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The Spoon

Daily news and analysis about the food tech revolution

incubators

Wells Fargo Picks 5 Indoor Ag Companies for Its Latest Innovation Incubator Program

Five early-stage indoor agriculture companies will participate in the ninth cohort of the Wells Fargo Innovation Incubator (IN2), which works with cleantech companies and entrepreneurs across food and housing sectors. Chosen participants for this cohort will focus on tools and processes that can make indoor farming more environmentally and financially sustainable. 

The Wells Fargo Foundation funds the program, which is co-administered by the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL).

Indoor ag has seen some major milestones and investments in 2021, but whether its a truly sustainable endeavor (financially and environmentally) remains a hotly debated topic. For example, growing greens inside fully controlled environments like vertical farms might cut down on inputs like land and water usage, but an enormous amount of energy is needed to run a farm off fully on artificial lighting. (Greenhouses, because they use natural sunlight, are usually a different story.) Additionally, leafy greens are still the only crop large-scale vertical farms can grow in huge quantities, and from a calorie perspective, salad can’t fully feed a growing world population.

Claire Kinlaw, director of Innovation Commercialization at the Donald Danforth Plant Science Center, said in a statement today that this year’s cohort is “focused on validating technologies that address key challenges in the indoor agriculture industry, including environmentally and financially sustainable ways to deliver light, control growth environments, evaluate environmental impacts and solve the need for crop varieties that are well-adapted for indoor environments.”

Companies chosen for the program address these issues and others:

  • Atlas Sensor Technologies monitors water hardness in real time to reduce waste and cost of water and improve how water softeners operate
  • GrowFlux makes intelligent horticulture lighting via an IoT platform the company says can save 20-30 percent in energy costs
  • Motorleaf specializes in AI for indoor ag in order to give growers information around yields and carbon footprint
  • New West Genetics does genomics-assisted breeding for the hemp industry
  • SunPath uses patented fiber optics tech to improve lighting for indoor farms

All participants will receive up to $250,000 in non-dilutive funding from Wells Fargo. Over a 12- to 18-month period, companies will conduct research and development at NREL and at the Donald Danforth Plant Science Center in St. Louis, Missouri. 

Thailand’s SPACE-F Opens Applications for Its 2020 Accelerator and Incubator Programs

Asia-based food tech startups, take note. SPACE-F, an accelerator and incubator program in Thailand, is now taking applications for Batch-II of its program (h/t Green Queen). The program works with Southeast Asian startups working to improve a number of areas across the the food and be industries.

Batch-II, which officially kicks off in October 2020, will consist of both an accelerator and incubator program.

SPACE-F was founded in 2019, making it a relatively new entrant to the food tech accelerator/incubator space. Program founders NIA, Thai Union PLC, and Mahidol University have partnered with ThaiBev for Batch-II.

The biggest differences between accelerator and incubator programs has to do with the stage of growth participating companies are at. Accelerators tend to work with early-stage companies looking to grow, while incubators tend to host companies that might not yet be ready to commercialize. (Read our full breakdown of the differences here.)

Reflecting those differences, SPACE-F’s program invites companies with compelling prototypes and ideas to apply for its incubator, while startups wanting to join the accelerator should already have a product/technology and customer traction. The accelerator runs four months, and the incubator runs 9–15 months, depending on the specific company. 

All participants will be working to solve challenges in the food industry, though SPACE-F’s range of areas is quite wide. Alt-protein, restaurant tech, manufacturing, novel ingredients, and food safety are just a few of the areas listed on the SPACE-F website. 

Participants will receive equity-free investment (a specific sum isn’t named), mentorship, networking opportunities, and access to SPACE-F’s facilities. That said, SPACE-F notes on its site that because of COVID-19, at least part of the program will take place virtually. As is the case with other startup accelerators and incubators, when and how any in-person sessions will take place will depend on the changing nature of the coronavirus crisis. 

Applications for SPACE-F are open until July 12, 2020.

Chicago

Startup Roundup: Foodtech Incubators to Watch in 2018

While developing food technology has been a priority for many since the beginning of last century, it’s only been in recent years the concept of startup accelerators/incubators has taken hold.

It seems, though, that foodtech is making up for lost time. Startups are everywhere now, from new takes on the meal kit concept to vertical farming platforms to managing pesticide levels. And everyone from Tyson to IKEA to the Institute of Food Technologists (IFT) is getting involved. Last year saw some noteworthy programs from NYC’s Food-X, the student-focused Fund the Food, and Chobani’s incubator, for which applications just closed.

If you missed the application deadline for that last one, fear not—2018 will see many more programs geared towards nurturing the next wave of foodtech business, from the farm to the data center. Here are a few of our favorites to keep an eye on in the coming months:

Yield Lab Accelerator

Since growth of plants and/or animals is a huge part of AgTech, Yield Lab’s program runs for nearly a year, either in St. Lous or Europe. Participants can apply to both. Once selected, each company visits its designated location for two-day sessions that take place six times course of nine months. The Yield Lab provides mentoring and networking opportunities, as well as $100,000 in funds. The program begins on March 6, 2018. The application process for St. Louis is open now. Europe will be announced in the near future, according to Yield Lab’s site.

Techstars’ Farm to Fork

Entrepreneurship network Techstars recently announced its Farm to Fork Accelerator, to be held in Minneapolis-St. Paul this summer. The program invites early- and late-stage startups in AgTech, food safety and waste management, and manufacturing to apply. Ecolab and Cargill have partnered with Techstars for the three-month program, which helps companies with finding mentors, product development, and learning how to communicate with investors. Applications close on April 8 2018.

IFTNEXT

The Institute of Food Technologists (IFT) is still taking applications for its six-week-long IFTNEXT Food Disruption Challenge, which is aimed at helping emerging and investment-ready foodtech startups and entrepreneurs. At the end of the program, IFT will select six finalists (from the 25 participants) to pitch their companies to a panel of judges at the upcoming IFT18 conference. Applications are open until February 8.

TERRA

Tech/startup network RocketSpace teamed up with food- and agriculture-financing company Rabobank to start TERRA, a program is open to a wide range of CPG, AgTech, and foodtech startups alike. Participants head to San Francisco for eight weeks in workshops and mentoring sessions, followed by eight more weeks piloting their businesses. Seed-funded startups are preferred, and applicants’ products should be either in market or ready to launch. Cohort II of TERRA is happening as we speak, but applications are already open for Cohort III.

Food Nest

The Food Nest looks to scale early-stage companies focused on health, wellness, and nutrition to the next phases of their growth. For that, applicants should have at least one proof of concept in market and a run rate between $500,000 and $2 million. The Alameda, CA-based program will select eight to 10 participants from the pool of applicants who will head to program headquarters for four months of curriculum, mentoring, and networking. Companies receive an upfront investment of $40,000 for 5 percent equity in the company. Applications are due by February 28.