Small to medium sized farming businesses with plans for ground-breaking new developments are eligible to apply for substantial grants.
Applications are now open for the £5 million Farming Innovation Investor Partnership competition.
The scheme is aimed at agri-tech businesses which are developing innovative solutions and technologies.
They need to show that their new initiatives will make their farming more productive, sustainable and resilient.
The competition combines grant funding with private investment.
Defra will award grant funding for experimental development projects such as a pilot or prototype of an innovative technology that is close to the market with demonstrable benefits to farmers, growers and foresters in England.
Private investment will then come from Innovate UK’s Investor Partner Pool which comprises around 80 investors with the expertise and appetite to invest in innovative agri-tech businesses.
Private investment can be used to support wider company growth and scale ambitions outside of the aligned project.
Eligible project costs must be between £750,000 and £3 million and last 18 months.
Projects must start by 1 April 2024 and demonstrate benefits to farmers and growers in England, and must be led by a sole UK-registered micro/small or medium business. Defra will fund between 45 per cent and 35 per cent of eligible project costs, depending on business size.
Aligned private investment must be at least twice the amount of the grant requested to complete the project and support the company to grow and scale.
Applications, which need to be in by 30 August, can be made via Innovate UK’s website.
