if you are a startup...
Why should i apply to thrive?
We work with agtech and foodtech startups to develop their ideas, trial and deploy their products with corporates and growers, and identify and engage them with potential investors and customers. We provide these mentorship and exposure opportunities with the help of our corporate partners and investors, all of whom are committed to advancing agtech and foodtech innovation. We work throughout the year with our corporate partners to identify pain points and areas of opportunity within their organizations; conversely, we scout and engage with startups to address these needs.
WHAT TYPES OF companies does THRIVE look for?
The THRIVE Venture & Innovation Platform 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, including: big data & analytics, biotechnology, cloud services/SaaS, connected devices, infrastructure & supply chain, and automation & robotics
- Funding stage: Seed to Series A+
- Product Stage: product in development through to product in market
how do i apply for the accelerator?
THRIVE hosts one accelerator cohort class a year. However, THRIVE now offers rolling application form year round, which you can find here. We will let you know when we have received your application and will get in touch again once we begin the selection process. This occurs at the end of each year (November-December).
HOW WILL THE FINAL startup COMPANIES BE CHOSEN? WHAT ARE THE CRITERIA?
THRIVE is looking for focused, well-rounded companies with great teams, disruptive ideas, and the ability to execute. We work with our corporate partners to select our cohort (comprised of 10-12 startups), using team, technology, and total addressable market as criterion.
WHAT NETWORKING AND EDUCATIONAL OPPORTUNITIES WILL BE PROVIDED DURING THE THREE MONTHS?
We organize a variety of one-on-one and group discussions with mentors, entrepreneurs, angel investors, legal experts, venture capitalists and investment bankers, and more. Access to the grower, corporate, and investor networks in Silicon Valley and Salinas Valley is a strong asset to the participating companies.
What are the specific benefits of participating in the thrive accelerator?
- INVESTMENT We provide companies with an investment of $100,000 ($50K investment and $50K in program value) for 5% equity. In some cases, we make follow on investments.
- MENTORSHIP We pair each startup with two mentors: one specializing in technology and business, the other horticulture and/or specific industry verticals, all who bring a wealth of knowledge from their respective industries and geographies.
- COACHING We provide companies with invaluable business coaching each week for ten weeks covering pitch development and delivery, sales & marketing, investment, legal guidance, and global expansion.
- INCUBATOR SPACE We provide startups with a hot desk at the Western Growers Association in downtown Salinas, California for the duration of the program.
- LEGAL COUNSEL We offer one-on-one legal counsel with leading law firm Orrick.
- ENGAGEMENT WITH CORPORATES We provide startups direct access to some of the largest food & agriculture corporates to initiate product testing, commercialization, and acquisition.
- FORBES AGTECH SUMMIT We provide startups with tickets to the Forbes AgTech Summit, which includes a demo table at the Innovation Showcase.
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.
If you are a corporate...
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 food and agriculture industry will also support the accelerator with facilities, visibility, and proactive engagement around business opportunities that emerge.
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. If you are interested in becoming a mentor, please click here.
Where is the THRIVE Accelerator?
The THRIVE Accelerator will be located in Salinas California and the Silicon Valley for a handful of mandatory, in-person sessions. However, a majority of the accelerator takes place virtually by webinar and by phone.
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?
We provide companies with an investment of $100,000 ($50K investment and $50K in program value) for 5% equity. We may make follow on investments or connect you with other potential investors or customers.
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.