Irish AgTech company MagGrow has been named by the Global Cleantech Cluster Association (GCCA) as a Top 10 winner of its 2016 GCCA Later Stage Awards.
MagGrow has developed a crop-spraying product that reduces spray drift by more than 80 per cent which helps to produce more food, for less. This pioneering technology has led the way for MagGrow to be one of just 10 companies from around the world, and the only company from Ireland, to win a 2016 GCCA Award, in the food/smart agriculture category.
Founded in 2013 MagGrow, headquartered at NovaUCD, the Centre for New Ventures and Entrepreneurs at University College Dublin, is on the fast-track to success, employing 35 people with plans to rapidly recruit in coming months. The company has raised over €5.5 million to date and earlier this year won the prestigious international THRIVE Accelerator Sustainability Award at the 2nd Annual Forbes AgTech summit in California.
“Food production systems need to be more sustainable, if global demand for food is to be met. This is where MagGrow fits in. We are working in partnership with farmers in emerging economies to support food production where it is needed,” says Gary Wickham, CEO, MagGrow.
"The 2016 Global Top 10 Winners demonstrate investment grade, strong product differentiation, scalable business models and have market traction," said Dr Peter Adriaens, Head Judge of the GCCA Later Stage Awards.
"Narrowing down the nominations from more than 105 to 10 follows a detailed and robust data analytics process. The 2016 Global Top 10 are some of the world's most sought after and up-and-coming equity-investable cleantech companies across our member clusters."
Nominated by Sustainable Nation Ireland (SNI), MagGrow is recognised as a disruptor to the global food system. Aideen O’Hora, Director, SNI said, “MagGrow typifies the type of company that is transforming the concept of sustainability. They are taking a locally developed idea and bringing it to the world-stage, focusing activities and growth in emerging economies where there is a need to develop more sustainable food production systems.”
The 6th GCCA Awards were presented earlier this week in Little Rock, Arkansas, in conjunction with the Global Cleantech Summit 2016 and Reunion of Club de Madrid and P80 Group.