Ag venture group TechAccel invests $250K in research partnership
December 9, 2016 | Meghan LeVota
A new partnership will advance agricultural innovation in the state of Missouri.
TechAccel, a Kansas City-based technology and venture development firm, recently announced it will work with the Donald Danforth Plant Science Center, a St. Louis-based nonprofit research institute.
TechAccel will provide $250,000 in grants to the Danforth Center to help it demonstrate proof of concept and commercial feasibility with research projects affiliated with the research center. The two organizations will split returns on the technology they commercialize.
Founded in 2014, TechAccel specializes in ag and animal health technology. The firm invests in, sources and acquires early-stage innovations through collaborations with various institutions.
TechAccel CEO Michael Helmstetter said that the partnership is an important milestone for the company as well as the agricultural ecosystem.
“Agriculture research can and will change the world, but only if it has the backing to move from concept to proof to product,” Helmstetter said in a news release. “We bring capital coupled with science advancement to support that push to the finish line — the commercial market.”
The Danforth Center’s mission is to improve the human condition through plant science. Although the nonprofit has received grants in the past, the partnership with TechAccel marks the first grant specifically targeted at commercializing its innovations.
“The Path to Commercialization program provides a new tool for translating our discoveries into real-world solutions,” Danforth Center president James C. Carrington said in a release. “We look forward to seeing even more of the Danforth Center’s research delivering transformative products and technology to market.”
TechAccel participates in a similar research partnership with the University of California-Davis established in April 2016. As part of the Science Translation and Innovative Research program at UC-Davis, TechAccel invested $400,000 for grants to commercialize or prove out agriculture- and animal health-related innovations.
2016 Startups to Watch
stats here
Related Posts on Startland News
Sailes closes $5.1M investment round led by STL firm, with KCRise Fund, Wichita VC
The foundation for Sailes has always been solving difficult problems for sales teams, said Nick Smith; the success of a Series A funding round for the startup will power new tools toward that goal. “Everyone is on this AI hype train, and we’ve been for AI for a while. But it’s not just about using…
EquipmentShare completes another $150M equity raise, building on its Series E funding
COLUMBIA, Missouri — The latest tranche of funding for EquipmentShare puts mid-Missouri’s most earth-moving scaleup close to a half-billion dollars in funding announced over the past six months. EquipmentShare, a Columbia-based equipment and digital solutions provider serving the construction industry, on Wednesday announced it completed an extension of its Series E equity raise, led by funds…
Tesseract Ventures illuminates its work with US military, lighting new alert system for air force base
A new military contract showcases Tesseract Ventures’ versatility and sophistication in the national security tech space, said John Boucard, touting the Overland Park-based company’s cutting-edge Alert Route Lighting System planned for MacDill Air Force Base in Tampa. “Tesseract continues its focused mission to revolutionize the way people live, work, and play by developing state-of-the-art technologies…
Anonymous donor makes $50M commitment to KU School of Business; largest gift in school history
LAWRENCE — A hefty anonymous donation is expected to transform business education and research at the KU School of Business, said Paige Fields, noting the $50 million commitment will also provide funds to advance key initiatives supporting undergraduate student success. “This transformative gift supports the School of Business’ ongoing commitment to excellence in research and…