Intuitive Launches $100 Million Venture Capital Fund

SUNNYVALE, Calif., Oct. 27, 2020 (GLOBE NEWSWIRE) — Intuitive (Nasdaq: ISRG), a global technology leader in minimally invasive care and the pioneer of robotic–assisted surgery, today announced the launch of Intuitive Ventures. The inaugural $100 million fund will invest in the future leaders of minimally invasive care.

Intuitive Ventures is focused on investment opportunities in digital tools, precision diagnostics, focal therapeutics and platform technologies that share Intuitive's commitment to advancing positive outcomes in healthcare. The fund will support independent initiatives in the direct and adjacent fields of minimally invasive care and marks the entrance into the venture capital space for parent company Intuitive.

"The future of minimally invasive care spans the patient journey from early diagnosis to treatment and beyond," said Julian Nikolchev, President of Intuitive Ventures. "Intuitive Ventures is investing in cutting–edge innovation across the continuum of care to bring the future forward."

Nikolchev brings a deep entrepreneurial and operational background with more than 30 years of experience in the development and commercialization of therapeutic medical devices, including leading early stage teams and technologies through growth and market transformation. He joined Intuitive Surgical in 2019 and will continue to serve as its Senior Vice President of Corporate Development and Strategy.

Nikolchev is joined by Intuitive Ventures Director Dr. Oliver Keown MD, who joined Intuitive in 2019 to co–found the fund. Keown was previously an investor at GE Ventures where he drove international deal–flow and supported digital and MedTech portfolio companies operationally and at the board level. He also advised U.K., U.S. and global healthcare innovation projects across commercial, government, and academic fields.

"We are value–add investors who leverage access to Intuitive's unique industry expertise and customer connections," Keown said. "Our nimble structure and alignment with the startups we will back empower us to invest early and support our portfolio companies as they pioneer markets.''

About Intuitive Ventures

Leveraging Intuitive's entrepreneurial spirit and expansive technological and clinical reach, Intuitive Ventures invests in transformative opportunities advancing positive outcomes in healthcare. The fund is focused on U.S. and international early stage start–ups and takes a long–term outlook to support portfolio companies reach their major milestones. Through its inaugural $100 million fund and with leadership combining decades of investing and operational experience, the team cultivates strategic resources to drive financial returns and accelerate the future of minimally invasive care. Intuitive Ventures has already started deploying capital and is actively building its portfolio. More information and future updates can be found at: ventures.intuitive.com

About Intuitive

Intuitive (Nasdaq: ISRG), headquartered in Sunnyvale, Calif., is a global technology leader in minimally invasive care and the pioneer of robotic–assisted surgery. As part of our mission, we believe that minimally invasive care is life–enhancing care. Through ingenuity and intelligent technology, we expand the potential of physicians to heal without constraints.

Intuitive brings more than two decades of leadership in robotic–assisted surgical technology and solutions to its offerings, and develops, manufactures and markets the da Vinci surgical system and the Ion endoluminal system.

For more information, please visit the company's website at www.intuitive.com.

Forward–Looking Statements

This press release contains forward–looking statements about Intuitive Ventures and its plans to invest in early–stage companies, including their potential benefits, that involves substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Risks and uncertainties include, among other things, the uncertainties inherent in research and development; uncertainties regarding the ability of Intuitive Ventures to identify investment candidates; uncertainties regarding the success of Intuitive Ventures' investments; uncertainties and variables inherent in the operating and financial performance in investments made, including, among other things, competitive developments and general economic, political, business, industry, regulatory and market conditions; future exchange and interest rates; and changes in tax and other laws, regulations, rates and policies. The Company undertakes no obligation to publicly update or release any revisions to these forward–looking statements, except as required by law.

Contact
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Intuitive Surgical
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Source: Intuitive Surgical, Inc.

Using Traditional and Indigenous Food Resources to Combat Years of Successive Drought

Zimbabwean farmer Sinikiwe Sibanda is one of an increasing number of farmers from semi-arid areas with little rain who are shifting from growing white maize to hardy sorghum and millet for food and nutrition security. Credit: Busani Bafana/IPS

Zimbabwean farmer Sinikiwe Sibanda is one of an increasing number of farmers from semi-arid areas with little rain who are shifting from growing white maize to hardy sorghum and millet for food and nutrition security. Credit: Busani Bafana/IPS

By Busani Bafana
BULAWAYO, Zimbabwe, Oct 27 2020 (IPS)

For Zimbabwean farmer Sinikiwe Sibanda, planting more sorghum and millet than maize has paid off.

As the coronavirus pandemic has led to decreased incomes and increased food prices across the southern African nation — it is estimated that more than 8 million Zimbabweans will need food aid until the next harvest season in March — Sibanda’s utilisation of traditional and indigenous food resources could provide a solution to food security here.

Sibanda, a farmer in Nyamandlovu, 42 km north-west of Bulawayo, harvested two tonnes of millet this year, compared to less than 700 kg of maize. Some farmers did not harvest maize at all but those who planted sorghum and millet have enough food to last the next harvest season. And Sibanda is pleased to have the harvest despite the poor rainfall in the 2018/9 farming season.

She is one of an increasing number of farmers from semi-arid areas with little rain who are shifting from growing white maize to hardy, traditional sorghum and millet for food and nutrition security.

“I love maize but the frequent drought is making it difficult to grow it regularly,” Sibanda, told IPS during a visit to her 42-hectare farm in the semi-arid Matabeleland North Province of Zimbabwe. Sibanda says she now plants just 5 hectares of her farm. She used to plant 10 hectares but the high costs of seed, labour and uncertain rainfall each year has forced her to scale down.

“I learnt my lesson last season and planted one hectare under pearl millet, another under sorghum and a bigger portion under maize but millet produced the best yield,” Sibanda, who has grown pearl millet and sorghum since 2015, said.

“Drought every year has reduced maize yields and many times I harvest nothing if I do not replant mid-way through the season,” she says. “Maize needs more rain and easily wilts when we have poor rains as we did this year but I am able to harvest something with small grains.”

Even livestock farmers are turning to sorghum. Livestock breeder Obert Chinhamo is intercropping sorghum and maize under rain-fed production at his Biano Farm, 30km south of Bulawayo. He processes the sorghum and maize into silage for feeding his 300 pedigree Simmental cattle during the dry season when pastures become scarce and poor in nutrients. Chinhamo is teaching farmers to make their own feed using rain-fed sorghum.

The shift it eating millet foods has not been an easy one for Sibanda’s family. Zimbabwe is a maize-loving nation where maize flour is eaten at least thrice a day when it is available.

Though Sibanda said she enjoys millet flour, with which she makes tasty porridge and isitshwala (a carbohydrate staple food made from millet meal) even though her urbanised children do not enjoy.

“It thickens quicker than maize flour, it tastes good and is healthy too,” chuckled Sibanda.

Small grains, big on nutrition

According to Famine Early Warning Systems Network (FEWS), “the deteriorating economy and consecutive droughts were already driving high food assistance needs; the COVID-19 pandemic and measures implemented to prevent the virus’ spread are further exacerbating an already deteriorating food security situation. Humanitarian assistance needs during the January to March 2021 peak of the lean season are expected to be above normal, with widespread areas in crisis.”

Food insecure households here require assistance to facilitate adequate dietary intake and prevent deterioration of the nutrition status of children, women and other vulnerable groups like the disabled, says United Nations Office of the Coordination of Humanitarian Affairs (UNOCHA) in Zimbabwe.

According to the February 2020 Zimbabwe Vulnerability Assessment Committee rapid assessment, global acute malnutrition prevalence increased from the 3.6 percent to 3.7 percent at national level. The drought-prone provinces of Masvingo and Matabeleland North and South were most affected.

Figures by the U.N. Children’s Fund (UNICEF) showed that “nearly 1 in 3 children under five are suffering from malnutrition, while 93 percent of children between 6 months and 2 years of age are not consuming the minimum acceptable diet”.  

Zimbabwe remains one of only 11 countries that have not implemented healthy eating guidelines at a national level, according to the Food Sustainability Index (FSI), created by Barilla Centre for Food and Nutrition (BCFN) and the Economist Intelligence Unit. 

Food for the future

The increased production of sorghum and millets could aid food security and nutrition.

Small grains are the food for the future, says Hapson Mushoriwa, Lead Breeder for Eastern and Southern Africa at the International Crops Research Institute for Semi-Arid Tropics (ICRISAT).

They are sustainable, nutritious and have a low carbon footprint, relative to maize, arising from carbon dioxide, methane and nitrous oxide emitted to the atmosphere during production, according to Mushoriwa.

ICRISAT is developing adapted varieties of six key cereals and legumes, including sorghum, pearl millet, groundnuts, and pigeon pea, among others.

Mushoriwa said these crops are bred to combine high productivity, resilience, acceptable quality attributes and market preferences.

“When you look at these six mandate crops, we label them as ‘Smart Food’ because they are good for you and highly nutritious, good for the planet (they have a low water footprint and lower the carbon footprint), good for the soils and use few chemicals,” Mushoriwa told IPS.

“These crops are good for the small-holder farmer because they survive in the hardest climates, have multiple uses, potential to significantly increase yield and untapped demand.”

A cornerstone of  agriculture biodiversity

Small grains are an integral part of agriculture biodiversity which the Food and Agriculture Organisation of the U.N. says supports the capacity of farmers, to produce food and a range of other goods and services under different environments by increasing resilience to shocks and stresses.

The erosion of agro-biodiversity, combined with an emphasis on input-intensive cropping systems has, arguably, lowered the resilience of food systems in the global South, says Katarzyna Dembska, a researcher at the BCFN Foundation, an independent and multi-disciplinary think tank that analyses the economic, scientific, social and environmental factors about food.

Dembska said the utilisation of traditional and indigenous food resources in Africa namely; barley, millet, sorghum, millet cowpea and leafy vegetables should be emphasised for achieving food security and nutrition.

“The under-utilised food resources have a much higher nutrient, and in times of high climate uncertainty, the diversification of staple crops can guarantee food system resilience,” Dembska told IPS.

  • On Dec. 1 BCFN, in collaboration with Food Tank, a leading United States think tank for food, will host an online international forum on food systems titled “Resetting The Food System From Farm To Fork“. Among other things, the online summit will focus on the critical role farmers play in feeding the world.

Despite their proven nutritional value exceeding that of maize, their popularity as a cash crop cannot rival maize production even during a drought.

With annual rainfall of between 200 and 600 mm in Matabeleland region, rain-fed agriculture continuously fails. FEWS states that maize production has been poor, “estimated at nearly 40 percent below average in 2019 and 30 percent below average in 2020”.

The 2020 national maize production is estimated at over 900,000 metric tonnes. However, government statistics show that Zimbabwe’s sorghum and millet production remains well behind that of maize at 103,700 tonnes and 49,000 tonnes respectively in the 2018/2019 season.

Resolving policy disparities in terms of producer prices for small grains as well as incentives to support availability of inputs, viable output markets and value addition could boost production and adoption of small grains, said Martin Moyo, ICRISAT Zimbabwe country representative.

 


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