In 2017, CoBank and seven other Farm Credit institutions partnered with Innova Memphis to launch Innova Ag Innovation Fund IV (Innova). The fund is an early stage investment fund focused on investing in technology startups that aim to deliver solutions for the challenges faced by today’s farmers and ranchers.
The $31 million fund works with a broad coalition of partners to grow and bring to market innovation in agriculture. To offer a venture the best chance for commercial success, Innova uses a “farmer centric approach” to place impactful technologies into the hands of farmers for product development and testing.
Innova was formed as a Rural Business Investment Company (RBIC) and is licensed by the U.S. Department of Agriculture through its Rural Business Investment Program (RBIP) to promote economic development in rural America.