Germany-headquartered advanced materials producer BASF has launched an agribusiness-focused accelerator called AgroStart in partnership with Brazil-based startup accelerator Ace.
AgroStart will look to fund South America-based startups developing agricultural technology that utilises the internet of things to improve crop efficiency. The first program started this week and will run until October 29.
Three startups from the first batch will receive R$150,000 ($47,000) to support further development of their products. BASF will consider providing additional investment through its corporate venturing subsidiary, BASF Venture Capital.