What types of businesses are best suited for THRIVE?
The THRIVE Accelerator is looking for technology-powered startups from around the world with innovative ideas for products and services in the areas of AgTech and FoodTech. We are looking for solutions that will significantly increase or transform agriculture from the field to the fork. We are not looking for companies that enhance the restaurant experience.
How will the final companies be chosen? What are the criteria?
The THRIVE Accelerator is looking for focused, well-rounded companies with great teams, strong, thoughtful ideas, and the ability to execute.
What if my company is not an expert in Agriculture field?
The THRIVE Accelerator is focused on bringing a world of resources to entrepreneurs, to help you do more, faster. We are focused on connecting the convergence of the best technology innovations and applying those in the real world of agriculture and food production. We will provide guidance and mentorship on your products or ideas, but each company in THRIVE must already be in operation or be capable of building their own business.
What networking and educational opportunities will be provided during the three months?
We will organize a variety of one-on-one and group discussions with mentors, entrepreneurs, angel investors, legal experts, venture capitalists and investment bankers, as well as others in a variety of forums. Access to the THRIVE network in Silicon Valley and in the Salinas Valley is a strong asset to the participating companies.
What resources will the top Agricultural Companies provide to THRIVE?
They will provide access to industry executives, key decision makers, and mentors to help startups shape the future of Food and Agriculture and build great companies of their own. Leaders from the Ag industry will also support the Accelerator with facilities, visibility, and proactive engagement around business opportunities that emerge from this program.
Will all the mentors come from the Ag industry?
No. They will include entrepreneurs, investors, and technologists with a breadth of experience building businesses. These mentors are drawn from SVG Partners extensive global network, Western Growers Association, Forbes, and Verizon.
Where is the THRIVE Accelerator?
The THRIVE Accelerator will be located in Salinas, CA, the heart of the Fresh Agriculture industry. We will announce the specifics of the program’s location shortly. Stay tuned!
Do the companies that participate have to stay in the Salinas area during the program?
No. Much of the program may be handled virtually until the key demo days and pitch sessions. It would be helpful -- and support a better outcome -- for the selected companies if representatives could be available to meet in the Salinas area and Silicon Valley.
Are there travel funds?
No. If you are selected to participate in the THRIVE Accelerator, you must be in a position to provide your own travel and accommodations for the key days when you will be presenting your company. Otherwise, much of the mentoring and guidance can be handled virtually.
What type of investment capital do companies participating in THRIVE Accelerator receive?
Each company participating in the program gets the opportunity to pitch to leading Agriculture VCs and companies to receive the funding they need. This can range from seed funding up to $5 Million dollars. Participation in the THRIVE Accelerator does not guarantee funding. It does ensure that you will be showcased and receive the opportunity for serious consideration from engaged investors.
Do I have to have funding already?
It is fine if you already have some funding; or if you have no funding and are in need of seed funding. You must, however, have a business case, be on the path toward protecting your technology (i.e. filing for patents), and have a strong knowledge of your potential market.
What does having your solution deployed mean?
Each major company supporting the Thrive Accelerator has agreed to participate in the selection process and deploy a solution into their operations. This will be anything from a beta test of a solution, through full deployment and commercialization deal.
How detailed does my idea need to be in the application?
In this initial application process, we ask applicants to describe the market opportunity, the team, the idea, and how you plan to execute it. You do not need to attach any specific documents (i.e., business plan). You should, however, be prepared to have your ideas well documented and ready for scrutiny should you be selected to participate.
Will the information in my application be treated as confidential?
Please do not submit any business plans, trade secrets, or “secret sauce.” Your application must include only non-confidential information. All information disclosed to us in your application will be considered non-confidential public information. THRIVE will only treat information as confidential if the information is covered by a formal, written confidentiality agreement signed by SVG Partners prior to disclosure.
Does SVG Partners own the intellectual property (IP) developed by my company during the THRIVE Accelerator program?
IP developed by a participating company is retained by that company.