The prize is from Alexandria Real Estate Equities Inc., through its Alexandria LaunchLabs-AgTech, a Research Triangle, N.C., accelerator. The prize consists of $75,000 in cash and a year membership to LaunchLabs AgTech, a $25,000 value, according to a news release.
"Strategic efforts like our AgTech Innovation Prize are vital to fostering the next generation of leading agtech companies who hold the promise of developing groundbreaking solutions aimed at ensuring a sustainable, accessible and healthy global food supply," Blake Stevens, head of Alexandria LaunchLabs – AgTech, said in a news release.
About 70 agtech companies applied for the prize, which was narrowed down to seven entries. Those applicants pitched their technology via video to the judges’ panel, according to the release.
TerMir was chosen for the AgTech Innovation Prize based on its proprietary, patent-protected technology that has a new mode of action to control the bacteria that causes citrus greening disease, its experienced leadership team and its traction in the agtech industry, according to the release.
“Alexandria remains focused on providing mission-critical infrastructure and capital to the essential agtech industry that has garnered increasing attention in the face of a growing population and changing weather patterns, as well the COVID-19 pandemic, which has further highlighted the need to transform the food supply chain and enhance the nutritional value of food,” Stevens said in the release.
"The TerMir team is excited to be selected as the prize winner and to become an active member of the campus communities of Alexandria LaunchLabs – AgTech and the Alexandria Center for AgTech," Chad Brommer, co-founder of TerMir, said in the release. "We look forward to making the most of Alexandria's world-class network of industry experts and investors and its unparalleled offerings."