Agriculture in Kentucky is more than just pulling a plow.

Technology on the farm means more food and more money.

Bluegrass Agtech is a partnership between Lexington, the U.K. School of Agriculture, the Kentucky Department of Agriculture and Alltech.

It's now offering grants to encourage companies to come to Kentucky and use technology to make Kentucky the Agtech capital of the US.

I am really excited about this day and it's been a long time coming.

One of our inspirations from many years ago was Dr. Pierce Lyons, who always believed we could be the Agtech capital of America.

And perhaps because I was raised in a farming community with farming family, I've always seen Lexington's farmland and Kentucky's farmland as a source of beauty, of course, but also a source of economic strength.

Our farms are businesses that together make an enormous contribution to our economy.

We can never forget the deep roots our economy has in agriculture.

We all have a lot of special things in our state when it comes to agriculture.

Whether it's iconic brands of Bourbon and Horses and Kentucky Fried Chicken, what today's announcement is about entrepreneurship that if you have a good idea, come to Kentucky.

We're going to give you a challenge, Grant.

We're going to give you mentorship, technical advice, legal advice, lab space and farm space to help make that idea into a viable commercial product.

Think of it like Shark Tank for agriculture.

We already have so many good things going for us, but there's no state in America that is claimed to be the birthplace of good agtech ideas.

And that's what Kentucky AG Tech Development Corporation strives to do to be that bridge between the entrepreneur, the ag world and the commercial setting.

In addition to the Challenge Grant program, now the Bluegrass AG Agtech Group will provide a holistic set of resources to assist entrepreneurs and startups in their growth and development.

That will include facilitating connections with mentors and successful business leaders, farmers, field research teams, ongoing incubator and accelerator programs, lab commercial retail spaces, other capital funding sources that we want to continue to develop now.

So we're quite excited about the Bluegrass AG Tech Development Corporation to be on its feet and running it because it's not just about capitalization funding, you know, it's also about the network of ag tech companies that we can come together finding mentors and finding people that already know how to do this.

It's vital for for all startups, especially if you're, you know, in a small environment and a niche environment.

I'm very excited about these opportunities and I really like the connection between the city, the state, the university and the private company.

So I think we can take advantage of all these different resource and everybody's bringing in something different.

And I think it's been great.

We hope the result of AG tech Development corner will yield new companies and agrifood and agribusinesses boost our state economy and unlock more affordable, nutritious and environmentally sustainable food for Kentuckians and beyond.

Applications for the Challenge grant are now being accepted.

The last day to apply is March 1st, 2024.