Big Idea Ventures in tandem with UMass will help develop and commercialize new, sustainable food products and agricultural innovation.
The University of Massachusetts Amherst is among nine institutions chosen to collaborate with Big Idea Ventures to help develop and commercialize new, sustainable food products and agricultural innovation that will fuel economic development in rural communities, the New York City-based venture capital firm announced Tuesday.
In January, Big Idea Ventures launched the Generation Food Rural Partners (GFRP) fund, a $125 million target fund that aims to accelerate the commercialization of groundbreaking, university-developed intellectual property involving “the new food space.” North Carolina State was the initial collaborator.
“Big Idea Ventures is a good match for us,” says David Sela, associate professor of food science and director of the Fergus M. Clydesdale Center for Foods for Health and Wellness. “We’re into sustainability; we’re into innovation; we’re into real-world solutions; and that’s where our interests align.”