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BrokerTech Ventures announces its 2022 cohort

April 5, 2022

BrokerTech Ventures (BTV) has announced the 12 insurtech startups that will take part in the 2022 cohort.

“As we kick off the third year of our BTV Accelerator, I am thrilled with the diversity of technologies we were presented and will move through the accelerator, as well as the amount of international interest and presence we now have in the program — from Canada to Israel,” said Dan Keough, Holmes Murphy chairman and CEO and BTV co-founder. “We truly have some of the highest-caliber, early-stage and growth insurtech companies on our roster, and they touch nearly every angle of insurance risk management — from P&C commercial to cyber to health/benefits-tech solutions.”

Here are the startups accepted into this year’s cohort:

The accelerator cohort kicked off this week in Des Moines and will run until May 6. The first week of the accelerator—called ‘BTV Mania‘— will take place in-person in Des Moines. The rest of the accelerator will take place remotely.

“I cannot wait for this accelerator class to start. The level of partner engagement was amazing during our Selection Series, and I anticipate it getting even better moving forward,” said John Jackovin, executive director of the BTV Accelerator. “Additionally, being able to meet in person for our first-ever ‘BTV Mania’ this week is extremely exciting, and I believe will drive better, deeper, and longer lasting relationships between our partners and startups.”

During the program, the startups will advance their technologies, accelerate their progress through a select mentor network, receive $50,000 in seed funding, and gain access to BTV’s distribution platform to deploy the technologies.

“While the accelerator runs for just 5 weeks, it fosters a culture of innovation and entrepreneurship within the broker-centric insurtech space with continued support beyond accelerator graduation,” said Keough. “The true value in our BTV Accelerator and business model is in the engagement with our trifecta ecosystem of BTV agencies, insurance companies, and capital resources. Many of the startups who go through the accelerator have an engagement with our partners that lasts well beyond the accelerator as we work to deploy their technologies to collectively help our clients and the insurance industry identify risks sooner to drive down costs faster.”

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BrokerTech Ventures announces its 2022 cohort | 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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