Memphis Bioworks Foundation will help lead a new agri-tech accelerator program thanks to seed funding from the state and U.S. Department of Agriculture. AgLaunch, aims to establish 100 “investable” agricultural businesses across Tennessee by 2020 via the efforts of what is expected to be 200 entrepreneurs. The USDA Rural Development and the Tennessee Department of Agriculture announced $220,000 in initial funding. Memphis Bioworks is trying to get an additional $10 million in private and public funding over the next five years.
