Jeonnam Institute: AgTech Startups Attract Overseas Investment

Jeonnam's innovative agricultural technology startups have achieved remarkable results on the global stage, successfully stepping into the global AgTech market. This success is attributed to the overseas market entry support program of the 'AI Convergence Intelligent Agricultural Ecosystem Construction Project,' spearheaded by the Jeonnam Information & Cultural Industry Promotion Agency (hereinafter referred to as the Agency). The protagonists of this success are three Jeonnam AgTech startups—Turbine Crew, TevaX, and Cotgreen—who participated in 'AGRITECHNICA 2025,' the world's largest agricultural technology exhibition recently held in Hanover, Germany. These companies showcased AI-based agricultural automation and sustainable farming technologies, achieving the remarkable feat of signing a Letter of Intent (LOI) for investment and joint development with Brinc, a global accelerator and investor. Furthermore, by visiting RootCamp and Hafven, major institutions in Germany, they deeply discussed plans for establishing technology testbeds, joint research and development (R&D), and open innovation cooperation, thereby broadening their collaborative foundation with the European AgTech ecosystem. At the 'K-AgTech Mini Demoday' held locally, they demonstrated their potential by securing over 20 business meetings and initiating follow-up investment discussions through IR pitching aimed at European investors and accelerator representatives. Notably, the signing of an MOU between RootCamp and the Agency laid a solid foundation for future technology exchange and business support cooperation between the two regions. The 'AI Convergence Intelligent Agricultural Ecosystem Construction Project,' jointly promoted by the Jeonnam Agricultural Research & Extension Services, the Jeonnam Information & Cultural Industry Promotion Agency, and Jeonnam Technopark, is supported by the Ministry of Science and ICT and will be carried out for five years from 2024 to 2028. This project aims to strengthen the global competitiveness of Jeonnam AgTech companies and establish a foundation for market entry, providing diverse support both domestically and internationally. This recent achievement serves as an example of its successful beginning. The Agency plans to solidify the Jeonnam AgTech industry ecosystem by expanding connections with global agricultural technology markets beyond Europe and supporting the attraction of foreign investment. Kim Deok-hyun, head of the Smart Agriculture Center at the Jeonnam Agricultural Research & Extension Services, stated, "This achievement is just the beginning," emphasizing, "We will strengthen our overseas networks and follow-up support to enable local startups to gain greater competitiveness on the world stage." 'AGRITECHNICA 2025,' which gathered numerous companies and over 400,000 visitors, was a feast of the latest agricultural technologies, including automation, AI, and precision agriculture, under the theme of 'Touch Smart Efficiency.' Jeonnam's startups proudly demonstrated their potential and technological prowess amidst this global trend.