THRIVE doubles down on Asia Pacific agrifood tech investment, debuts new accelerator program
Ten Australian growth stage agrifood tech companies have been selected by SVG Ventures|THRIVE to participate in their new Asia-Pacific (APAC) Accelerator program, based out of Melbourne, Victoria.
As a part of SVG Ventures|THRIVE’s commitment to supporting the agrifood tech ecosystem in Australia, the Silicon Valley investment platform founded its APAC Accelerator program in 2022.
After establishing their APAC headquarters in Melbourne last year, bringing the program down under is an obvious next step for THRIVE, which supports over 8,000 startups from over 100 countries.
Its major program – the THRIVE Global Impact Challenge – has been a huge drawcard for startups looking to make a name for themselves in the global agrifood tech ecosystem.
John Hartnett, Founder and CEO of SVG Ventures|THRIVE, said he was thrilled to be launching the program in Melbourne.
“Australia provides a maturing research and development ecosystem to support agrifood tech commercialisation, and the US presents a lucrative market expansion opportunity for Australian agrifood tech companies,” Mr Hartnett explained.
Michael Macolino, Managing Director for SVG Ventures|Thrive APAC, said that the program received close to 100 applications and held its THRIVE Pitch Day in December 2022, with 20 companies selected to pitch for inclusion in the program.
“These companies will join THRIVE in Silicon Valley in March 2023 for an exciting launch week including business and investor roundtables, networking events, workshops, mentorship sessions, and more,” Mr Macolino said.
Companies presented a wide range of innovations — including sensors, software, robotics, agricultural implements, and cultivated protein — to judges from across the agrifood tech ecosystem, including AgriFutures Australia, Dairy Australia, Elders, Meat & Livestock Australia, and Agriculture Victoria. The breadth and depth reflected the opportunities and diversity in agrifood tech industry in Australia.
evokeAG. 2023 Startup Alley participants LYRO Robotics, The Gaia Project, Pairtree Technologies and PostHarvest were among the 10 companies selected as part of the inaugural cohort.
- Pairtree Intelligence
- Magic Valley
- MEQ Probe
- LYRO Robotics
- Xsights Digital
- The Gaia Project
- Aussie Wine Group
The program will continue to leverage the global reach of THRIVE, strengthening the agritech connection between Australia and the US., and represents an important step forward for the future of the agrifood tech ecosystem in Australia.
The long-term focus of the Accelerator Program is to continue supporting global growth and investing in growth stage agritech companies from across APAC.
THRIVE is positioned to invest in companies who are growing out of the MVP stage and scaling up their operations, teams and product offering, Mr Hartnett explained, saying “the program will help these companies develop and execute plans for international market expansion.”
The program aims to add a complimentary layer to the range of support already offered across the agrifood tech ecosystem in Australia, by supporting companies who are commercial ready and looking to scale up and enter international markets over the next 18 months.
THRIVE is a leading global agrifood investment and innovation platform, comprised of agriculture, food & technology corporations, as well as universities and investors – they were named as the number one AgTech Accelerator by AgFunder, and SVG Ventures has been recognised by Crunchbase as the Most Active AgTech Investor.
For more information about the THRIVE APAC Accelerator program, and to see the full inaugural list of cohort companies visit thriveagrifood.com/australian-accelerator.
The THRIVE APAC Accelerator program is supported by the Victorian Government through Invest Victoria, Agriculture Victoria and LaunchVic.