Agricultural Innovation Fund 2024 Launches with €100 Million Budget

A new €100 million initiative, the 2024 Agricultural Innovation Fund, has been launched by Italy’s Ministry of Agriculture. This substantial funding aims to accelerate technological advancement within the agriculture, fisheries, and aquaculture sectors, supporting Italian businesses as they adapt and modernize.

Empowering Technological Advancement and Safeguarding Farmers

• The fund targets companies that produce cutting-edge agricultural machinery, promoting the use of advanced technology to optimize efficiency across farming and related industries.

• A portion of the fund will be dedicated to safeguarding the livelihoods of Italian farmers, with investments directed toward sustainable practices and protective measures.

• Additionally, in recognition of the challenges caused by recent severe flooding, a segment of the budget will assist farmers and agricultural enterprises recovering from disaster-related damages, facilitating both recovery and future-proofing efforts.

Important Dates for Application

The Istituto di Servizi per il Mercato Agricolo Alimentare (Ismea) will oversee the fund’s implementation. Businesses should be aware of the following key dates:

• Pre-registration and Pre-approval Period: From November 15, 2024, at 12:00 PM, until December 13, 2024, at 12:00 PM, companies can complete the pre-validation of their funding requests through an online platform.

• Formal Submission Window: Applications will officially be accepted from December 18, 2024, starting at 12:00 PM.

Intended Use of the Funds

The fund will support investments in modern equipment across several sectors:

• Agriculture: Upgrading to innovative tools designed to enhance crop production and operational efficiency.

• Animal Husbandry: Adopting technology that improves livestock management processes.

• Fisheries and Aquaculture: Modernizing equipment to support sustainable practices and improve productivity.

Eligibility Requirements

To qualify, businesses must prove that the new machinery will replace older equipment, emphasizing the fund’s goal of fostering sustainability and efficiency in Italy’s agricultural practices.

The 2024 Agricultural Innovation Fund represents a pivotal investment into the future of Italy’s agricultural sectors, promising to drive innovation while addressing the impact of climate challenges on the nation’s farming community.