SyMyCo Inc., a plant science startup that moved to St. Louis from India in 2011, has shipped out its first locally-made products, which reduce need for fertilizer and boost crop yield.
SyMyCo has five full-time employees and plans to hire five to six more researchers this year. The company, which benefitted from more than $1.2 million in tax credits and incentives in 2011, operates at the Bio-Research & Development Growth (BRDG) Park at the Danforth Plant Science Center.
The recently shipped product, derived from Mycorrhizal fungi, helps plants utilize nutrients that are available and decrease reliance on fertilizer to increase agricultural stability and productivity.
The company brought in $1 million in revenue in 2012 and projects $2 million in revenue this year, thanks to the new products.