Up to $40,000 is available from SproutX to help agtech startups refine their ideas in food, fibre and agriculture to boost efficiency and productivity.
SproutX Accelerator Program
The SproutX Accelerator Program is Australia’s first agtech focused accelerator program. By gathering the best entrepreneur mentors, venture capitalists, agriculture focused corporates, government and academia in the one place, it offers startups an opportunity of a lifetime to create world class growth companies.
Funding
With the backing of the $10 million venture fund, SproutX Accelerator Program is offering startups:
- $40,000 in capital funding
- Ongoing venture capital backing after the end of the Accelerator
- Mentoring from the world’s top agtech experts
- 6 months office space in our agtech co-working space
- Introductions to Australia’s agricultural institutions eg. NFF, MLA and RIRDC
- Nationwide media & PR access via our partners & supporters
- Distribution opportunities from Australia’s largest agriculture brands including Ruralco and Findex
SproutX is seeking 8% of each company coming into the SproutX Accelerator Program in exchange for the 40k of capital and SproutX services and support. After the end of our 6 month Accelerator program, startup companies will continue to be backed by their venture capital fund.
Eligibility
SproutX is seeking the classic trio of traction, team and technology- in that order. Team and technology are obvious, however traction can come in the form of pre-sales, sales, consumer interest, active customers and even letters of intent.
Teams are able to use the capital as they wish, however capital supplied will be based on milestones being agreed upon and achieved with program mentors.
While you do not have to be an Australian citizen, your business must be domiciled in Australia and during the program you must be located in the continent. If you are from overseas you will be required to move to Australia during the program.
Accelerator Info Night Roadshow
SproutX is conducting Information Nights around Australia. Below are the cities and dates currently booked in, along with links to details and registration where it is currently available:
- Melbourne 19/04/17
- Brisbane 19/04/17
- Sydney 20/04/17
- Adelaide 26/04/17
- Perth 27/04/17
- Ballarat 01/05/17
- Wagga Wagga 03/05/17
- Launceston 05/05/17
- Toowoomba 09/05/17
Timing
Applications close 8 May 2017.
