Farmers Mutual Hail Insurance Company of Iowa (FMH) announced today its investment in the new, local Ag Tech Accelerator to support the growth of new technology for producers and the ag industry.
The Accelerator is designed to build upon one of the state’s key industries of agriculture and the entrepreneurial activity that can advance technology in the industry.
The Accelerator is being formed by The Greater Des Moines Partnership and the Cultivation Corridor and FMH joins DuPont Pioneer, John Deere, and Peoples Company as one of the first companies to invest in the Accelerator. By investing in the Ag Tech Accelerator, FMH provides the opportunity for new technology to grow and advance the agriculture industry, ultimately benefitting farmers and their communities.
“As a company that began in Iowa over 123 years ago and is committed to remaining headquartered here, we feel that investing in startups and promoting agricultural innovation puts Iowa in the national spotlight and benefits a broad range of ag-related businesses throughout the state and region,” said Ron Rutledge, President and CEO at Farmers Mutual Hail Insurance Company. “We have long supported innovation in the industry and we are proud to be one of the founding members of the Ag Tech Accelerator.”
FMH is also an investor in the Des Moines-based Global Insurance Accelerator, which is a mentor-driven business accelerator designed to foster innovation in the insurance industry by supporting startups targeting the global insurance industry.