Sustainable Biz - Magazine - Page 9
Financial challenges, unclear returns
on investment, and a lack of long-term
government support are slowing the
adoption of transformative agricultural
technologies, putting the UK at risk of
falling behind other countries.
key financial barriers, followed by a lack
of knowledge on how best to use the
technologies (24%).
Against a challenging political backdrop,
farmers felt there was more that the
government could do to support them,
from providing clarity around long-term
policy (71%), providing more support and
guidance on sustainable farming practices
(48%), to providing overall support for and
promotion of UK farms (48%).
The report also highlights the risk the
UK could face in falling behind other
geographies if it can’t get the supporting
supply chain and ecosystem aligned. One
company executive quoted in the report
called out the difference between the UK
and Europe, “What I’m seeing in continental
Europe is a real joined up approach from
farmer to manufacturer, universities are
involved, etc. I don’t see that in the UK – in
fact, I’ve seen the reverse.”
Barclays is calling on government to
address these barriers and spearhead the
development and adoption of this critical
industry, through three key actions:
1. Develop and communicate a clear
national strategy for the agriculture
transition, clearly setting out the role
Agritech can play
2. Provide broad financial support for
both Agritech development and adoption,
including guarantees and deploying targeted
support via the National Wealth Fund and
British Business Bank
3. Create a catalytic ecosystem-wide
hub through the combined UK Agritech
centres[2], bringing together actors
from across the sector to enable better
collaboration, as well as develop a dedicated
skills programme to support the domestic
talent pipeline
Barclays, in parallel, is renewing its Eagle
Lab partnership with the University of
Lincoln. Launched in 2020, the partnership
is focused on supporting agricultural startups and entrepreneurs, providing access to
facilities including a dedicated robotics lab,
as well as to experts across the industry.
Abdul Qureshi, Managing Director,
Business Banking, Barclays, said: “Agritech
will transform the UK’s farming landscape.
From drones, AI to robotics, Agritech is
supercharging an industry that feeds us
all. At a time when farming is being asked
to do more with less, we recognise it will
take a collective effort to create the right
enabling environment, but if we get this
right, Agritech can help our farmers, and
play a meaningful role in both protecting
and driving forward one of Britain’s most
vital sectors. As the government develops
its 25-year agriculture roadmap and national
food plan, there is no better time.”
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