-- Agribotix Wins $250,000 Advanced Industry Accelerator Grant --
BOULDER, COLORADO, May 18, 2015 – In a competitive selection process, Colorado’s Advanced Industry Accelerator Grant Program awarded $250,000 to Agribotix. A pioneer in turnkey drone data collection and analysis, Agribotix offers a cloud-based software platform for analyzing imagery collected by agricultural drones, available to anyone, anywhere in the world. The on-demand service processes drone-collected data and returns actionable recommendations, including everything from an overhead view of a field used to spot problem areas, to a zone map for precise fertilizer application.
Founder and CTO, Tom McKinnon, says the Colorado grant will help Agribotix strengthen its leadership position and more quickly develop its global market for drone data collection and analysis for agriculture.
The grant was created by the Colorado Office of Economic Development and International Trade to identify and advance the most innovative, viable technologies, created or manufactured in Colorado and exported globally. Agribotix will leverage the grant to accelerate customer acquisition and implementation of its information products with partner growers and to enhance its product offerings, facilitating rapid scaling in response to the growing global agricultural drone market. With its focus on aerospace systems integration and leadership in agriculture-specific drone technologies, Agribotix positions Colorado to capture a significant share of the small Unmanned Aerial Systems (sUAS) global market. It is estimated that the commercial drone market will exceed $1 billion annually by 2018.
“The OEDIT grant will substantially hasten our plans to develop our market. Significantly, it also signals validation of our technology and business model by industry experts. We feel that we have the right stuff to lead the pack in global markets and contribute to Colorado’s economy,” said Tom McKinnon, Agribotix founder and CTO.
CEO Paul Hoff said, “The State’s commitment to innovation makes a tangible difference for us. This grant will accelerate our plans by almost a year. We’ve gathered data analysis requirements from farmers around the world – everything from cotton in Texas, to wheat and onions in Mexico, to oil palm in Indonesia. Part of the grant will be used to better understand customers’ needs and drive product development for a viable global product.”