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More innovation and an expanded use of technology is needed for food production to meet the challenges of the future. A recent study by the European Investment Bank’s Advisory Services team looks at how research and innovation is being financed in the European agri-food sector, and underscores where improvements can be made.
The study highlights the sector’s need for more and better-tailored finance and increased innovation if it is to meet the food needs of a growing world population while continuing to respect the UN’s Sustainable Development Goals. The study also makes clear that the sector’s slow growth, fragmentation, risk aversion, low levels of innovation spending and limited adoption of new technologies need to be addressed urgently to assure food security in the future.
The report provides a clear argument for more EU support in mobilising finance for innovative companies in the European agri-food sector. Promising developments like crowdfunding, mini-bonds and advanced risk sharing mechanisms can help flow more funds to innovators and farmers.
The study was carried out by InnovFin Advisory in collaboration with the support of Roland Berger and Wageningen University.