February Edition 2023

14 known territories in the in the Ag- Tech and Foodtech sectors." In fact, the U.S., UK, Canada, Denmark, India and Singapore are among those already rolling out massive funding for national food technology programs. If Israel wants to remain at the front, it will need a national strategy and investment. “The U.S. continues to impress as a center for food and ag-related innovation,” points out Shabot of Greenberg Traurig. “There are just a lot of companies, a lot of entrepreneurs and a lot of science, including at universities that are dedicated to various applications of agriculture. Not just on the investor side, but also on the innovation side. On the investor side, we are seeing more interest from in Europe, especially from France which is home to some of the biggest global food companies. Brazil is a major world player in terms of food commodity exports and internal production. Brazilian food companies are rightly looking for staying abreast of changes in the food industry. Even though for a few years there was tremendous interest from Chinese investors and Chinese strategics in food innovation, but recently that has been extremely quiet.” “Many governments in developing countries attempt to foster agricultural development and innovation,” adds Krapivensky of Taylor Wessing. “They do this by setting up funding facilities, extension programs, and research centres and by subsidizing private-sector and farm activities through fiscal measures. The United Arab Emirates, for example, is investing heavily in AgTech, seeking to make Abu Dhabi the global centre for innovation in agriculture. Their focus is on vertical farming, aquaculture, and hydroponics. And they’re working to be strategic in attracting investment and solving for food security, while also developing a knowledge economy. In the UK, for example, the Government has announced a further £16.5 million to drive innovation in agriculture. Funding will be divided among the successful applicants of two competitions: the £5.5 million Feasibility Projects competition, and the £11M Small R&D Partnership Project competition.”