New Program Helps Ag Startups
14/6/2018
Up and coming startup companies in WA have a new opportunity. They just wrapped up the inaugural Harvest AgTech Accelerator program in Perth. The initial round of the program included 8 companies that presented their final business pitches to possible investors. Only three of the startups were awarded; these included Grubs Up, ScientificAerospace and MALDIID.
Up and coming startup companies in WA have a new opportunity. They just wrapped up the inaugural Harvest AgTech Accelerator program in Perth. The initial round of the program included 8 companies that presented their final business pitches to possible investors. Only three of the startups were awarded; these included Grubs Up, ScientificAerospace and MALDIID.
The nine-week program was run by Agristart and was created in an effort to help start-ups in the latter stage to prepare for investment and commercialization with the help of over 40 experts from the industry. Topics covered by the program include;
• Export pathways
• Strategic expansion planning
• Investor readiness
• New technology applications
• Media training
• Pitch coaching
• Media training
Tash Ayers the managing director and co-founder of Agristart notes that the program was a great success.
“We’ve been so excited by the eight companies that have been with the HARVEST program,” Ms Ayers said.
“Technology companies are doing amazing things, but they need to understand the farming processes and what farmers are looking for. It’s all about that gap, we need technology companies talking to farmers, which is so critical. The start-ups involved have gained so much from the program because they’ve given everything to it.”
The first AgTech Accelerator program had 42 applications and over 100 inquiries and they have decided to have another round. This second round sees applications opening in June 2018 with a potential kick off date between August and October later in the year. There are plans to run a regional version of the program as well as a Perth based program which they are all excited about.
They would like the program to evolve to feature more involvement by farmers and more regional tours. The previous program has shown the importance of tech companies connecting with farmers.
The start-ups that were awarded will continue to develop their businesses over the remainder of the year with all the help, knowledge and expertise they gained from their experience.
Coolup-based Grubs Up is an insect farm that won the Atomic Sky Regional Innovator prize. Their prize included 6 months access to workspace in Perth and mentoring for their business in an effort to lead to enterprise development. Grubs Up processes, manufactures and produces a number of high protein insect products to include;
• Cricket hazelnut dukkha
• Mealworms
• Whole roasted crickets
• Cricket powder
Apart from that they also have an animal feed product line which they are trying to commercialize.
Paula Pownall the founder of Grubs Up said that the whole experience of participating in the Harvest program was very rewarding. They are now able to focus on the key areas of their business which need to be improved. She notes that she is very grateful for the award which has opened up a lot for the company.
The Triangle Capital Export Market prize was awarded to ScientificAerospace. This prize allows the company to access free consultation and also to help develop export markets into China. ScientificAerospace is an aerial surveying company looking to expand its services into agriculture. They hope their technology will help with broadacre cropping systems and assist horticultural systems as well as provide farmers with the potential to identify frost damage.
MALDIID won the AGWorld Agribusiness Leadership prize. They are a bacterial identification service which can help farmers to improve their crop production. The companies testing services can identify bacteria and provide the customers need to make the right decisions about inoculation.
MALDIID notes that the program has helped the company to enhance its business skills and send them down the right pathway.
