The non-profit arm of venture capital firm of the same name, The Yield Lab Institute (YLI), received a one-year grant from the Bezos Earth Fund to support the development of the Global Cattle Innovation Platform (GCIP), which will assist start-ups in the beef and dairy sector test, validate, and commercialize their products and services.
Approximately 18 months ago, YLI inherited the Wells Fargo Innovation Incubator agriculture program, rebranding and relaunching it as the H.A.R.V.E.S.T platform, standing for Harnessing Agricultural Research and Venture Ecosystems for Sustainable Technology.
GCIP and H.A.R.V.E.S.T connect founders and start-ups with research institutions and industry experts to de-risk their innovation, improve commercialization prospects, and boost the adoption of the underlying technology, Stephanie Regagnon, executive director of YLI, told AgNavigator.
The idea was to re-create the success the program had with supporting crop innovation and move the methodology into the cattle industry, Regagnon noted.
The funding will support recruiting roughly 10 industry partners, with the goal of launching the first cohort of start-ups in six to nine months, she added. Additionally, GCIP will support innovative start-ups across the U.S. and Brazil, given the countries’ role in global beef production, she noted.
“The United States market and the Brazil markets are different, but they are both vitally important to beef production. And so, we really believe we can cast a wide enough net whenever we go out with what our technology targets will be that we can capture and select and elevate and de-risk technologies that could be relevant in both regions,” Regagnon added.
This program will be developed during a crucial moment in the beef industry and strong demand for protein. Given the challenges the industry faces, “there’s a big blue sky” when it comes to developing innovative technologies, Regagnon noted.
“The U.S. herd is down, and these producers need help. And at the end of the day, there are absolutely solutions that can be good for the planet but also good for the producers’ bottom line ─ and that’s really the sweet spot we’re seeking,” Regagnon elaborated.
