TERRA, a non-equity-based accelerator program, is unique in its approach to acceleration by focusing on startups that are ready to scale their businesses, as opposed to those at the proof of concept stage refining their pitches for seed funding.
It executes this focus by partnering with established food and agriculture businesses that work with the cohort of startups to co-develop products, adapt technologies to specific parts of the industry, become customers, and discover new uses for technology.
These corporate partners include Mexican sugar producer Beta San Miguel, Australian grain handler GrainCorp, ingredient company Griffith Foods, food processor OSI and Tate & Lyle’s ingredient business, and this year, Meat & Livestock Australia joins the group that’s worth over $100 billion in annual revenue.
It’s a valuable program for the corporate partners, according to Rabobank’s Eline Boot, Head of TERRA “Where they may have spent significant budget on R&D and resources on something that might not meet expectations, you can invest in a platform that delivers key learnings and tangible outcomes in a few months through the pilots with the startups alongside learning from the other corporates,” she says.
AgFunder Co-Investment Fund III is now open for investment. Closing June 15, Spots are limited.
TERRA is now accepting applications to join the 4 month program that is predominantly virtual and hence open to global candidates; although Kick-off and Demo Days take place in San Francisco. Further, pilots with corporates will typically take place at the corporate premises or in the field.
As well as access to corporate collaborators without any equity dilution, startups will also receive mentorship from TERRA’s network, and ongoing support from Rabobank Food & Agriculture experts including access to their research reports.
“We were selected for TERRA Cohort II in 2018 and conducted two incredible pilots. Taking this to the next level, one of our corporate collaborators is now a key strategic partner and investor. We’re very proud and grateful to be a part of this community,” said Dan Kurzrock, CEO and cofounder of ReGrained
Hundreds of global startups have applied to TERRA including the following who have been selected for past cohorts; ReGrained, Impact Vision, Miyoko’s Kitchen, TE-FOOD and Zymtronix. Cohort III’s results include Graincorp and TE-FOOD’s launch of Bock Chain, successfully tackling food supply chain traceability for the beer industry using blockchain to capture the journey from seed to can. The collaboration of Impact Vision and BSM in Cohort I resulted in a commercial partnership after developing a hyperspectral imaging technology that detects non-metal foreign objects in sugar processing.
“Before joining TERRA, Provenance was an 8 person startup and we were mostly based in the UK, with just UK based clients. However now, we have now doubled in size and also now have international clients and a lot more recognition,” said Jessi Baker, CEO and Founder of Provenance.
Apply to TERRA by Sunday, May 12 11:59 pm PST.
*This post is sponsored by TERRA, an AgFunder Network Partner. Find out more here.*