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
Mushroom lover finds the perfect spot to hunt: Her own warehouse in North Kansas City
Robin Moore loves to cook with mushrooms, but she couldn’t always find the variety — like Lion’s Mane — she wanted at Kansas City stores. So she started growing them herself; ultimately turning the surplus into her own small business. “I’ve researched and kind of taught myself,” said the founder of MyCo Planet, who initially…
MO-built app enhances AMBER Alert system, rallying users to search for missing children
People care about saving missing and exploited children, said Josh Schisler — but the current alert system is outdated, leaving members of the public without a clear understanding of how they should respond to alerts. “I think there is no shortage of people who would be happy to take a few minutes from their day…
RNAi-tech startup takes lead from psychotropics, medical cannabis veteran with new CEO pick
ST. LOUIS — Steve Meyer sees opportunity in RNAissance Ag — an offshoot Kansas City-grown TechAccel — especially its portfolio of safe biopesticides and novel RNAi manufacturing technology. “I believe the full potential of RNAi-based solutions in agriculture is yet to be seen,” said Meyer, the company’s new CEO. “This innovative technology not only has…
KC firm invests $56M in LGTB+ owned 10KC to reimagine a more inclusive workplace (that employees won’t want to leave)
A funding infusion from a leading Kansas City venture capital firm comes at a critical time as employees struggle to connect in a hybrid work world, said Ten Thousand Coffees (10KC), announcing its first institutional raise since the company’s 2014 formation in Toronto. Originally bootstrapped, 10KC will use the $56 million investment from Five Elms…