A recent study has exposed a significant deficit in funding within the agriculture and food sectors, coinciding with the official opening of the UK Agri-Tech Centre, which is hailed as the largest of its kind in the country. The study, conducted with 200 research and development (R&D) and technology decision-makers, has brought to light the fact that 51% of industry leaders consider technology implementation crucial in the next five years, while 48% have expressed worries regarding the lack of investments and innovation at various stages of their supply chain.
The foremost priorities for numerous agri-food businesses include growth, sustainability, and expansion, with 58% prioritising the former and 40% focusing on the latter. As a result, 40% of these businesses are intent on exploring new technologies related to sustainable production, while others are giving priority to areas such as food security and resilient food systems. Intriguingly, only 28% have shown interest in investigating the potential of artificial intelligence and machine learning, in contrast to the previously popular pursuit of robotics and automation.
Despite the mounting interest in technological advancements, the study has also revealed that access to funding proves to be a significant challenge for 39% of R&D and technology leaders, closely followed by a lack of resources and time, as well as difficulties in attracting investment.
The release of the Future of Agri-Tech Report coincided with the inauguration of the UK Agri-Tech Centre, an outcome of the merger between Agri-EPI, CIEL, and CHAP, with primary funding from Innovate UK. The centre is designed to foster stronger connections between science, business, and funders in order to drive R&D initiatives and support businesses in accessing funding, expertise, facilities, and collaboration opportunities.
Dr. Peter Quinn, chair of the UK Agri-Tech Centre board, has underscored the expertise of the centre’s specialists and the necessity of endurance and resilience in implementing commercial innovation. Meanwhile, CEO Phil Bicknell has highlighted the pivotal role of agri-food in the UK’s manufacturing sector and the ongoing challenges faced by the sector, including policy changes, input costs, and environmental sustainability.
Looking ahead, the centre intends to concentrate on key strategic themes such as innovation for resilient systems, sustainable production, one health and intelligent agriculture, with the aim of securing the UK’s food supply and stimulating economic growth.
In other news, Mosa Meat has successfully raised €40m to expand its lab-grown meat capabilities, indicating a growing interest in innovative food production methods.
The findings of the study and the establishment of the UK Agri-Tech Centre underscore the increasing importance of investing in agri-tech and addressing the funding gap to drive sustainable and innovative practices in the agriculture and food sectors. With a focus on collaboration, innovation, and resilience, the UK’s agri-tech industry has the potential to lead the way in ensuring food security, environmental sustainability, and economic growth in the years to come.