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The Federal Ministry of Agriculture promotes agricultural start-ups that advance agriculture with an innovative idea. Initially, eight million euros per year are available for the funding programme, which comes from the federal government's special-purpose assets at Landwirtschaftliche Rentenbank. After two years, the programme will be evaluated and could then be further increased, according to a press release.
The maximum funding is 400,000 euros for a single start-up, and even 800,000 euros for projects classified as "particularly innovative". The amount is paid out in the form of a low-interest subordinate loan, and the use of external consulting, training and coaching is also promoted on the basis of "innovation vouchers". Start-ups can be reimbursed up to 90 per cent of these expenses against proof.
"Many promising start-up ideas fall by the wayside because they simply run out of financial steam at a crucial stage until they reach a stage where they are interesting to potential investors," said Parliamentary State Secretary Hans-Joachim Fuchtel. "We are closing this gap with our stimulus funding programme. Because we need clever ideas to modernise and digitalise agriculture and thus drive the transformation process forward.".
(uka / Photo: German Wine Institute)