Keep Agtech Investment Coming | Scouting for Food is STLMade | Edward Jones' VC to Benefit Families | More
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Editor's Note: This week, we're bringing you the newsletter a little early in anticipation of the upcoming holiday. This Thanksgiving, we're grateful for all of you working to drive our region forward and advance inclusive economic growth for all.
In St. Louis, Agtech Grows — but Keep the Investment Coming
The agtech industry has long been a focus of, and a success story within, the St. Louis economy. The region’s strategic geographic location makes it an ideal place for growing agtech startups amid Fortune 500 companies, cutting-edge research facilities, and 1,000+ plant science PhDs.
In spite of long development timelines for early stage agtech startups, companies like Spearhead Bio, TerraBlaster, and CoverCress Inc. are thriving, thanks to the vision and support of investors. But more is needed.
The Bottom Line: Early-stage startups continue to need support from investors that understand the landscape, appreciate longer term timelines, and can provide patient capital. “The ag space is one that has a significant amount of opportunity that is underserved from a global investment perspective,” says Scott Porter, managing director at Cascadia Capital. And in St. Louis, capturing global support means not just growing the agtech sector, but growing the regional economy too.
If you’re a founder, there’s nowhere better to get your MBA than WashU’s Olin School of Business. Poets&Quants, an online publication focused on graduate business education, has ranked the program the best in the world for entrepreneurs this year. (Inc.)
$850M Acera Acquisition
A company spun out of WashU research will be acquired for up to $850 million. Acera Surgical, a bioscience company commercializing products for wound healing and regenerative medicine applications, will be sold to Minnesota-based Solventum Corp, the company announced this week. (St. Louis Business Journal)
What started in St. Louis in 1985 as a local project has grown into a national campaign. Scouting for Food, a program of Scouting America, will gather hundreds of thousands of pounds of non-perishable food items this year. In St. Louis alone, more than 68 million food items have been collected throughout the region since the program was founded 40 years ago.
The Bottom Line: Whether it’s an idea, an innovation, or an opportunity seized, what starts in St. Louis has the potential for growth. This Thanksgiving, as St. Louis Scouts help fill local food banks and support our neighbors, remember that even a small seed can make a big impact.
✨Celebrate the holiday season with festive events and performances (St. Louis Magazine)
Edward Jones' VC Focused on Benefiting Families
Over the next five years, the new venture capital arm of St. Louis-based Edward Jones will focus on investing in products, services, and innovations that will benefit 10 million families — including 1 million directly. Managing Partner Penny Pennington, a GSL Founding Board Member, calls the investments “innovation in action.” (St. Louis INNO)
High-Speed Internet Comes to Alton, IL
A $25 million citywide fiber internet network is now connecting Alton, Illinois. "We're not just installing cables,” said John Simmons, CEO of AltonWorks, the development company behind the project. “We're dismantling digital barriers, unlocking innovation, and ensuring that every child, every entrepreneur, and every resident has access to the same world-class opportunities as anyone, anywhere.” (St. Louis Public Radio)
This Week's Headlines
General Dynamics, Google Move AI Closer to Defense and Intel Agencies (The Defense Post)
Mark Munsell Named Distinguished Fellow of Artificial Intelligence (Lindenwood University)
Radiopharmaceutical firm Curium to expand St. Louis-area operations (St. Louis INNO)
Harbour Group Expands Specialty Chemicals Portfolio with Acquisition of Fusion Chemical (Pulse 2.0)
New Bond Center expands early childhood and family support services in St. Louis (St. Louis American)
STLMade’s Love Local campaign encourages all of us invest our dollars locally, because we know that nearly 70 cents of every dollar spent with our local small businesses stays in the community. When we support them, we help the whole region grow and thrive.
