What are the best ways to find R&D funding opportunities for your agribusiness?

1 Identify your R&D goals and needs

Before you start looking for R&D funding opportunities, you need to have a clear idea of what your R&D goals and needs are. What are the specific problems or challenges that you want to solve or address with R&D? What are the expected outcomes and benefits of your R&D projects? How much time and money do you need to complete them? How will you measure and report your progress and results? Having a well-defined and realistic R&D plan will help you narrow down your search for suitable funding sources and increase your chances of getting funded.

2 Explore public R&D funding sources

Agribusinesses have the opportunity to access public grants and programs offered by a variety of government agencies and organizations for R&D funding. These include the USDA National Institute of Food and Agriculture, Agricultural Research Service, Small Business Innovation Research Program, Rural Development, National Science Foundation, Environmental Protection Agency, Department of Energy, and European Union. However, it is important to be aware of the specific eligibility criteria, application procedures, and reporting requirements associated with each source. For example, the USDA National Institute of Food and Agriculture supports R&D in areas such as food security, bioenergy, climate change, and rural development. The European Union offers R&D funding opportunities for agribusinesses in Europe and beyond through programs like Horizon 2020 and the Common Agricultural Policy.

3 Explore private R&D funding sources

When it comes to R&D funding for agribusinesses, private investors and partners, such as venture capitalists, angel investors, foundations, corporations, and universities, are another source to consider. However, these sources have different motivations, expectations, and terms than public ones. For instance, venture capitalists provide large amounts of capital to high-growth and high-risk startups in exchange for equity and control; whereas angel investors provide smaller amounts of capital to early-stage startups in exchange for equity and mentorship. Foundations can provide grants or loans to social enterprises or nonprofits that align with their mission and vision. Corporations may provide funding or resources to startups or SMEs that can offer them strategic value. And universities can provide funding or expertise to startups or SMEs that can collaborate with them on R&D projects or commercialize their research results.

4 Network and communicate with potential funders

In addition to finding R&D funding opportunities, it is important to network and communicate with potential funders to build trust, credibility, and rapport. This will help you understand their goals, interests, and preferences, as well as showcase your value proposition and competitive edge. You can network and communicate with potential funders through various channels such as online platforms, events, and referrals. Online platforms, such as websites, social media, blogs, podcasts, and newsletters are great for sharing your R&D vision, achievements, and challenges. Events like conferences, workshops, webinars, and pitch competitions are great for meeting potential funders face-to-face or virtually and presenting your R&D ideas and solutions. Referrals from existing or previous funders, partners, customers, or mentors can also vouch for your R&D capabilities and potential.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?