“We are very clearly entering a new era in agriculture,” Monsanto CEO Hugh Grant said on January 5.
Fifteen years ago, Monsanto Co., a global agtech company focused on delivering agricultural products to farmers around the world, was spending about $550 million a year on research and development. In 2017, the company expects to spend approximately $1.5 billion, growth that stands as a testament to the Missouri-based company’s advances in R&D.
“Hundreds of new entrants invested more than $4.5 billion of venture capital in agriculture in 2015, which is more than 10 times the investment from just five short years ago,” Grant said. “More players than ever are seeking to provide new technologies to growers to enhance productivity, both profitably and sustainably. This is for good reason. Demand requires it and we are pleased to see the investment to spur this needed innovation.”
Missouri is the global leader in agtech and gateway to the future of advanced farming. Missouri’s agtech industry is leading the way with innovative technology and research that is transforming agriculture.