The Wells Fargo Innovation Incubator has selected 5 early-stage companies for the program’s agtech cohort.
Each company participating in this invitation-only program will receive up to $ 250,000 in non-dilutive funding and hands-on technical assistance to further develop and validate their technologies with the Donald Danforth Plant Science Center, the world’s largest independent plant science institute.
The Wells Fargo Innovation Incubator, or IN2, launched in 2014 with a focus on supporting scalable solutions that improve energy efficiency in commercial buildings. It expanded its charter in 2018 to advance the agriculture industry, which accounts for approximately 70% of the water and 14% of the energy usage worldwide.
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To help guide the selection process for the first agtech cohort, IN2 commissioned a white paper entitled “IN2 Food, Energy, Water Landscape” to determine where its impact would be most beneficial. Portfolio companies selected for IN2’s first agtech cohort are advancing technologies that focus on sustainable crop production and yield. They are:
With the addition of these 5 companies, IN2 brings its total portfolio count to 30 cleantech and agtech startups. Since joining the IN2 program, portfolio companies have raised $ 142 million from external follow-on funding — on average, more than $ 20 for every $ 1 awarded by IN2.