CGIAR System Organization - Consortium of International Agricultural Research Centers

11/21/2024 | News release | Archived content

Reflections on Risk, Reward, and the Future of Agrifood-Tech Innovation – The A4IP Flagship Event 2024

Under the patronage of the Italian Ministry of Foreign Affairs and International Cooperation, the A4IP Flagship Event 2024 delivered a resounding message: close international cooperation holds the key to unlocking the full potential of urgently needed agrifood-tech innovation. The event, held on 15 October under the theme "Navigating Risk and Reward in Agrifood-tech Innovation: The Power of Multilateralism," brought together a global cohort of policymakers, investors, scientists, and leaders from the public and private sectors to tackle the critical challenges facing the agrifood-tech ecosystem.

In today's rapidly evolving agrifood landscape, technological innovations are crucial for addressing key global challenges such as food security and climate change. However, these advancements are fraught with risks, particularly in regions where agriculture forms the backbone of livelihoods. These risks include long development cycles, biological dependencies, and climate variability, all of which drive investor hesitancy. For startups in this field, the stakes are high - evidenced by a daunting 90% failure rate across sectors. But, as highlighted throughout the event, multilateral cooperation provides an avenue for mitigating these risks and fostering collaboration across borders, sectors, and disciplines.