The Italian Ministry for Agriculture is to launch a $20m fund for agritech startups.
The new initiative, which will partner with venture capitalists and business angels, aims to nurture startups with innovative products and business models and capable of generating new jobs.
It will work by acquiring minority stakes in companies which will have already received private equity capital.
The fund, which will be addressed to startups led by young entrepreneurs, will be managed by Ismea.
This public inititative follows the recent launch of Italia Venture I, the €50m vc fund dedicate to Italian startups and Innovative SMEs created by Invitalia, the agency for attracting investments, which is owned by the Ministry for Economic Affairs.