Emerging Prairie
|
Location |
Fargo, ND |
|
|---|---|---|
|
Build to Scale Program |
Capital Challenge |
|
|
Project Name |
AgTech Venture Capital Fund |
|
|
Award Amount |
Federal Share |
Local Match |
|
$224,628 |
$224,776 |
Emerging Prairie will form the Emerging Prairie AgTech Venture Capital Fund. Agriculture technology (AgTech) includes technology in smart farming, precision farming, robotics and automation, vertical farming, biotechnology and biologics, big data and artificial intelligence, drones and satellites, and Internet of Things.
This fund will provide seed-stage startups with venture capital funding to help them accelerate towards success. The fund requires that businesses have a significant presence in North Dakota. Emerging Prairie intends to help solve the problem of lack of “organized capital” for entrepreneurs by creating a seed-stage venture fund. This fund will practice inclusive sourcing and filtering, as the traditional venture capital model underserves founders—especially those from diverse backgrounds. By creating a venture fund with inclusive practices in sourcing and filtering, Emerging Prairie can provide opportunities to AgTech companies throughout North Dakota.