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A look at the Iowa AgriTech Accelerator 2018 class

June 15, 2018

This story is the first part of multi-part series that will look at each startup in the Iowa AgriTech Accelerator 2018 class individually.

The Iowa AgriTech Accelerator recently announced the five AgTech startups selected for the program’s class of 2018.

Based in Des Moines, the accelerator is a mentor-led program that focuses on ag-based technology innovations. This year’s class is the second to go through the 100-day program.

The training and learning program began May 29 and will end August 30. The startups accepted into the program each receive $40,000 in funding along with intense mentoring and training. The program also includes field trips to investor and mentor companies, outreach, networking and presentation opportunities.

“We’re very excited about this year’s class,” said Scott McEntee, Sr. Vice President of Farmer’s Mutual Hale at the Iowa AgriTech Accelerator Breakfast Kickoff on Thursday morning. We couldn’t be more happy to see how this class will change the face of the ag industry.”

Here is a quick look at the five groups participating in this year’s Iowa AgriTech Accelerator:

AgHelp. Based out of Grand Rapids, Michigan, AgHelp is a mobile platform designed mobilize the farm-worker ecosystem to address the agriculture labor shortage. The app connects ag employers with available local labor, source labor and support services nationally at a cheaper cost than what is currently available.

BirdPreneur. BirdPreneur was established in June 2016 with the aim and vision of becoming the one-stop shop “aviculture” platform focused on helping individuals and corporate organizations raise birds such as broilers, layers, and turkeys for sales and consumption in order to increase meat and egg production across in Nigeria.

Krobel Corp. Based out of Mankato, Minnesota, Krobel Corp is developing a low-cost, easy-to-manufacture device to monitor the respiratory rate of an individual hog from nursing to finishing. The device will notify farmers of potentially sick animals, allowing for better treatment and containment.

U.S. Design Consultants. Located in Osceola, Iowa, U.S. Design Consultants develops broadcast dispensing granular products that addresses fundamental challenges and eliminates negative consequences associated with standard broadcast dispensing equipment.

VakSea. VakSea has developed a unique vaccine delivery platform for aquaculture that is more affordable, more effective, and easier to deliver. VakSea’s products can be fed directly to fish, eliminating the need for expensive, labor intensive, and invasive injection vaccines.

Presentations

This year’s startups will first present their innovations and share their ideas at the Farm Progress Show, Aug. 28-30 at Boone in central Iowa.

Following that, this year’s class will also present and explain their innovations at the annual Accelerator’s Demonstration Day on Oct. 16 during World Food Prize week in Des Moines.

 

A look at the Iowa AgriTech Accelerator 2018 class | Clay & Milk
A central Iowa ag-tech accelerator has secured more backers and finally has a name. The Greater Des Moines Partnership first announced the accelerator last year, naming four initial investors. On Monday, the Partnership said the program will be called the "Iowa AgriTech Accelerator" and named three new investors. The new investors include Grinnell Mutual, Kent Corp. and Sukup Manufacturing, all Iowa companies. They join investors Deere & Co., Peoples Co., Farmers Mutual Hail Insurance Co. and DuPont Pioneer. Each investor has agreed to put up $100,000 for the first year of the accelerator. Startups entering the program will receive $40,000 in seed funding in exchange for 6 percent equity. Tej Dhawan, an angel investor and local startup mentor, is serving as interim director until the AgriTech Accelerator names a permanent leader. Dhawan held a similar role with the GIA before Brian Hemesath was named as managing director. As interim director, Dhawan said his main job includes hiring the accelerator's executive director, establishing a business structure and initial recruiting for the first cohort. The accelerator will place few filters, such as location and product, on the applicant pool, Dhawan said. "When you’re seeking innovation, innovation can come from every corner of the world so why restrict ourselves," he said. One area the the AgriTech Accelerator won't recruit from is biotech. For its first cohort, the AgriTech Accelerator will work out of the GIA's space in Des Moines' East Village, Dhawan said. A future, permanent home is still to be decided. The accelerator's program will host startups from mid-July through mid-October, ending with an event connected to the annual World Food Prize. The GIA, which the AgriTech Accelerator is based on, also ends with presentations at an industry event. The accelerator has also started lining up a mentor pool. The Iowa Corn Growers Association, Iowa Soybean Association and the Iowa Pork Producers Association have agreed to provide mentors, as has Iowa State University. While the AgriTech Accelerator is loosely based off of the GIA, it will differ in its business structure, Dhawan said. The GIA runs through a for-profit model for both operations and its investment fund. The AgriTech Accelerator will have a nonprofit model for its operations and a for-profit setup for its fund. Dhawan said the nonprofit model is being used so the accelerator can better work with other nonprofit partners, such as trade associations. "These are all organizations that are nonprofits and can be amazing stakeholders without ever having to be investors in the accelerator," he said. "It becomes easier to work with trade associations in their nonprofit role when we are also a nonprofit." When it's up and running, the AgriTech Accelerator would be one of a handful of ag-focused startup development programs in Iowa. Others include the Ag Startup Engine out of Iowa State University and the Rural Ventures Alliance from Iowa MicroLoan. Matthew Patane is the managing editor and co-founder of Clay & Milk. Send him an email at mpatane@clayandmilk.com.
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