Skip to main content

Microsoft and Monsanto partner to invest in agricultural technology


Microsoft and Monsanto partner to invest in agricultural technology
U.S. biotech company Monsanto and Microsoft announced on Monday a partnership to invest in agricultural technology startups in Brazil.

Monsanto will join a Brazilian investment fund with up to 300 million reais ($92 million), managed by Microsoft, evaluating ideas for new digital tools to be applied to agricultural production in the country, executives said.


 Selected ideas will receive initial funding of up to 1.5 million reais ($459,000) for early development. Project owners will have the option to pay back the investment after three years or convert the money into equity.
“We want to foster new startups in the agricultural sector. There is a vast area for research and development,” Rodrigo Santos, head of Monsanto in Latin America, told reporters on the sidelines of the Global Agribusiness Forum (GAF 2016).
Technology company Qualcomm is also investing in the fund.
Labels:

Comments

Post a Comment

Popular posts from this blog

Queen of Nollywood, Adaeze Okoro, dethroned over alleged arrogance, pride

Organizers of the Miss Nollywood Beauty Pageant have announced the dethronement of one of their queen, Grace Okoro Adaeze.
2 comments
Read more

Breaking: MMM resumes operation, lifts restrictions on participants accounts

Lagos – Participants in the Mavrodi Mondial Movement (MMM) on Friday heaved a sigh of relief as the money-spinning venture promoters announced their resumption after one month break that left them in suspense. MMM promoters in a message to the participants on its portal reassured them that it was in line with its promise to resume after a month The participants have flooded social media with messages depicting high hopes as the promoters of the ponzi scheme re-opened. In the MMM message, participants are told that “the holidays are over and restrictions on accounts is lifted and reopened for transactions. “The holidays are over, and we’re now open. Just as promised. You might have already noticed that we always stick to our promises,’’ the message said. The message displayed on the pages of all participants of the scheme cheered its members as it reopened a day earlier than promised. According to the message, panic will reign in the first few days after the re-opening of t
2 comments
Read more

LG sells mosquito-repelling TV in India to help fight malaria and Zika

The Indian arm of South Korea’s LG Electronics Inc has begun selling a TV with a feature that it says repels mosquitoes, which can spread diseases such as malaria, Zika and dengue.
2 comments
Read more