Agnition Ventures announces startup accelerator in partnership with Singapore-based Agrifood Futures
The program scouts agricultural technology startups from Agrifood Futures’ global network and supports them with local expertise and potential investments from Agnition to test their product with Kiwi farmers.
Ravensdown's venture arm, Agnition, has partnered with Singapore-based Agrifood Futures to offer Land x Launch™, an accelerator program for overseas startups to launch in New Zealand.
The program scouts agricultural technology startups from Agrifood Futures' global network and supports them with local expertise and potential investments from Agnition to test their product with Kiwi farmers.
Jasper van Halder, Agnition CEO, says its network of pilot farms means startups can quickly trial and scale their technology.
"We've built a community of farmers nationwide who are tech-savvy and hungry for innovative ways to increase efficiency on-farm.
"The difficulty has been spotting emerging technologies in Europe and Asia that will make a real difference here. Agrifood Futures have extensive overseas networks, so this partnership means we can get in early to offer New Zealand as a great proving ground."
The 3-month program is based on similar incubators delivered by Agrifood Futures in Asia and sister company Farmers2Founders in Australia, and offers startups the chance to test and scale their technology with possible investment from Agnition.
Joshua Soo, Agrifood Futures Co-founder and Director, says New Zealand can play an important role in the global mobilisation of new agtech solutions.
"We believe entrepreneurship and innovation can drive major progress for the agricultural sector worldwide, and New Zealand farmers are known for their ready adoption of more efficient practices.
"This partnership with Agnition enables us to better connect innovation throughout the Asia-Pacific region and directly boost farmer tech adoption."
Agnition and Agrifood Futures will announce the accelerator program to the Australasian and global AgTech community during the week of February 17 in Brisbane, during the EvokeAG conference.
Over time, Agnition hopes the partnership will work in reverse, offering Kiwi agtech startups the opportunity to take their product overseas using Agrifood Future's international hubs in Australia, Asia, and Europe and its network of 100+ investors.
How it works
Agrifood Futures leverages its global connections to source overseas startups, which it will shortlist together with Agnition. The selected startups will work with Agrifood Futures to develop a tailored business model for New Zealand's agriculture market, followed by introductions to pilot farmers for testing and validation. Throughout the process, Agrifood Futures and Agnition will provide guidance, market insights, and support, with potential cash investments from Agnition to help the startups.
If the idea proves good enough, Agnition may invest in the company and help with a commercial launch to the New Zealand market.
The value:
1. Supported market entry into NZ: Tailored support for entering and scaling in the New Zealand agricultural market.
2. Land a customer: Agnition provides access to Ravensdown's network of farmer-customers across dairy, sheep, beef, horticulture, and arable sectors.
3. Investment opportunities: Potential equity investment before or after the program from Agnition Ventures and introductions to other co-investors.
4. Global expansion: Use New Zealand as a gateway to A+F's international hubs in Australia, Asia, Europe, and beyond.
About Agnition Ventures
Agnition Ventures is the corporate innovation and investment arm of Ravensdown, New Zealand. Its mission is to develop or invest in scalable AgTech innovations that deliver tangible value to farmers in New Zealand and beyond, driving productivity and sustainability in agriculture worldwide.
About Agrifood Futures
Agrifood Futures is a global accelerator, investor, and tech adoption platform uniting innovators to tackle the planet's food, fibre, and water challenges. As the fastest-growing community of AgriFood innovators in Asia-Pacific, Agrifood Futures operates across three gateway hubs and leverages a global network to help AgTech startups scale internationally and make a lasting impact.
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