The University of Guelph and SVG Ventures | Thrive, one of the world’s largest funders and accelerators of agriculture innovation, have announced a partnership.
SVG Ventures | THRIVE is a Silicon Valley company that is connected to 5,000 startup companies in agriculture and food from 100 countries. It has made 40 investments in agriculture technology, which makes it the largest agriculture and food startup investor in the world, according to AgFunder.
Thrive Canada is the organization’s recent Canadian platform and includes other partners such as Farm Credit Canada.
Why it matters: Ontario agriculture has been considered underserved in venture capital investment in agriculture innovation. SVG Ventures brings global experience in agriculture investment to Canada.
“Guelph researchers have been drivers of agri-food innovation for over a century,” says Malcolm Campbell, vice-president of research at the University of Guelph. “This partnership is a logical continuation of that history, better enabling us to address the needs of the agri-food sector today while providing it with innovations and a highly skilled talent pool that will power the sector for the foreseeable future.”
The memorandum of understanding between SVG Ventures and the University of Guelph will support the establishment of SVG’s THRIVE Canada Accelerator and start-up program.
The THRIVE Accelerator Program at the university will support SVG’s mission to advance the next generation of technology to support growth in the agriculture and food industries and give University of Guelph researchers access to SVG’s global network of entrepreneurs, start-ups and corporate clients.
“We look forward to expanding our reach within the Canadian ecosystem to harness the power of technology to advance the future of food and agriculture,” said John Hartnett, chief executive officer and founder of SVG Ventures.
“I am ecstatic that U of G is partnering with SVG Ventures on the ground floor of their efforts to catalyze the Canadian agri-food innovation ecosystem,” said Campbell.