Reuters news reported yesterday that, “U.S. biotech company Monsanto and Microsoft announced on Monday a partnership to invest in agricultural technology startups in Brazil.
“Monsanto will join a Brazilian investment fund with up to 300 million reais ($92 million), managed by Microsoft, evaluating ideas for new digital tools to be applied to agricultural production in the country, executives said.”
The Reuters article added that, “Selected ideas will receive initial funding of up to 1.5 million reais ($459,000) for early development. Project owners will have the option to pay back the investment after three years or convert the money into equity.”
