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
Outside look from the inside: What a visiting economic fellow found in KC (rival BBQ is just a taste)
After spending his summer in Kansas City, the metro reminds Alvin Gusman a lot of his hometown, Austin, he said. The Texas A&M student is in the last two weeks of his 10-week Equity in Economic Development Fellowship with the Economic Development Corporation of Kansas City (EDCKC), reflecting on the experience. “I’ve actually really enjoyed…
55-shoe collection to online sneaker platform: How Nazr El-Scari opened a market to affordable, rare kicks
Sneakers are a distinct statement of individuality, Nazr El-Scari said, lacing up his venture’s sole purpose: to put dream shoes within reach “Growing up, I remember the excitement of opening a new pair of shoes. My older brother and his friends always had the dopest sneakers that you couldn’t find anywhere in Kansas City; it…
Fairwave adds another Minneapolis coffee company to its fresh-brewed collective alongside Messenger, Roasterie
FairWave Coffee Collective has pulled another shot of growth, serving up news Tuesday of its acquisition of a second Minneapolis-based purveyor in as many years. “We are thrilled to welcome Up Coffee Roasters to the FairWave collective,” Suzanne Gunning, vice president of marketing, said in a release. The acquisition keeps Kansas City-based FairWave on track with…
LaunchKC reviving $50K grants competition with 8 big checks for startups ready to call KC home
After a four-year hiatus, LaunchKC is officially set to bring back its signature grants competition. Early-stage tech companies will have the opportunity to each win $50,000 in non-dilutive grants, plus access to business support and networking. Co-founded by the Economic Development Corporation of Kansas City, Missouri, (EDCKC) and Downtown Council (DTC), the non-profit LaunchKC’s cornerstone…