If you’re an aspiring entrepreneur or agtech startup, you know that finding funding and resources to help launch your company or take it to the next level is a key ingredient to success. Fortunately, we recently partnered with AgThentic to produce a database and tool to find the best early stage resource for your startup.
Now, there’s a new resource in town that’s offering funding for free!
4YFN, the startup business platform of Mobile World Capital Barcelona and mobile technology innovation event Mobile World Congress recently unveiled a new €3.6 million ($3.92 million) accelerator program called IMPACT Growth that will offer equity-free funding to agtech startups.
The program is targeting growth-stage startups with a product already on the market. Unlike other funding programs, IMPACT Growth is a remote program that provides equity-free funding. Having to relocate to participate in an accelerator program is often one of the biggest challenges that entrepreneurs face. For some aspiring founders, it can even be a deal-breaker.
The program is also compatible with other accelerators, allowing entrepreneurs to take advantage of multiple business-boosting resources.
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Twenty-eight startups will receive €100k ($108,895) in funding, and four of these will receive up to €250k ($270k) in funding. The best startups will have the opportunity to receive an investment of €1.5 million ($1.63 million) from early-stage mobile technology investors Kibo Ventures and Denmark-based international business development organization Accelerace.
In addition to funding, IMPACT Growth will offer selected startups mentors, technical training, and digital missions around the world.
Although the IMPACT Growth program focuses on a variety of sectors, one of the program’s primary verticals is what it refers to as “Smart Agrifood.” This includes a wide variety of agriculture technologies like precision farming. Partnering with French multinational food and health product maker Danone, this category is looking for startups that will radically change the way we cultivate, monitor, and distribute food. This includes startups targeting problems related to farming, agri-logistics, and food awareness
4YFN, which stands for “4 years from now,” unveiled IMPACT Growth at its 4YFN 2017 event in Barcelona. According to the company, over 19,000 people attended the digital and mobile technology-focused event, including investors and entrepreneurs from around the globe.
As part of the event’s startup pitch competition, London-based agtech startup WeFarm took home an award in the Disrupted by Mobile category, which explored how mobile technology presents a new challenge for traditional industries. The company crowdsources vital agricultural information for farmers in remote areas who may not have the use of the internet.
Mobile World Capital Barcelona is an initiative driving the mobile and digital transformation of society while helping improve people’s lives globally. Its primary mission is to help startups, investors, and corporations connect and create new ventures.
IMPACT Growth is funded by the European Commission’s innovation grant program Horizon 2020, which we wrote about here, but startups from across the globe can apply.
Applications for IMPACT Growth are due May 9, 2017.