Agricultural start-up accelerator The Agro Innovation Lab recognised by the Austrian Economic Chamber with the Global Innovator Award

BayWa and RWA’s Start-up Accelerator

MUNICH, 25-Jun-2018 — /EuropaWire/ — The Agro Innovation Lab (AIL), innovation platform of both BayWa AG and RWA Raiffeisen Ware Austria AG, has been awarded the Global Innovator Award for the “Born Global Innovators” category. With it, the Austrian Economic Chamber acknowledges the innovative successes the agricultural start-up accelerator has achieved since its founding in 2016. A total of 650 start-ups from around 70 different countries have so far applied to the AIL’s acceleration program. Ten young companies have successfully completed the program. For two start-ups, this led to an investment by or cooperation with BayWa and RWA. Shortly, the third AIL acceleration program will begin.

“Our goal is to play an active part in the future of the agricultural industry and develop innovations for our customers,” said Klaus Josef Lutz, BayWaAG’s chairman of the executive board. “We reach this goal by supporting start-ups all over the world dealing with new technologies and strategies specifically for the agricultural industry.”

The director of the AIL, Reinhard Bauer, accepted the award on behalf of the eleven members of his young team. “We have invested a lot of energy in the past years looking for groundbreaking ideas and promising start-ups. I’m proud of what we have achieved, and knowing our initiatives and contributions to both the international and domestic markets are appreciated makes me very happy.”

The Global Innovator award was awarded this year for the first time. The accolade was awarded during Austria’s largest export exhibition, the Export Day of the Austrian Economic Chamber.

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