THRIVE Accelerator awarded $100k grant from Wells Fargo to foster global agriculture startup companies
PALO ALTO, Calif., July 13, 2016-- SVG Partners announced today that Wells Fargo, the largest banking and lender in the U.S. commercial agriculture sector, and a leader in environmental sustainability, awarded a $100,000 grant to the THRIVE AgTech Ecosystem. The collaborative effort will combine SVG’s expertise in growing and scaling global technology companies with Wells Fargo’s financial mentorship and philanthropic support to streamline commercialization for technologies in the agriculture sector.
The grant from Wells Fargo will support commercialization opportunities for agriculture and internet-of-things startup companies and help deepen the connection between agriculture and environmental initiatives with Wells Fargo’s customers, communities, nonprofits, universities, and business groups. In addition, Wells Fargo sponsored the 2016 Forbes AgTech Summit to formally announce the grant funding.
”Wells Fargo sees tremendous opportunity to leverage our resources and expertise to support the Thrive Ag Tech program and broader ecosystem,” said Matt Servatius, head of the Wells Fargo CleanTech Group. “We are committed to supporting startups that are working to solve some of the most critical challenges facing the agriculture sector.”
“We’re delighted to welcome Wells Fargo as our premier banking supporter as part of the THRIVE AgTech ecosystem and join our headline partners Land O’ Lakes, Verizon, Western Growers, Taylor Farms, and the City of Salinas in finding innovative solutions to the world’s agriculture and food challenges,” said SVG Partners founder John Hartnett.
About Wells Fargo CleanTech Group
Since 2005, Wells Fargo has provided more than $52 billion in environmental finance, supporting sustainable buildings and renewable energy projects nationwide. This includes investments in more than 300 solar projects and 47 wind projects that generate enough clean, renewable energy to power hundreds of thousands of American homes each year. For more information, please visit www.wellsfargo.com/about/csr and the Wells Fargo Environmental Forum.
ABOUT SVG PARTNERS
SVG Partners is an investment, technology and advisory firm that partners with organizations on strategy, innovation and global expansion. Since 2007, SVG’s experience team of senior technology leaders and venture capital investors have worked with global corporations and scaling companies to drive competitive advantage from strategy to implementation. Through its accelerator and open Innovation programs, engineering and development services, and executive strategy and advisory, SVG Partners helps build and scale innovative technology companies worldwide. SVG Partners is based in Silicon Valley, CA. www.svgpartners.com
ABOUT THRIVE AGTECH
THRIVE AgTech’s mission is to connect the expertise of tech companies to on-the-ground knowledge of agricultural companies, the financial backing of investors, and the entrepreneurs solving problems in the AgTech space. THRIVE unites these communities in order to drive the development and adoption of sustainable technology enhancements necessary for securing the global food demands of the future. The THRIVE program targets two stages of companies, the very early to commercially ready. Early stage companies accepted into the program go through a rigorous bootcamp and receive mentorship from industry leaders to help them scale their companies. THRIVE's new Open Innovation program directly connects corporate partners with high growth startups to trial and deploy cutting edge technologies focused on agriculture.