MUNICH, 05-Apr-2017 — /EuropaWire/ — Agro Innovation Lab GmbH (AIL) is now starting their Startup Acceleration Program for the second time. Young companies with agricultural innovations can apply for the program from now until the end of May. The best product ideas, services and business models will be developed together with AIL, and the startups will receive support in establishing their position in the market. Following last year’s success in Austria, the program run by the joint venture comprising BayWa AG and RWA Raiffeisen Ware Austria AG will be expanded in 2017: This year, the Acceleration Weeks will be held in Austria and Germany and provide an even larger network of mentors.
AIL have made it their goal as an innovation platform to make new innovations accessible to the agricultural sector. To make this goal a reality, they support entrepreneurs in developing agricultural ideas and establishing their position in the market following the Startup Acceleration Programs.
“We are proud that Agro Innovation Lab received a lot of attention on an international scale last year, making it possible for us to already introduce our second Startup Acceleration Program. This year, we are again looking forward to numerous applications from all over the globe,” says Reinhard Bauer, Managing Director of Agro Innovation Lab.
Startup Acceleration Program 2017
Young companies worldwide can apply for the Startup Acceleration Program 2017 with their business ideas from now until the end of May. Following the application phase, the startups will be assessed by experts, and interfaces to the core agricultural units at BayWa & RWA will be identified. The six companies with the best or most interesting innovations will be invited in the second half of the year to participate in the four-month Acceleration Program held in Munich and Vienna on a rotating basis to develop their innovations further. During the program, the companies will have access to a large international network with well-founded know-how and years of experience and will be supported by mentors from BayWa & RWA.
First program successes
Last year 160 startups from 49 countries applied for the Startup Acceleration Program at AIL. From this pool of applicants, four companies from Italy, Slovakia, Israel and Austria were selected. Together with AIL, the young entrepreneurs worked intensively on their company portfolios and worked on the development of their own products – in the areas of plant biotechnology, irrigation systems and IT systems. Currently, talks are being held to discuss potential affiliations and a continuation of the collaboration within the framework of a strategic cooperation with BayWa & RWA.
About Agro Innovation Lab GmbH:
Agro Innovation Lab GmbH (AIL) is an innovation platform managed jointly by BayWa AG and RWA Raiffeisen Ware Austria AG with headquarters in Vienna. The purpose of AIL is to make new innovations accessible to the agricultural sector. Activities focus on the execution of Startup Acceleration Programs. During these programs, young companies are supported in developing their products and establishing their position in the market.
About RWA Raiffeisen Ware Austria AG:
RWA Raiffeisen Ware Austria AG is a group company of the BayWa Group. RWA Raiffeisen Ware Austria AG is a wholesale and services company of the Lagerhaus cooperatives in Austria for whom they offer a diverse spectrum of services. This ranges from the marketing of agricultural products, the trading of agricultural inputs; building materials and products for the home, farm and garden, to various service offers. In addition to these activities for Lagerhaus cooperatives, RWA is a group company with both domestic subsidiaries and subsidiaries in selected neighbouring countries in Eastern Europe.
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