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The Spoon

Daily news and analysis about the food tech revolution

Farm to Fork

11 Food Tech Startups Will Join TechStars 2020 Farm-to-Fork Virtual Accelerator

TechStars today announced the 2020 class of its Farm-to-Fork program, which selects and supports companies and entrepreneurs working in the food and agricultural industries. The program is in its third year, with 2020 being the first time it goes 100 percent virtual, thanks to the ongoing pandemic.

But if there’s anything akin to a silver lining in the midst of a global health crisis, it may just be the many tech innovations now coming out of the food industry at a faster pace than ever before. “The food system has changed more in the last six months than it has over the entire five years I have been investing in the space,” Brett Brohl, Farm-to-Fork’s Managing Director, said in a press release. 

The Farm-to-Fork Accelerator looks for early-stage entrepreneurs and companies addressing major issues in the food chain around food safety and security, supply chain management, and ag tech.

The 2020 class includes 11 startups:

  • AgTools, Irvine, Calif.: A real-time data intelligence platform for the food and ag industries
  • Applied Particle Technology, St. Louis, Mo.: A data platform for automating health and safety in mining 
  • Boson Motors, Freemont, Calif.: Electric vehicles for farmers
  • Canomiks, Rochester, Minn.: A genomics, bioinformatics and AI-based platform for functional food and bev as well as skincare
  • FeedX, Madison, Wisc.: An online marketplace for the animal feed industry
  • H20kInnovations, Boston, Mass.: A contaminant management system for industrial water
  • Iamus, Dublin, Ireland: Uses AI and robotics to help poultry farmers with production safety
  • IXON, Hong Kong: Makes advanced sous-vide aseptic packaging that keeps protein stable at room temperature for up to two years
  • Milk Moovement, Halifax, Nova Scotia: A cloud-based platform for the dairy industry
  • Satis.AI, London, England: Develops AI operating systems for autonomous kitchens in foodservice
  • Toolsvilla, West Bengal, India: A digital marketplace for machinery, tools, and equipment in India

All participants to the Farm to Fork accelerator get $20,000 in return for 6 percent equity (on a fully diluted basis, issued as common stock). In addition, they get access to Techstars resources for life, access to mentors and potential investors, and the chance to participate in a demo day at the end of the program.

The 2020 virtual cohort kicks off on September 8.

Dear Startups: Kick Off 2020 by Applying to One of These 3 Food Tech Accelerators

If joining a startup accelerator program is in your plans for 2020, it’s never too early to get a jumpstart on the competition. First, if you haven’t already, read up on who should ideally apply for these companies, and why (hint: you shouldn’t be doing it for the money). Then, check out the programs below to see if they fit your company’s goals for growth. Note that some of these application deadlines close soon (like, tomorrow).

We update this list monthly, so if you don’t see what you’re looking for, check back February for a fresh list of programs. 

FoodFutureCo
New York City

NYC-based FoodFutureCo looks for companies it can help move from early product-market phase to the mainstream, with specific focus on plant-based food, agtech, sustainable seafood, and fighting food waste. Plant-based frozen meal maker Zoni Food, ethical food brand Eat Nice, and analytics platform Farm Fare are all past participants of the program, which was founded in 2015.

The five-month-long program looks for companies on track to gross more than $1 million in annual sales. Four to eight startups are chosen for each cohort. Participants receive up to $10,000 (for 4 to 8 percent equity) along with mentorship opportunities and potential follow-on investment.

Applications close December 31, 2019.

Brinc Food Technology Accelerator
Hong Kong

Brinc’s Food Technology Accelerator covers a wide range of what it calls “investment verticals”: agtech, alt protein, cellular agriculture, packaging, food safety, supply chain, and food waste. Startups looking to join the program should have a product-market fit in one of these verticals, along with a defined business model. According to the program website, companies must be willing to incorporate in Hong Kong and, ideally, want to deploy their product or solution in the Southeast Asian market. 

Unlike many programs, Brinc charges a $30,000 participation fee for the program, though this can be deducted from the $80,000 investment Brinc gives each participating company (for 10 to 15 percent equity). Startups also receive mentorship, customized curriculum, access to potential investors, and post-program support. Companies must be present in Hong Kong for six weeks of the program for onsite training.

Applications close February 17, 2020.

Coming Soon . . .

Techstars Farm to Fork
Minneapolis-St. Paul, Minnesota

A partnership with Cargill and Ecolab, Techstars Farm to Fork program looks for startups and entrepreneurs working up and down the food chain, from agtech and manufacturing to food safety, traceability, and waste reduction. Techstars looks specifically for companies using tech to solve problems in these areas, as program alumni like Spoonshot and  Renewal Mill have done.

Chosen participants get a $100,000 convertible note along with mentorship and networking opportunities and access to potential investors. They also get workspace, as relocation to the Minneapolis-St. Paul area is required for the duration of the three-month-long program. 

Applications open on January 6, 2020.

Mark Your Calendars to Apply to These Food-focused Startup Accelerators

Business may be winding down for the year, but it’s never too early to start planning for 2020. If that includes applying to a startup accelerator, there are a few programs to note this month either taking applications right now or in the very near future.

January normally brings a slew of new announcements and application deadlines, so be sure to check back next month for more details, dates, and programs geared towards food-focused startup growth.

FoodFutureCo
Remote/New York, NY

FutureFoodCo works with companies moving from early-product-market phase to early-majority stage (that is, having some mainstream appeal). Focus areas include CPGs, plant-based food (including seafood), agtech, and reducing food waste.

Four to six companies are chosen for each four-month-long cohort. Participants get mentorship opportunities as well as $10,000 and lifelong access to the FutureFoodCo network. Chosen startups don’t have to relocate to NYC but should expect to travel there at points during the program.

Applications are open until December 15, 2019.

TechStars Farm to Fork
Minneapolis-St. Paul, Minnesota

TechStars Farm to Fork accelerator works specifically with companies using technical and digital means to change parts of the food system, from agriculture to supply change to curbing food waste. It counts Renewal Mill, Spoonshot, and EIO Diagnostics among its alumni. 

Relocation is a requirement for this one. The program, which TechStars does in partnership with Cargill and Ecolab, is based in the Minneapolis-St. Paul area, and participants are expected to be there for the three-month-long period. TechStars provides workspace, along with mentorship and networking opportunities, access to potential investors, and a $100,000 convertible note. 

Applications open on January 6, 2020.

Terra
Remote/San Francisco, CA

Terra is a joint effort by startup network RocketSpace and food- and agriculture financing company Rabobank. The program accepts companies up and down the food chain, whether you’re a CPG, agtech startup, or creating sustainable packaging.

At minimum, applicants should be in the seed to Series B stage, have a product, service, or technology already in the market, and have the ability to travel to San Francisco for the program kickoff and Demo Day. Participants spend roughly one month ideating on a pilot and four months executing that pilot, though actual time commitment is determined on a case by case basis with each startup.

Applications typically open in January. Stay tuned for specific dates.