Microsoft yesterday announced their partnership with Monsanto, a leading biotech company to invest in agricultural technology startups in Brazil. Monsanto will join Microsoft’s Brazilian investment fund evaluating ideas for new digital tools to be applied to agricultural production in the country. The startups getting selected will receive initial funding of up to 1.5 million reais ($459,000) for early development and they can pay back the investment after three years or convert it 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).
Microsoft is also helping the agriculture industry in India. Read about it here.