Early-stage agritech startups from around the world have until this Sunday (11 August) to submit their applications for the AGrowth Accelerator Programme.
The 12-week equity-free programme is a joint initiative of Thailand’s National Innovation Agency and global venture capital (VC) firm and corporate innovation accelerator Nest.
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The all-expenses paid programme aims to drive adoption of relevant technology and innovation to support Thailand’s agricultural sector.
During the course of the programme, startups will work closely with different stakeholders on a proof-of-concept (POC) with the aim of securing a commercial agreement with the corporate sector.
The AGrowth Accelerator Programme will kick off in September in Bangkok, Thailand
Nest said in a statement on its website that it is seeking startups from across the globe with innovative agritech solutions within five areas, namely:
- Data transparency and analytics: This could include sensors to collect external data, monitor soil and crop health. It also includes visualisation tools that analyse collected data, as well as predictive analytics to anticipate potential crop yield and the actions needed to maximise productivity
- Automation and digitisation: Here AGrowth is looking for robotics solutions that assist farmers with manual processes; drones that help reduce times spent inspecting fields; and process automation to replace repetitive in-field routines.
- Logistics and supply chain visibility: The accelerator is looking for a range of interventions. These include: collaboration tools to create a centralised platform for farmers to interact with multiple service providers and share machinery; marketplaces for farmers to discover, compare and select affordable cold-storage and transportation options; blockchain platforms to enable farmers to transact directly with storage or logistics providers, and in doing so cut out the middleman; and traceability solutions to safely track products along the value chain
- New market identification and access: These include predictive analytics to forecast the demand for a certain commodity from prospective buyers; sales management tools to digitise, track and manage existing sales processes more efficiently; and marketplace to connect sellers with buyers directly.
- Urban agriculture: The accelerator is looking for — vertical farming innovations to increase precision and efficiency of indoor farming; urban farming technologies to bring farming to buildings, public spaces and private homes; and plant technologies to foster plants that assist pollution reduction effort.
To be considered for the programme, applicants must:
- Have a functioning prototype with a product ready to be validated in a commercial setting or be revenue-generating startups looking to scale into new high potential markets
- Be committed to spending 12 weeks with the corporate sponsor to develop a potential proof-of-concept (POC)
- Have solutions addressing challenges associated with the programme’s focus areas
Successful applicants will be notified later this month. Thereafter, the programme is set to kick off next month at the True Digital Park in Bangkok with a demo day set to take place in November.
At the demo day, startups will have an opportunity to showcase their products and services to a range of potential investors which Nest said may include VCs and influential industry leaders.
In addition, Nest will maintain an ongoing relationship with founders and continue to make introductions to investors as needed after the programme concludes in December.
The initiative will also arrange and cover accommodation costs for the duration of the programme, as well as one set of return flights per selected startup.
Other benefits of the programme include:
- An opportunity to demonstrate your startup’s capabilities and potentially integrate your solution within a corporate partner’s organisation
- Targeted introductions to industry leaders and investors
- Dedicated mentor and experts with agritech and other relevant expertise
- Lifetime membership at Metta, a digital member’s club for the global entrepreneurial community
Those looking to learn more about the programme can do so here, while applications can be submitted here.
Featured image: Nest via Twitter
