AgTech Accelerator Completes Initial Closing

Kelly MarshallAgribusiness, Company Announcement, technology

agtech-accelerator-logoAgTech Accelerator is a startup accelerator vehicle dedicated to brining about new agricultural technologies.  The program recently launched with $11.5 million in initial commitments from investors like Bayer, Syngenta Ventures, Alexandria Venture Investments, ARCH Venture Partners, Flagship Ventures, Harris & Harris Group, Inc., Hatteras Venture Partners, Mountain Group Capital and Pappas Capital.  Their goal is to create the next generation of companies embracing collaboration and external innovation in agribusiness.

Leveraging the core operating principles and 13-year track record of its strategic partner, Accelerator Corporation, AgTech Accelerator is well positioned to identify, form, finance and manage the most promising emerging agriculture companies to build great products and deliver strong returns. Led by a single, highly engaged, shared management team, new companies will gain access to a proven operating model, remarkable industry advisors, institutional partners and well-resourced facilities, as well as committed and sophisticated capital. AgTech Accelerator’s efficient platform removes common business development hurdles faced by science-based startups to allow founding technical experts to focus solely on achieving critical discovery and development milestones.

“Businesses that serve the agriculture industry must convert increasingly complex and integrated early-stage technology into differentiated solutions and products. It is really difficult for global agribusinesses to do it all in-house and R&D timelines are compressing. This necessitates new, external innovation and collaboration models,” said John W. Dombrosky, CEO of AgTech Accelerator. “Our unique model fosters a ‘new entrepreneurialism in agriculture,’ enabling new startups to fill a wide variety of important AgTech innovation gaps.”

AgTech Accelerator will be partnering with leading academic researcher from universities like Duke University, North Carolina State University, Penn State University, Purdue University, University of California, Davis, University of North Carolina at Chapel Hill and Washington State University.  Taking advantage of these resources in science, engineering, life science and agricultural science innovations, the companies sponsored by AgTech Accelerator will have access to novel technology, research, incubation and product development.

In addition, AgTech Accelerator also offers a leadership team, board of directors and advisory board composed of people with deep expereince in the agriculture, entrepreneurial, and technical industries.

Check out their website to learn more about AgTech Accelerator.