The Importance of Agritech in B.C.

British Columbia (B.C.) has always been a hotbed for agriculture, from orchards in the Okanagan to fisheries on Vancouver Island and grain fields in the Peace Region. Agriculture plays an incredibly important role in feeding the province, with nearly half of all foods consumed grown locally within B.C. Not only does the sector provide nourishment to those near and abroad, but it is one of B.C.’s 18 major sectors contributing more than $2.1 billion to GDP in 2021. Investments to expand the use of agritechnology (agritech) for increasing yields and reducing farming inputs will create a more resilient and sustainable food system for the province.

B.C. boasts more than 150 agritech companies, generating over $500 million in revenue, that address a variety of needs along the agriculture supply chain. In 2021, the Province of B.C. created the Regenerative Agriculture and Agritech Network to help expand best practices for using agritech to enable sustainable farming practices. Just a year ago, the province announced a new B.C. Centre for Agritech Innovation (BCCAI) that connects academia, industry and innovators as a part of the StrongerBC Economic Plan. As a result of this support, the growing agritech sector is well positioned to become a major contributor to socio-economic growth in the province.

What is agritech?

The agriculture sector encompasses activities related to growing or raising crops or livestock. Agriculture is an umbrella term that often includes horticulture and aquaculture. Horticulture refers to the growing of plants on a smaller scale than agriculture such as in gardens or greenhouses, while aquaculture refers to ocean-related areas of production within agriculture.

Agritech encompasses all technology in the agriculture industry that can help to reduce production inputs or improve efficiencies. Agritech can refer to a wide array of technologies, from plant biotechnology to AI and drones for farm management.

The main pillars in the agritech sector are:

How is InBC Investing in agritech?

We recognize that the growth of agritech can contribute significantly to economic development in the province while addressing key agricultural and environmental challenges. Some of the themes under which we are investing in agritech companies include (but are not limited to):

1. Sustainable and resilient supply chains
(Innovating for the Future)

Addressing vulnerabilities and optimizing processes for greater supply chain efficiency. Companies in this space are enabling food security by working on issues such as increasing yield at lower costs to make end products more accessible and affordable.

2. Sustainable food and agriculture
(Driving Climate Action)

Minimizing production inputs and harmful outputs in addition to creating innovative and sustainable products. There are many companies in B.C. that are addressing issues such as reducing the use of pesticides and fertilizers while managing water consumption.

3. Decarbonization technologies
(Driving Climate Action)

Mitigating climate change by reducing or capturing greenhouse gas emissions. Under this investment theme, companies are working on issues such as improving the carbon sequestration properties of soil to decrease the emissions of farming.

Investment into the agritech industry aligns with our impact objectives to drive climate action and innovate for the future.

Are you an agritech company?

If you are a growing agritech company in B.C., consider us as an investment partner in your next capital raise. We invest alongside other investors in companies raising a total of at least $5 million (typically Series A or later), generating revenue and looking for equity investment to support their scale up. Learn more about our investment criteria and express your interest here: