The new THRIVE Canada Accelerator has unveiled the participants in its first cohort for Canadian agri-food innovation start-ups. It’s led by SVG Ventures | THRIVE, a leading global investment platform headquartered in California’s Silicon Valley that has been helping start-up founders and entrepreneurs around the world since 2010.
Why it matters: Producing more with less in a sustainable way to reduce waste and manage scarce resources is the big challenge facing the global agri-food system. Finding solutions to that challenge will require cutting edge innovation and technologies beyond what is available today.
“Fifty per cent of today’s global population are Millennial and Gen Z who are placing new demands on the food system, and the challenges in that food system are being further exacerbated by COVID-19,” said SVG Ventures | THRIVE founder and CEO John Harnett during the recent THRIVE Spotlight on Canadian Agri-Food Innovation.
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His organization has been helping agtech start-up founders for the past eight years with access to investment, customers, experts and mentors, and according to Hartnett, THRIVE alumni have collectively created more than US$1 billion in value.
Participation in the new accelerator means a three-month program that will offer entrepreneurs access to mentors, investors, prospective customers and widespread networking opportunities. Cohort members will also be part of a Demo Day at the THRIVE Canada Agtech Summit to be held during this year’s Calgary Stampede where they’ll have a chance to showcase their innovations.
Of the 10 winners, four were selected from Ontario, two each from Quebec and B.C., and one each from Alberta and Newfoundland & Labrador. Cohort members include:
- aiSight uses a computer vision video analytics solution to make agriculture supply chain automation more efficient and sustainable.
- AGvisorPRO instantly connects the ag industry to a network of trusted and specialized advisors
- Cattle Scan uses sensor technology to monitor internal cow metrics for early illness detection
- EcoBloc is a rodent deterrent that protects food supply chain products and equipment from loss, downtime and biosecurity risk.
- Ladybug Robotics reduces labour needs in the vineyard with its smart pruning robot.
- Nectar’s BeeTrack system allows for real-time tracking and management of beehives, resulting in healthier honeybee colonies.
- Nurture Growth Biofertilizer creates organic microbial fertilizer from restaurant food waste.
- RHST Industries “Water Pearl” reduces water use by limiting evaporation.
- Susterre has developed ultra-high pressure water jet technology that will make it easier for farmers to adopt no-till or conservation tillage practices.
- Verdi’s precision irrigation technology for vineyards and orchards will let farmers grow higher quality, more uniform crops.
In 2021, SVG Ventures | THRIVE established a more formal foothold in Canada with the creation of THRIVE Canada, which is supported by Alberta Innovates, Calgary Economic Development, Platform Calgary and Farm Credit Canada (FCC). THRIVE Canada partners from Ontario include University of Guelph and Bioenterprise Canada.
The accelerator program was launched last September and immediately garnered tremendous interest across Canada. More than 160 Canadian entrepreneur applications were received, led by Ontario (32 per cent of applications), B.C. (24 per cent), Alberta (22 per cent) and Quebec (11 per cent).
In January, the Global Agri-Food Innovation Hub in Calgary was announced, which will serve as THRIVE’s Canadian agri-food innovation headquarters.
“There is a sense of energy and excitement and more activity than there has been historically in the ag investment landscape in Canada, which speaks to the opportunity for Canadian agriculture,” said Rebbecca Clarke, vice president and treasurer at FCC. “We need to capitalize on this to make sure all of this activity becomes successful activity, not just with capital but also mentoring and the network of support in this space. We need to be bold in Canada and celebrate some of those successes.”
To date, SVG Ventures | THRIVE has graduated seven global cohorts or 73 start-up enterprises. That includes seven from Canada: including Milk Moovement, Healthy Cow Corporation, Spornado, VeriGrain, Livestock Water Recycling, Stream.ML and Lucent Biosciences.
