Alltech is searching for entrepreneurs to apply to 'The Pearse Lyons Accelerator' program, which aims to provide market and development opportunities to agricultural based businesses.

The global biotechnology business is seeking to attract inventors and entrepreneurs for the first year of the program, which is named after the founder of the company.

The program, which will run for five years, will include a three-month intensive boot camp for food and agribusiness innovators with a proven technology that is ready for market.

The program is designed to provide market opportunities for entrepreneurs to develop their fledgling agriculture, food and ag-tech plans, according to Alltech.

Select innovators will have the opportunity to present their innovations at ONE: The Alltech Ideas Conference in Lexington, Kentucky, USA, in May 2017.

The event will have close to 3,000 people in attendance from nearly 80 different countries, affording applicants the opportunity to present their ideas to future customers as well as investors and potential collaborators.

Applications to the program are now open and following a selection process, successful applicants will commence the program in January 2017, according to Alltech.

The company is investing up to $10m (€8.9m) in the accelerator program, with most of these funds due to support the participation of select innovators in the boot camp.

Successful applicants will be under the direction of Aidan Connolly, Chief Innovation Officer at Alltech, and other fellow industry mentors.

Connolly, who is an adjunct professor of marketing at University College Dublin and China Agricultural University, is passionate about the commercialisation of innovative ideas and technology.

Entrepreneurs have the potential to discover solutions today to meet the challenges of tomorrow.

“The Pearse Lyons Accelerator aims to discover the brightest ideas in agriculture, food and technology, and we want these future ag-tech entrepreneurs to be fully equipped to develop successful, sustainable businesses," Connolly said.

Meanwhile, Founder and President of Alltech, Dr. Pearse Lyons, is looking forward to supporting and empowering rising entrepreneurs.

“Thirty-six years ago, I founded Alltech in my home with just $10,000 in my pocket, and that investment has grown into an international business of over $2 billion.

“Alltech’s roots are in entrepreneurial innovation, and it’s an exciting time to be in agriculture. Some of the recent ag-tech applications on-farm today include automation, drones, soil sensors and big data," Lyons said.

The deadline for applications to the Pearse Lyons Accelerator program will close on November 11, 2016. All projects may be considered; however, those in the agriculture, food and the ag-tech industry will have preference.