‘Farm to Fork’ – almost everyone has an immediate reaction or assumption when they hear this phrase. We are excited to partner with Cargill and Ecolab and I wanted to take this opportunity to let you know what we are thinking about for the first Techstars Farm to Fork Accelerator.
Broadly speaking, the digital side of the food value chain is of most interest to us. This could be companies building smart devices, working with big data, artificial intelligence or creating a new software solution. Challenges to food are not limited by geography nor rural or urban settings.
The space is incredibly broad and there is no way we could put together an exhaustive list of opportunities that may catch our eye, but here are a few specific areas of interest to get us started:
Two easy questions to ask when defining this bucket: Does it make a farmer’s life better, more sustainable or more productive? How can we help farmers do more with less? From weather and climate to animal health and productivity to computer vision, this bucket alone is big. Here are a few more areas of interest:
- Smart Water Usage
- Ag Finance
- Payment Systems
- Yield Management/Prediction
- Risk Management
- Animal Health / Animal Productivity
- Weather/Climate Systems
- Computer Vision
Food & Safety
A very popular topic in 2017, food & safety will continue to be a hot topic into the foreseeable future. When we think about food safety, we think about it across the entire value chain. This includes the safety of employees working in the space, the safety of the end consumer – anyone that eats, pest control and animal health and safety. Big data, machine vision, blockchain, and new software systems are all tools entrepreneurs are using to tackle these problems and we are excited to see what’s out there. For us food safety goes beyond just “safe food.”
Food Retail & Restaurants
How and where consumers find and eat their food is changing. Is technology going to have the same effect on brick and mortar grocers or restaurants that it has had on traditional retailers? We have already seen several trends begin to take off that are driven by technology including food with a story, farm to consumer, food ecommerce, and food delivery all of which are interesting. Beyond these how entrepreneurs tackle prepackaged foods, restaurant management and health and nutrition could all be interesting. I am excited to see how entrepreneurs are innovating in this space.
Food Manufacturing & Supply Chain
Another really large bucket, it’s everything between the farm and the fork! I have always loved companies tackling real problems in areas that may be a bit less “sexy.” From machinery to the financial tools that make the supply chain run, there is a ton of potential here. Here are a few themes in this space that are interesting:
- Sustainable Supply Chain
- Cold Chain
- Last Mile
- Quality Contro
- Energy Consumption
- Computer Vision
- Predictive Modeling
- Futures and Automated Trading
- Fraud Prevention
- Smart Devices/IoT
Roughly one-third of all food produced for human consumption is lost or wasted. This is almost one trillion dollars worth of food each year which equates to about one billion tonnes of food. One Billion! About 2/3rd of this waste comes from industrialized countries and the other 1/3rd occurs in developing countries. The problem doesn’t stop with food; water waste is also a major issue. Tackling these problems will be a major path to feeding and providing sustainable, safe water for the world’s growing population.
Are you working on a solution for the areas mentioned above? Applications are open, apply today!
Feel free to send me an email to connect – firstname.lastname@example.org. We will also be on the road over the next few months. Look out for us in NYC, Miami, San Francisco, Memphis, Kansas City, Omaha, Austin, Boston, and maybe a few others! Stay tuned to Techstars social media for updates.
Techstars, the worldwide network that helps entrepreneurs succeed, is excited to announce the launch of the Techstars Farm to Fork Accelerator. It’s our first program focused on the tech/digital side of food and agriculture and I’m thrilled to be on board as the managing director. As the name implies, we’re looking for the best entrepreneurs across the entire food value chain, from AgTech, manufacturing and supply chains, to food safety, waste reduction and traceability.
Ecolab is the global leader in water, hygiene and energy technologies and services that protect people and vital resources. With 2016 sales of $13 billion and 48,000 associates, Ecolab delivers comprehensive solutions and on-site service to promote safe food, maintain clean environments, optimize water and energy use, and improve operational efficiencies for customers in the food, healthcare, energy, hospitality and industrial markets in more than 170 countries around the world.
Cargill provides food, agriculture, financial and industrial products and services to the world. Together with farmers, customers, governments and communities, we help people thrive by applying our insights and 150 years of experience. We have 155,000 employees in 70 countries who are committed to feeding the world in a responsible way, reducing environmental impact and improving the communities where we live and work.
Personally, I have been an entrepreneur and investor for most of my career. I’ve bootstrapped, raised venture capital, taken three companies to exit and have had at least one fail along the way. Entrepreneurship is my passion. I can’t think of a better platform to help fellow entrepreneurs succeed than this new program combining the Techstars worldwide network with these two powerhouse organizations in food and agriculture.
Our new mentorship-driven accelerator program will be located in the center of the food and ag tech world, The Twin Cities, where there are more than 25 billion dollar plus food and ag tech companies employing nearly 100,000 people focused on food and ag space. The program will run in Q3 2018; applications will be open on January 8, 2018.
Opportunity for Disruption
The food value chain continues to grow as an area of focus for entrepreneurs and tech investors. Why? Because the time is right for disruption! Globally, food spoilage is rampant; food safety is a growing concern, yet we don’t have the solutions to create more land or enough fresh water needed to feed the growing population. Now is the time to change the way things get done. Great entrepreneurs tackle big problems and the Techstars Farm to Fork Accelerator is thinking huge.
The Perfect Vertical for the Techstars Process
While there is growing interest in using technology to disrupt the space, food and ag entrepreneurs lack the attention and resources that benefit other verticals. But big players are now ready to move. Cargill and Ecolab are working with Techstars to see the global challenges and possible solutions through the eyes of entrepreneurs. They want to work closely with these innovators and help develop technologies that take advantage of opportunities and solve big problems.
Entrepreneurs shouldn’t go it alone! Both Cargill and Ecolab have broad knowledge and deep industry expertise — we leverage their resources to help entrepreneurs navigate a path from idea to impact? The Techstars Farm to Fork Accelerator is the perfect platform to connect these global giants in food processing, food safety and agriculture with innovators who have ideas and technical knowledge.
Everyone wins. Because at Techstars and with our partners, we share a give-first mentality, we’re going to help entrepreneurs do more faster.
A Food and Ag Hub That’s Ready for Innovation
Choosing the Twin Cities location was strategic. Minnesota was built by food and agriculture innovators over 150 years ago along the banks of the Mississippi and it continues to be a thriving, supportive place to build a company. Today we house many of the largest food and ag companies in the world, a renowned land grant university and an ecosystem full of top talent that specializes in this vertical. Our history is food and agriculture and with programs like this food and ag tech will play a big part in the region’s future.
As the managing director of the Techstars Farm to Fork Accelerator program, I’m excited to work with Cargill, Ecolab, Techstars and the best entrepreneurs in the world to disrupt food and agriculture.
The first ever Startup Next Food & Tech program is now halfway finished. Over 50 mentors are working with our 6 companies, including founders, investors and corporate executives.
While all of our sessions have been high energy, one highlight was a panel of CEOs from the Techstars Retail Accelerator, in partnership with Target. During the “ask me anything” style panel, advice on everything from how to get that first sale to how to engage mentors and get the most out of the program was covered. It was great to see the TS Retail teams already start to #givefirst. (It is worth pointing out that one of those CEOs, Francois Poirier of MakerBloks, is a Startup Next Montreal Alumni!)
Check out the Class:
Bizzy Coffee is the energy source, both mentally and physically, for the next generation of movers and shakers. Bizzy has become the #1 rated selling product in their category on Amazon and were recently accepted into HyVee chain-wide. They are now focused on raising a round of seed capital.
Termi Platform is a smart rodent prevention platform that helps the food industry protect vital food assets with sensor-enabled connected devices, and a data analytics platform that enables more effective & cheaper, DIY rodent prevention. Termi recently completed a new version of their trap with more advanced sensors and data collection capabilities. Termi is now moving focus to finding beta testers from the food & ag industry for their MVP.
Local Crate is a meal-kit delivery service focused on being locally responsible, while building the experience and true connection to real food that the market is craving! Local Crate recently hit capacity at their current facility, topping $35k in revenue after just 9 months in business. They are working towards a seed round which will be used to help fuel growth.
HerdDogg is a wearable device for improved accuracy of livestock traceability and biometrics. HerdDogg closed a research pilot with Oregon St. University and is a Startup Showcase finalist at the ECO SXSW. HerdDogg is prepping for fundraising and the launch of their new product.
Philia Foods creates handcrafted, all natural feta cheese spreads in four bold flavors; Rosemary & Basil, Roasted Red Pepper, Dill & Garlic and Habanero. Philia Foods has tripled their distribution points in the last 8 months, including a roll out to 50 NYC retailers. Phillia is looking for a strategic investor who will be able to advise & help scale the company.
Jonny Pops‘ all-natural, frozen fruit and cream pops are like a smoothie-on-a-stick. Jonny Pops topped 6,000 retail locations and expanded their school lunch program to 8 states. Schools see a 15% increase to lunch participation when Jonny Pops are on the menu. Jonny Pops is looking to expand their network and meet with other founders that have scaled food companies quickly.
With a strong desire to support the entrepreneurial ecosystem in the Twin Cities, the Land O’Lakes partnership with Techstars Startup Next will galvanize the best startups and provide them with mentorship, partnership, and executive access to help them along their entrepreneurial journey.
From farming to dairy and consumer products, the Twin Cities have a long history of success in food. This program is an exciting opportunity to leverage this expertise and ensure food and ag tech entrepreneurs play a serious role in the burgeoning startup scene.
Techstars will work closely with Land O’Lakes executives to recruit startups working anywhere in the farm-to-fork food chain. Examples include innovative consumer products, traceability tools, distribution, supply chain efficiency, safety, food processing and logistics innovation.
Solutions for the dairy industry – from dairy farmers to dairy transportation, processing and products – will be of particular interest. Startups working to solve problems related to food and technology in the retail, foodservice, industrial or other channels are also invited to apply.
Entrepreneurs will gain hands-on mentorship and education during the program, culminating in a Demo Day event. Land O’Lakes will provide expertise and mentorship to program participants along with other leaders from the Minneapolis startup ecosystem.
An informational session will take place tomorrow, Tuesday, June 7 from 5:30 p.m. – 7 p.m., in Minneapolis. Those interested in applying for the program are invited to attend and learn more. Event details and registration are here.
In addition to the in-person event, interested entrepreneurs also can join us for an online informational session on Thursday, June 16, at 3 pm CDT. Registration for the June 16 session can be found here.
Application deadline is June 30, 2016.
Startups interested in applying to Startup Next Food and Tech, presented by Land O’Lakes can apply here.