Saturday, December 2, 2023

Agribusinesses reap accelerator benefits

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Sprout accelerator is offering $500,000 to innovators from traditional agritech and future-food focused start-ups.
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Eight will be selected to join the six-month accelerator starting in January. 

The Accelerator offers $75,000 worth of business coaching, mentoring, network access and MBA style block courses. 

Entrepreneurs will receive business mentoring and workshops from world-class business owners and directors from across the technology, agricultural and food industries. 

On completion of the accelerator, participants will also have access to an investment pool of $500,000.

Agritech and future-food start-ups have gone through the accelerator since 2015 with alumni raising a total of $11.5 million in capital and going on to grow their revenue by 50% while achieving their biggest sales on record at the end of the accelerator.

Arepa, a beverage and brain-food company combining nature, food technology and neuroscience was one of the companies selected this yiear. 

Chief executive and founder of Angus Brown says the accelerator helped him with new ideas for building his business and provided guidance on important decisions. His mentors were really helpful and supportive.

“The mentors and experts I engaged with were great.

“They backed my thinking and ideas but also challenged me to ensure Arepa was on the right path.”

Powerplant, a modular plant growing system, was another company that went through the 2019 accelerator. Founder Kevin D’Ambros-Smith says Sprout transformed his business and the team he worked with totally challenged his assumptions and industry knowledge.

“As a result of the learnings we gained in the Sprout Accelerator we pivoted our business and now have two clear business opportunities we are actively pursuing. 

“The team at Sprout are outstanding. They have a vast range of knowledge and expertise from agritech through to sales and capital raising,” D’Ambros-Smith says. 

Registrations for the Accelerator close on November 22.

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