Feb 18, 2020

Thrive Australia Challenge winners, investment startups named

SVG Ventures-Thrive, a global agrifood innovation and investment platform based in Silicon Valley, announced Feb. 18 its entry into the Australian market with a view to establishing a headquarters and hub for SVG-Thrive in Melbourne and its intention to identify promising Australian startups, invest in them and accelerate their technological and business growth.

SVG Ventures-Thrive existing global Corporate Partners include leading agriculture and technology corporations such as Corteva, Driscoll berries, Kubota, Trimble, Taylor Farms, Valmont, Yamaha & Forbes who’s focus is on finding solutions and potential investment opportunities. SVG will focus on identifying emerging technology solutions that will solve some of the critical challenges facing the Agriculture industry and supply chain.

The development of global partnerships with both Commonwealth Scientific and Industrial Research Organization (CSIRO) and the State of Victoria in conjunction with the existing Thrive ecosystem will create the opportunity to showcase and accelerate the best of  Australia’s AgTech and FoodTech innovation globally. Thrive Australia is part of SVG Ventures long-term strategic plan to create a bridge with Silicon Valley investors, startups, and corporate partners to bolster innovation and development in Australia’s AgTech sector.

“Our agriculture industries are facing major challenges, and science and technology are enabling us to drive farm productivity and create a sustainable future that address these current and future challenges. CSIRO is thrilled to be partnering with SVG Ventures-Thrive to support Australian start-ups that are working to develop solutions for farmers that increase their productivity and efficiency,” said Nick Pagett, director of global CSIRO.

To launch this strategic partnership, SVG Ventures, in collaboration with CSIRO and the State of Victoria, hosted the inaugural Thrive Australia Challenge, a live pitch event for AgTech startups and research projects. “Victoria is a global leader in agriculture and food production – couple this with our support for startups and growing focus on agri-food tech, and you’ve got the perfect place to host the Thrive Australia Challenge,” said Jaclyn Symes Victorian Minister for Agriculture and Minister for Regional Development.

Nine finalists pitched their technology solutions on stage:  HiveKeepers, Zondii, Blakthumb, DiagamiRS, Plaftfarm, SOS Bio, Grow Logic,  Mobble  and Furrow. Remarkable research, impressive pitches, and scalable agtech solutions were key criteria for the judges. The winners were determined ultimately for their innovative solutions and growth potential.

 “The Thrive Australia Challenge exemplifies our focus on global entrepreneurs and continued commitment to solving the critical challenges facing the agrifood sector and creates an opportunity for Australian AgTech startups to get their fair share of global venture capital investment.“ said John Hartnett, CEO and Founder SVG-THRIVE who also keynoted at the evoke Agtech Summit in Melbourne on Feb. 18.

The winners of the were Thrive Australia Challenge HiveKeepers, DiagamiRs, and Platfarm as the winners of the THRIVE Australia Challenge.  In addition to receiving an investment of up to $250k each winner will be fast-tracked into the Thrive VI Accelerator Program, culminating with a pitch at the renowned Forbes Agtech Summit in June 2020. 

SVG Ventures-Thrive is the leading AgriFood innovation ecosystem, comprised of top agriculture, food & technology corporations, universities, and investors. With a community of over 2,500 startups from 90 countries, the Thrive platform invests, accelerates and creates unparalleled access for entrepreneurs to scale globally to solve the biggest challenges facing the food and agriculture industries. Thrive’s corporate innovation program is focused on connecting their corporate partners with emerging technologies and startups that will make the most significant impact in their organizations.

AgFunder recognizes SVG Ventures-Thrive as the “Most Valuable AgriFood Platform in the World.” For more information, visit www.thriveagrifood.com.