US-based, agriculture-focused investment and digital media platform AgFunder is set to form an agriculture and food technology-focused accelerator in Singapore in partnership with Rocket Seeder, AgFunder News has reported.
The Grow accelerator will run alongside two other AgFunder initiatives centred on Southeast Asian markets: a $50m venture capital fund dubbed AgFunder Asia AgriFood Innovation Fund that first emerged in April 2019, and an agriculture intelligence and research innovation initiative labelled AFN Asia.
Grow will run two programs a year, each lasting three-months, with support from government enterprise development agency Enterprise Singapore and the country’s Economic Development Board. Portfolio companies will also receive tailored training and introductions to experts.
AgFunder hopes its new initiatives will help build a vibrant ecosystem for agriculture-focused technologies in Southeast Asia, drawing upon both local talent and advancements from elsewhere.
Christine Pitt, director and co-founder of Grow, said: “Startups taking part in the Grow program who are at an early stage will leave with refined business models, a developed market value proposition, identified and targeted customers, and [will be] prepared to get funded for the next stage of their development.”