[A4IP Flagship Event 2024] Navigating Risk and Reward in Agrifood-tech Innovation: The Power of Multilateralism

In today’s world, where rapid technological advancements intersect with growing challenges in global food systems, agrifood-tech innovation is pivotal to addressing key issues such as food security, climate change, and sustainable agriculture. However, the development and scaling of these innovations are often accompanied by significant risks, both financial and operational, especially in low- and middle-income countries (LMICs) where agriculture forms the backbone of livelihoods.

High startup failure rates across sectors – approximately 90% – highlight the complexity and uncertainty of developing and deploying early-stage innovations1. This is especially true for agrifood-tech, where biological cycles, seasonal dependencies, climate variability, and strict regulatory frameworks extend development timelines. Furthermore, low buy-in among farmers and cooperatives—due to barriers like high costs, limited technical knowledge, and affinity for traditional practices—complicate scaling efforts with lower end-user adoption.

The inherent unpredictability of agrifood-tech innovation demands innovation ecosystems actors that are prepared to embrace high levels of risk, yet the above sector-defining challenges, among many others, intersect and compound to reinforce high risk perception and investor hesitancy. Moreover, profit-oriented private capital tends to withhold from innovation activity that is yet to prove sustainably viable and scalability, while the dominance of large corporations in R&D can lead to an uneven competitive landscape for innovators, making it difficult for smaller players to secure the resources. In 2023, agrifood-tech accounted for only 5.5% of global venture capital activity, down from 6.7% in 2022 and 7.6% in 2021, with investment in startups at its lowest point in six years.

Objective

This event focuses on how international cooperation and multilateral frameworks can play a critical role in mitigating risks and investor hesitancy in agrifood-tech innovation development and deployment. In-depth discussions will explore how governments, international organizations, and the private sector can pool resources, share knowledge, and co-invest to support the growth of solutions. Participants will benefit from expert insight and pioneering models showcasing how multilateralism can successfully mitigate risks, spur innovation, and yield tangible rewards for farmers, investors, and societies.

Throughout the event, speakers and audience members will:

1. Discuss challenges and opportunities for agrifood-tech development, identifying means through which academia, industry, investors, and governmental actors can navigate them.
2. Highlight the critical role of multilateralism in fostering technology transfer and commercialization of agrifood-tech innovations for global food security, promoting models for collaborative innovation and deployment.
3. Showcase high-potential, scalable innovations and foster collaboration among key stakeholders in agrifood-tech.

Date: Tuesday, 15 October 2023

Time: 15:00 – 18:00 CEST

Format: Zoom Webinar

To virtually attend the event: Register here

To learn more: Explore the agenda here