The Wells Fargo Foundation, the philanthropic arm of Wells Fargo, announced Monday a major investment to support South Carolina's farming industry. The foundation is gifting $600,000 to the South Carolina Research Authority (SCRA) to fund the Cultivating Innovation in SC Agribusiness grant program.
SCRA will administer the grants in partnership with the South Carolina Small Business Development Centers and other key collaborators—empowering the state's farmers with essential funding for cutting-edge agricultural advancements.
“The program will provide intensive training, expert mentorship, and one-time innovation grants of up to $30,000 to competitively selected small agribusinesses,” said SCRA Senior Investment Manager Mitch Smith. “The funding enables participants to develop and implement novel products, services, processes, practices, or technology adoptions that create tangible value for their operations and the state’s agricultural economy.”
Eligible businesses must be for-profit businesses operating in the agricultural sector, headquartered in South Carolina for at least one tax year, and meet U.S. Small Business Administration size standards.
Additional information on the grant process and how to apply can be found here.