In 2016, the USDA and state agri-tech companies announced a partnership to invest $100 million in agriculture technologies and $200 million in research and development for the future of agri technology.
The goal was to develop new agri science and agricultural technologies, which would make agriculture more efficient and efficient for farmers, according to the agreement.
The aim of the research and technology projects was to identify the best technologies for farmers to grow and market in the next generation of agribusiness.
“Agricultural technologies are an important part of the agricultural enterprise, but we are in need of new agribuses that are designed to enable farmers to farm their own crops and feed their own families,” said David Zolna, chief scientific officer at USDA’s agri technologies division.
Agribusier, the industry group that works on agri and agri tech, says it will invest $50 million in agricultural technologies this year and $100 billion over the next decade.
The agritech companies that joined the deal are: Bayer, which makes Agrochemicals and Agrotechnology products; American Biosciences, which develops technologies to improve soil and crop nutrient management; BioEnergy, which creates biodegradable biosolids; and CropScience, which focuses on plant genetics, crop nutrition and pest control.
The first three agriTech companies that have joined the $100-billion investment fund are also among the top seed companies in the United States.
They are: United States Bioscience, a biotechnology company based in Dallas, Texas; United States Bio, based in Phoenix, Arizona; and United States Biotechnology, based out of Fort Worth, Texas.
The USDA is investing $200 billion in agriculture over the coming decade.
AgriTech, however, has struggled to gain a foothold in the marketplace.
While seed companies are investing billions of dollars in their own innovations, agri is facing a shortage of agro-technology to meet growing demand in agriculture.
The USDA says it is investing an additional $300 billion in agri sciences, agricultural research, and biotechnology over the course of the next five years.
But it is unclear how the agency plans to use its new funds.
“The USDA will focus on using this $100B investment to support innovation and to expand access to agri research to farmers, consumers, and the agricultural research community,” said Julie M. Smith, the assistant secretary for agri, agro, and bio technologies.
“To do that, we need to build a more robust and integrated ecosystem of technology partners.
We know that we need a combination of the best and brightest people to solve the challenges that we face in agro.”
Agri-Tech is still a small market for agriculture and is in its infancy.
There are currently approximately 1.8 million farmers in the country that rely on agrotech, according a report from the US Department of Agriculture.
“There are still lots of farmers who are not ready to invest in agrifood because they are still getting ready for the next crop and not sure what the future holds for their crops,” Smith said.
Agri-Technology, which includes agricultural research and agribUS, is working to find a way to increase demand for agrify food, including better products for farmers and improved quality of life.
Smith said that Agri Tech’s focus is to provide solutions for farmers who can’t afford to buy their own products, and that the company has already started working with local farmers and food businesses to bring them new products.
Smith also said that agri Tech is working with the USDA to expand agro food distribution.
“This is a way for us to bring the best of agrific tech to farmers,” she said.