Site icon Asset Finance Compared

Plans to invest £90 million to improve technology in agricultural industry

Agriculture industry set for £90 million investment to improve technology in the industry

Business Secretary Greg Clark has announced plans to invest £90 million in UK agriculture to improve technology within the industry.

The funding will be delivered through the Industrial Strategy Challenge Fund, a government initiative to ‘strengthen UK science and business innovation’.

The investment fund will seek to ‘bring together AI, robotics and earth observation to improve supply chain resilience in the agri-food sector’, according to the government.

The UK agri-tech sector currently employs 500,000 people in the UK, contributing £14.3 billion to UK economy.

Business Secretary, Greg Clark, said: “With the technological revolution that is happening, the skills of the farming workforce need to keep pace.

“New technologies require new abilities and today’s modern British farmer is a Swiss-Army-Knife of skills. An engineer, an environmentalist, a data scientist a biochemist, an energy producer, a tourism entrepreneur, and an investor too.”

If you are looking to purchase new agricultural technology, get a Decision in Principle in 60 seconds now, wherever you are.

Alternatively, contact us on 01773 864 864, email hello@assetfinancecompared.co.uk or fill in an enquiry form for further information.

Exit mobile version