Unique combination of investment and mentorship for agri-tech start-ups attracts new funding partners.
The SHAKE Climate Change entrepreneurship programme has secured £845K to invest in new projects that will help deliver the next generation of climate friendly farming.
Based on a unique funding model, SHAKE helps entrepreneurs and start-ups who are combating climate change with science or tech-based ideas in the areas of agriculture and food production.
Those ventures that progress through all three phases of the programme will receive up to £125k funding and two years of expert mentoring to help build their business.
Now in its fourth year, the Programme is hosted and led by Rothamsted Research as part of a consortium with three leading universities – Cranfield University, the University of Hertfordshire and University College London.
Original funding for the initial 4 Cohorts came from the Societe Generale UK Foundation, who are now joined by three more investors to enable SHAKE 2024 – Climate Change Cohort 5: Beeches Capital, the Lawes Agricultural Trust, and The Novo Nordisk Foundation.
“Having witnessed the breadth of ideas, entrepreneurial spirit and dedication of the ventures involved, as well as their scaling-up potential, the Foundation is proud to have been part of SHAKE’s origins and we are pleased to continue to support it alongside new partners”, said John Oberman, Chair of the Societe Generale UK Foundation.
Director of Innovation for Rothamsted Research and member of the SHAKE Programme Steering Group, Rob Hill said: “SHAKE is unique in the UK as the only research-led seed investment programme for agri-tech ventures with a positive impact on climate change.”
The programme focuses on closing the gap in business development between the early start-up stage and investable ventures, through provision of expert care and advice, sourced through the high-profile consortium and its associated network of mentors.
The first four cohorts, from 2019 – 2022 involved a total of 64 entrepreneurs with 11 successful ventures ultimately selected by SHAKE for investment.
Many of these early ventures have already notched up some impressive successes. Seven of the original eleven funded have each raised over £1m in further investment after SHAKE nurtured their early growth. Bristol-based Glaia, for instance, which is transforming how plants grow, benefitted from SHAKE funding and mentoring in 2019 and secured a further £1.3m in investment funds. Economad, which specialises in small on-farm biogas generators, has also broken the £1m investment mark.
Together, the group has raised almost £15m in additional seed stage funding and several are getting ready for series A.
“Virtually every step in the value chain associated with agriculture impacts on climate – from how food is grown or reared, to the way the food is harvested, transported, stored and distributed,” said Hill. “In addition, farmers themselves face increasing pressure to deliver sufficient food sustainably, whilst dealing with increasingly unstable climates.”
“At SHAKE, we believe Entrepreneurs have a unique role to play in countering these challenges; they are agile and flexible in their approaches and with the support from the extensive SHAKE network they are poised to make a real difference in the world. It has been a privilege to help shape some of these journeys,” said Hill.
Professor Angela Karp, CEO of Rothamsted Research and Programme Director for SHAKE added, “We are thrilled to see that many of the SHAKE ventures have accumulated several awards for their innovations. We are grateful to have the continued support of Societe Generale UK Foundation and with the added backing of our new partners Beeches, LAT and the Novo Nordisk Foundation, we look forward to adding more ventures to our ecosystem.”
“Food systems´ transformation is a global challenge that requires entrepreneurial spirit and courage to address. Fulfilling the potential of research findings and translating them into solutions that make a positive difference in society is a challenging endeavour. The support and training provided by SHAKE Climate Change is central for fostering entrepreneurs and shaping their solutions to generate impact”, said Thomas de Bang, Senior Scientific Lead – Agriculture, at the Novo Nordisk Foundation.
Applications are now open. If you share our commitment to innovation, entrepreneurship and sustainability, please contact progamme manager, Krista Friis at krista.friis@rothamsted.ac.uk for more on how you can become part of the transformation.
Further details at http://www.shakeclimate.org/ and follow SHAKE https://www.linkedin.com/showcase/shakeclimate/ for the latest updates.
Deadline for applications is January 6, 2025.
Commitment:
Applicants will have to select one representative from their company who can commit fully to participate and work with SHAKE for phase 1 (around six days’ worth of online workshops, starting on February 4) and phase 2 (roughly three months duration from February 2025).
Eligibility:
Start-up companies that target the agriculture sector with an innovative idea and new products and services that deliver a tangible, positive impact on climate change.
Ventures must be incorporated in the UK (registered with Companies House or will register to company house if selected to receive investment).
