Watch our Information Webinar on replay to find out more about investing in innovative AgriTech companies alongside grant funding.

1. www.ktn-uk.org
19 October 2021 | 9:30am – 11:30am BST
Transforming Food Production:
Series A Investor Partnership
Call for Investors - Briefing Event
Simon Baty
KTM AgriFood, KTN
simon.baty@ktn-uk.org

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Protocol for today’s event

3. Transforming Food Production: Series A Investor Partnership
Call for Investors - Briefing Event
09:30 – 09:35 Welcome & Introduction – Simon Baty, KTN
09:35 – 09:40 Introduction to Transforming Food Production – Tom Jenkins,
Transforming Food Production Deputy Director, Innovate UK/UKRI
09:40 – 10:10 Competition Overview & Scope – Chris Danks, Transforming Food
Production Innovate Lead, Innovate UK/UKRI
10:10 – 10:30 Investor Perspectives
Meet the Investors – Simon Baty, KTN
Hugo Melvin, 24Haymarket
Jim Dobson, Cottagequinn Enterprises
10:30 – 10:50 Application Process – Lydia Weir-Blankenstein, Portfolio Manager,
Innovate UK/UKRI
10:50 – 11:25 Q&A
11:25 – 11:30 Close
Agenda

4. KTN exists to connect
innovators with new partners
and new opportunities
beyond their existing thinking –
accelerating ambitious ideas
into real-world solutions.

5. How the KTN AgriFood Team can help
Make powerful
connections
Review
applications
Get expert insight
Applicants must:
• Contact KTN to arrange a time for review
• Share the application at least 10 days before the deadline

6. https://ktn-uk.org/news/meet-the-investors-
ready-to-invest-in-agritech-smes-working-
towards-net-zero-emissions-in-2021/
Meet the Investors
Dismatrix
Group
Cottagequinn
Enterprises

7. ©KTN All rights reserved | www.ktn-uk.org
Simon Baty - KTM AgriFood, KTN
simon.baty@ktn-uk.org
Kaeli Johnson - KTM AgriFood, KTN
kaeli.johnson@ktn-uk.org
Competition Deadline: 10th November 2021

8. Transforming Food Production: SeriesAInvestor
Partnership
Applicant briefing
19th October 2021
• The webinar will start at 10am
• We are currently on mute, whilst waiting for more people to join
• We will conduct a sound check before the briefing starts
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• The briefing will be recorded and available for you

9. 1 Welcome and introductions
TomJenkins–DeptDirector,TransformingFoodProduction
ChrisDanks–InnovationLead,TransformingFoodProduction
LydiaBlankenstein–PortfolioManager,Competitions
2 Part 1
Scope, eligibility criteria
3 Part 2
The Innovation Funding Service, application finances, academic partners
4 Part 3
Submitting your application, assessment, project setup for successful applicants
Agenda

10. Transforming Food Production:
Series A Investor Partnership
Catalysing the transition to net-zero food production systems by 2040
Briefing Event 19th October 2021

11. Transforming Food Production
• Accelerating development and adoption
of integrated precision approaches, to
improve productivity in agricultural
systems
• Enabling food to be produced in more
efficient, resilient and sustainable ways
• Driving economic growth across the UK
Towards net zero emissions productive food systems by 2040

12. Transforming Food Production Delivery
Future Food Production Systems
Creating disruptive solutions and high value
production systems
Science and Technology into Practice
Strengthening connections between research and
practice and enabling adoption and demonstration
International
Building
opportunity in
partnership and
driving export
growth
Investor Partnership
Building a vibrant investment ecosystem
around the agri-tech sector in the UK
£50m
£25m
£5m
£10m

13. • Establishes >£30m Agri-tech ‘net-zero’ fund
• Expect to create 10+ Series A deals, accelerating
growth and scale-up of UK SME
• Investment focuses on global opportunities with
international investors able to lead investment rounds
• Potential to build investment syndicates
• TFP acting as a minority Impact Investor (net-zero)
• Late stage funding model
Series A Investor
Partnership Programme
Round 1 & 2
Catalysing company growth and scale-up…

14. Thank you
LinkedIn: UK Research and
Innovation
Twitter:@UKRI_News YouTube: UK Research and
Innovation
Dr Tom Jenkins
Deputy Challenge Director – Transforming Food Production
E: tom.jenkins@innovateuk.ukri.org
T: +44 (0)7825 028332

15. Transforming Food Production:
Series A Investor Partnership
Investor Briefing Event 19th October 2021
Chris Danks
Transforming Food Production - Innovation Lead

16. Agenda
• Concept
• Targeting lead investors
• Aligned funding model
• Timeline
• Items covered later in the seminar;
• Experience from Round 1 Lead Investor
• Application process
• Assessment and selection
• Onboarding process

17. Series A Investor Partnership Concept
• UKRI fund projects and Investors fund companies
• An Investor Partnership deploys grant funding alongside
equity funding from private investors.
• Not just grant support but enable high growth companies
get direct access to commercial acumen and market
opportunities through their relationship with an investor
and ‘smart money’ company investment
• Aim to encourage incumbent sector investors to invest
and to create opportunity for new investors to enter the
sector
• Encourage new (platform, social impact, overseas) and
existing investors to invest earlier and wider.

18. Simultaneous and aligned grant and venture capital
• TFP to uniquely focus on increasing investment
into late stage (TRL 6-8) companies:
• Pre-revenue R&D SMEs aiming to grow
and scale
• First significant funding round
• Series A/Late Seed top up rounds
• Joint Venture entities
• Established spin outs
• New or existing Investor/SME relations
UKRI
Investor
Below
Cut-off
Above
Cut-off
Investment Attractive
Not Investable
Potential to be supported by aligned grant and investment
Potential to secure direct investment with no UKRI grant
Directed to further business support and bootcamp
Feedback provided for guidance

19. Investor Pool & Syndicates
Lead
Lead
Lead
UK
SME
TFP Grant
Co-
Investor
Co-
Investor
Lead
Lead
Lead
Lead
Lead
Lead
Lead

20. Scope / Investment Thesis
• £5m Funding through Industrial Strategy Challenge Fund – Transforming Food Production
• Align with programme aims and objectives:
Towards net zero emissions productive food systems by 2040:
1. Create integrated data-driven solutions to drive primary agricultural productivity whilst
driving towards net zero emissions
2. Embed adoption of precision approaches to bridge the productivity gap, strengthening
connections between researchers, businesses and practitioners
3. Stimulate the establishment of novel high value production systems to position UK
technologies at the forefront of new industries.
4. Drive growth in UK precision technology companies, creating high value jobs and adding
value in the UK agricultural value chain.
5. Develop export opportunities and increase investment into UK research and innovation.

21. Lead Investor Pool from Round 1
Dismatrix
Group
Cottagequinn
Enterprises
Lean more about the pool at: https://ktn-uk.org/news/meet-the-investors-ready-to-invest-in-agritech-smes-working-towards-net-zero-emissions-in-2021

22. What are we looking for?
We are particularly interested in investors who have relevant sector or technology-specific
expertise or social impact priorities around resilient and environmentally sustainable food
production and;
• are willing to act as sole investor in Series A investments or be the lead investor where
additional co-investment is required (co-investors can be from within or from outside of the
pool being formed)
• are prepared to deploy Series A financing with a patient and long-term view
• can follow their investment and potentially provide more financing when required
• can commit to helping the SMEs with international aspirations to grow and scale up

23. How do we select pool members?
• Application to be submitted by 10 November 11:00 (UK)
• Assessment and review by three external assessors for guidance
• Internal financial due diligence
• Review and ratification by an independent selection panel
• Investors selected who have demonstrated the following;
• credibility, capability and capacity required for a Series A lead Investor
• alignment with aspects of the TFP aims
• enhance current pool
• confirm agreement and subsequent signing of MOU by January 18 2022
• Applications which are deemed to have failed to satisfy these requirements will still have
the potential to syndicate with the lead investors selected.

24. Round 2 Timeline

25. Series A Investor Partnership Overview
• Aim to support 4-6 pre/early-revenue companies
• Experimental development (TRL 6-8): Project size
between £1m and £3m total eligible cost
• UKRI fund upto 45% of project cost
• Only projects deemed acceptable by UKRI assessment
can be potentially supported
• Investment is aligned to cover the required UKRI
committed costs plus additional company investment
• Ratio minimum 2:1 Investment : Grant
• Ratios higher than the required 2:1 will be assessed
more favourably during final selection criteria
• Overall funding £1.35 m to >£5 million, with no cap
UKRI
Grant
Investor
Investment

26. Example of ‘bottom up’ proposal
• Potential to build a Series A investment requirement from the basis of a late stage R&D
project perspective
• The private investment requirement will need to be well justified and additional to the
project requirements, and not just match funding
Total Project Cost UKRI Grant
Investor Series A
Investment*
Overall Funding
£1,000,000 £450,000 > £900,000 > £1,350,000
£1,500,000 £675,000 > £1,350,000 > £2,025,000
£2,000,000 £900,000 > £1,800,000 > £2,700,000
£2,500,000 £1,125,000 > £2,250,000 > £3,375,000
£3,000,000 £1,350,000 > £2,700,000 > £4,050,000
* Minimum Investment is 2 x UKRI Grant, no maximum ceiling

27. Example of ‘top down’ proposal
• More traditional approach to justify overall Series A investment requirement
• A UK company, having previously secured IUK and seed investment were seeking a £3m
Series A investment.
• Their ‘ask’ comprised of IP demonstration, experimental development R&D and trials
(£1.7m) which could be identified as total project costs. Alongside this they have
requirements for manufacture and capital (£900k) and a need to build their management
team and sales and marketing groups (£400k).
• This would favourably exceed the minimum investment ratio at a 2.92 : 1 ratio
Total Project Cost UKRI Grant
Investor Series A
Investment*
Overall Funding
£1,700,000 £765,000 £2,235,000 £3,000,000
* Minimum Investment is >2 x UKRI Grant, no maximum ceiling

28. Summary
• Call for new Investors now open 18 October
• Application must be submitted by 10 November 11:00 (UK)
• Notification to be invited to pool on 16 December request to return MOU by 18 January
• Public profile uploaded on to Investor page alongside Round 1 leads 17 December
• SME applicants above threshold; ‘one-page investment profile’ shared 17 December
• Round 2 Showcase Event 19 January 2022 Prince Philip House London
• February – March regular updates to TFP and support for Deal Eligibility panel
• Deadline for Head of Terms 29 March 2022
• Notification of successful applicants 19 April 2022
Dismatrix
Group
Cottagequinn
Enterprises

29. What could success look like ?
-
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
Project cost Series A
£'
1000's
TFP Grant
Lead Investor
Aim to double the lead pool to
increase opportunity to match
success of Round 1;
• 7 Applications supported for a
total grant requirement of
£5,598,419
• 7/11 Lead Investors
• Grant £5.6m : £16.5m Investment
• Lead investors committed £4.3m
• Total Impact £22.1m
• £4.7m Initial ‘Smart money’

30. Links for Investors
• Link to Investor Phase Competition:
https://apply-for-innovation-funding.service.gov.uk/competition/1039/overview
• Link to Investor Phase Briefing:
https://ktn-uk.org/events/transforming-food-production-series-a-investor-partnership-call-
for-investors/
• Blog
TFP Investor Partnership Blog

31. Links for SMEs
• Link to SME Phase Competition:
https://apply-for-innovation-funding.service.gov.uk/competition/1025/overview#summary
• Link to SME Phase Briefing:
https://ktn-uk.org/events/smes-transforming-food-production-series-a-investor-partnership-smes-
competition/
• Link to list of investors:
https://ktn-uk.org/news/meet-the-investors-ready-to-invest-in-agritech-smes-working-towards-net-
zero-emissions-in-2021
• Link to access Google Classrooms Investor Readiness archive:
https://info.ktn-uk.org/p/2VFU-9RQ/access-to-our-resource-bank
• Blog
TFP Investor Partnership Blog

32. Thank you
LinkedIn: UK Research and
Innovation
Twitter:@UKRI_News YouTube: UK Research and
Innovation
Chris Danks chris.danks@innovateuk.ukri.org
+44 (0)7583 022666
Transforming Food Production - Innovation Lead

33. Eligibility criteria

34. Previously submitted application Not a previously submitted application
A previously submitted application is:
an application Innovate UK judges as not
materially different from one you've submitted
before (but it can be updated based on the
assessors' feedback)
A brand-new application/project/idea that you have not
previously submitted into an Innovate UK competition
OR
A previously submitted or ineligible application which:
ü has been updated based on assessor feedback
ü and is materially different from the application
submitted before
ü and fits with the scope of this competition
Previously submitted applications
This competition does not allow you to submit a previously submitted application.

35. Project eligibility
Investors must be:
ü an equity provider with the potential to act as lead investor in Series A
investments
ü a charity or trust
ü demonstrate an interest in transforming food production
ü commit to exploring aligning investment in the portfolio of UK registered
SMEs identified by Innovate UK
ü able to offer other commercial acumen to SMEs
Investment amount £1 million to £5 million
Eligibility criteria

36. Timeline Dates
Competition Opens 18th October 2021
Briefing Event 19th October 2021
Submission Deadline 11am 10th November 2021
Notifications 16th December 2021
MoU Deadline 18th January 2022
Investor showcase event 19th January 2022
Key Dates

37. Innovation Funding Service
(IFS)

38. Search for the competition and review criteria

39. Create an account
You must create an account:
UK registered businesses - use Companies House
lookup as it speeds up our checks by providing your
company number. You are unable to enter this at a
later date

40. Project Details
Application Team – you can invite colleagues from your own organisation to help you complete
your application
Equality, Diversity and Inclusion - external survey to complete
Investor Summary - Short summary of your organisation
Public Description - Description of your project which will be published if you are successful

41. Application Questions
Detailed guidance
available on IFS
Question Appendix?
Question 1 Your financial standing (not scored) Yes - mandatory
Question 2 Memorandum of Understanding (not scored) Yes – mandatory (template document)
Question 3 Your credibility as an investor (scored out of 25) Yes - optional
Question 4 Your capacity for investment (scored out of 25) Yes - optional
Question 5 Your capability as an investor partner (scored out of 25) Yes - optional
Question 6
Your alignment to the Transforming Food Production Investor Partnerships Programme
(scored out of 25)
Yes - optional

42. There are no application
finances

43. Submitting your application

44. Editing a submitted application
Reopen by
clicking here
Remember to
press SUBMIT

45. Submit your application early!
Be aware of the
potential for last
minute technical
issues!

46. Assessment

47. Assessment
• Applications will be assessed by independent assessors
• Due diligence will be conducted by the Innovate UK investments team
• Applications will then be considered by Innovate UK’s Transforming Food Production Investor
Selector panel
• Successful applicants will have until 18th January 2022 to sign the Memorandum of
Understanding if they have not already signed it at application stage

48. Scores and feedback

49. Q&A

50. Customer Support Services:
0300 321 4357 (Monday - Friday 9:00am - 11:30am & 2:00pm - 4:30pm)
support@innovateuk.ukri.org
Knowledge Transfer Network:
www.ktn-uk.co.uk
Innovate UK:
https://www.gov.uk/government/organisations/innovate-uk
Contact

51. @InnovateUK Innovate UK
Innovate UK