[OKC] From Reuters: Vineyard breakthrough wins water startup prize

[Miles, Karen]

Vineyard breakthrough wins water startup prize


Mary Milliken
<http://blogs.reuters.com/search/journalist.php?edition=us&n=mary.millik
en&> 

LOS ANGELES

Mon Mar 8, 2010 11:09am EST

 

LOS ANGELES (Reuters) - A Web application that alerts wine grape farmers
when their vines are thirsty has won first place in a competition to
spur entrepreneurs in the investment-starved water sector, organizers
said on Monday.

Fruition Sciences, which operates in both California and France, came
first among 50 teams in Imagine H2O's global competition aimed at
building a "Silicon Valley" for water.

Water is a $500 billion business worldwide, but draws a mere 0.5 to 1.0
percent of venture capital and only a handful of investments per year
despite growing demand for solutions to widespread water shortages.

The prize rewards the business plans with the greatest promise of
breakthroughs in the efficient use and supply of water, and Fruition was
able to show significant water savings for nine California grape growers
that used the monitor.

Article continues at: 
http://www.reuters.com/article/idUSTRE6272DG20100308?feedType=nl&feedNam
e=usmorningdigest

 

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