On May 21, 2020, the Wells Fargo Innovation Incubator (IN2), a technology incubator and platform funded by the Wells Fargo Foundation and co-administered by the U.S. Department of Energy’s National Renewable Energy Laboratory, announced that it has selected six new participating startups focused on agriculture technology solutions to join the program.
The new companies represent IN2’s seventh cohort and share a focus on developing technologies that support the agricultural sector while reducing environmental impact. Agtech investing has shown great promise even with current economic uncertainties. A recent market analysis predicts investment dollars to reach $6.9 billion this year, doubling since $3.4 billion in 2017. The IN2 program expanded its focus to agtech in 2018 to address the growing impact of the agricultural sector on carbon emissions.
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