Microsoft, together with Monsanto Co., a US company specializing in biotechnology has expressed intentions to invest in launches and start-ups for agricultural technology in Brazil.
Aside from Monsanto Co., Qualcomm is also contributing to the fund.
The greater contribution will be from Monsanto, which will invest up to $92 million for the venture, with the other aspects of the project to be taken care of by Microsoft, such as testing the feasibility and effectiveness of innovations for digital tools to be used for boosting production of agricultural products in the country.
The innovative ideas shall be backed up with funds of $459,000 for initial development, and project proprietors can either pay back the initial investment after three years, or have the cash converted into capital and other goods.
According to the head of Monsanto for Latin America, Rodrigo Santos, there is a wide area for development and research, and that they wish to take care of the new start-ups in the agricultural sector.
This project is expected to boost the Agricultural production in the said country.