focus
- United Kingdom (96%)
- United States (4%)
Industry Focus
- Agriculture
- Farming
- Manufacturing
- Biotechnology
- Agtech
- Food And Beverage
- Environmental Consulting
- Education
- Higher Education
- Universities
Frequently Asked Questions
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