Tag: Horticulture

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MassChallenge selects MycoNourish to join global innovator network

MassChallenge Finalist - MycoNourish

MycoNourish was recently selected to participate in the MassChallenge Switzerland 2021 accelerator program. MycoNourish was selected from over 1,000 other startups to apply for the accelerator based in Lausanne, Switzerland.

Dr Peter Orrell, founder of MycoNourish said: “We are delighted to be selected for the MassChallenge Sustainable Food Systems acceleration program. MassChallenge Switzerland has a great track record in supporting startups from across the globe to grow their business. Our company has had a fantastic start, we’ve made lots of progress, and the program will help accelerate our journey to the next level. Being able to connect and form relationships with corporate industrial partners could prove to be instrumental for us in the future, and we look forward to tapping into the expertise provided by the pool of mentors. The additional benefits of workshops, connections to investors, and the potential of prizes will all aid in driving MycoNourish forwards at an exciting pace.”

Since 2016 MassChallenge Switzerland has been a leader in helping startups across Europe and beyond to grow their businesses. To date, 396 MassChallenge Switzerland alumni have raised more than $318M in funding and created value for both economies and societies around the world.

MycoNourish is an innovative biotechnology company, focusing on their ground-breaking technology which allows them to sustainably improve agricultural crop production with beneficial fungi. These fungi, known as ‘mycorrhizae’ act as a secondary root system for plants, and have the potential to help boost crop yields. Unlike other mycorrhizal products, which provide ‘one size fits all’ solutions, MycoNourish uses groundbreaking science to customise new advanced strains of these fungi to pair with specific crops, and tailor them to solve the most important problem in each one. This allows the MycoNourish team to take a ‘personalised medicine’ approach, tapping into their strong scientific foundation to develop bespoke solutions for each crop.

Sustainable technologies to improve crop production are becoming increasingly important. In high-value crops, such as strawberry, an average of 10% of the fruit produced doesn’t meet the standards required to be sent to retail. This leads to a significant amount of food waste, and in Europe, farmers lose €143B to this problem each year. The technology developed by the team at MycoNourish will not only help to improve profits for growers, but will also help to reduce food wastage and sustainably improve food security.

 

Notes to editors:

About MycoNourish

MycoNourish is an ambitious new biotechnology spin-out company established in 2018 with technology developed at the world-leading James Hutton Institute and its commercial subsidiary, James Hutton Limited. MycoNourish harnesses the power of microbes to enhance crop production and add value for growers, by customising beneficial fungi to suit specific crops and tailoring them to solve the most important production problem in each one. They use advanced scientific techniques and cutting edge technology to reliably and consistently produce stronger, more productive plants. www.MycoNourish.com

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About MassChallenge

MassChallenge is a global network of zero-equity startup accelerators. Headquartered in the United States with locations in Boston, Israel, Mexico, Rhode Island, Switzerland, and Texas, MassChallenge is committed to strengthening the global innovation ecosystem by supporting high-potential startups across all industries, from anywhere in the world. To date, more than 2,400 MassChallenge alumni have raised more than $6.2 billion in funding, generated more than $3 billion in revenue, and created more than 157,000 total jobs. Learn more about MassChallenge at masschallenge.org.

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MycoNourish raises funding to improve crop production with innovative customised microbes

“There are countless microbes that have both positive and negative effects on plant growth. Ensuring that crops are paired with the best ones offers a novel way of improving yields, and over 85% of the world’s crop species could benefit from our technology”
 

MycoNourish, an ambitious new biotechnology company and spin-out of the James Hutton Institute, announced today the completion of a £150K funding round led by Techstart Ventures. The funding, combined with a recent £125K Higgs Award from Scottish EDGE, will allow the company to grow the business and release their first two products targeted at enhancing yield and quality in strawberry and tomato crops.

The start-up’s innovative technology aims to sustainably improve crop production by taking advantage of microbes that work in symbiosis with crops. This is done with the assistance of beneficial fungi, known as ‘mycorrhizae’, which act as a secondary root system for plants, and work with crops to enhance yields. Using these beneficial organisms adds value for growers by increasing their margins and supporting them to be globally competitive.

With increasing pressures on the agricultural industry, ranging from changes in regulations and products no longer being available to labour shortages, it is vital for growers to maximise the amount of their produce that meets the highest grade. An average of 10% of strawberry production goes to waste as it doesn’t meet the quality standards required for retail – and MycoNourish harnesses the power of beneficial microbes to tackle these issues. €143bn is lost by growers to wastage each year across Europe, and technology such as this will form an important part of a toolset of sustainable improvements to tackle food wastage at the primary production stage, and improve food security.

MycoNourish founder Dr Peter Orrell said: “There are countless microbes that have both positive and negative effects on plant growth. Ensuring that crops are paired with the best ones offers a novel way of improving yields, and over 85% of the world’s crop species could benefit from our technology.

“We are delighted to have recently completed this investment round, which will enable us to bring our first two products to market. We found the pragmatic approach of our investors to align well with our company, and we look forward to working with them to commercialise this exciting opportunity.”

Techstart Ventures specialises in seed investment for ambitious early-stage companies based in Scotland and Northern Ireland. Investment Director, Robert Richmond, commented: “MycoNourish seeks to exploit the team’s extensive research and understanding in mycorrhizal fungi. Complementing the company’s innovative approach, we were also impressed with Peter’s clear vision on route to market in conjunction with the potential global reach for the company’s products. We also recognise the ongoing support that the James Hutton Institute and James Hutton Limited provide to Peter and the MycoNourish team.”

 

Notes to editors:

MycoNourish Limited is an ambitious new biotechnology spin-out company established in 2018 with technology developed at the world-leading James Hutton Institute and its commercial subsidiary, James Hutton Limited. MycoNourish harnesses the power of microbes to enhance crop production and add value for growers. They tailor beneficial fungi to suit specific crops and conditions using scientifically proven research and advanced technology, reliably producing stronger plants every time. www.MycoNourish.com

James Hutton Limited is the James Hutton Institute’s commercial subsidiary, providing a comprehensive range of analytical, research and development, breeding, and consultancy services to global customers and collaborators. www.huttonltd.com

Techstart Ventures is a leading investor of seed capital across Scotland and Northern Ireland. We are a trusted partner to ambitious founders on their journey to success. In Scotland, Techstart Ventures LLP manages the Scottish Growth Scheme – Techstart Ventures Equity Finance LP Fund which has been financed by support from the Scottish Government and the European Regional Development Fund from the 2014-20 European Structural Funds Programme in Scotland. www.techstart.vc 

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“The pioneering Scottish farming method that uses fungi for crops” – Scotland Means Business feature in The National

We were really pleased to be interviewed for the Scotland Means Business feature in The National: “MycoNourish uses this pioneering farming method on crops”. Check it out in the link below:

https://www.thenational.scot/news/17904302.myconourish-uses-pioneering-farming-method-crops/

“There are millions of different microbes in the world – some are good and some are bad – and they can have an impact on how crops grow. Many of these are found in soil. We specialise in “mycorrhizal fungi”, which act as a secondary root system for plants. The products out there at the moment are often one size fits all solutions, which have unpredictable effects on crops – they can either help plants or drain them of energy. We have developed a way of customising microbial strains, which allows us to tailor them for specific crops and target a range of plant growth traits. It gives consistent results and is reliable.

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Most existing products are a blend of several mycorrhizal fungi, which means their effect on crops are less predictable and vary in performance from one year to the next. It’s a one size fits all solution. Our products are advanced high-performance strains,

which have been tailored to suit specific crops. We’re taking what already happens in nature and refining the process for the highest benefit.“