The THRIVE Midwest Challenge is a pitch competition for startups developing ag biotechnology, livestock, and animal health and digital crop technology relevant for Midwest farmers and producers.

Indianapolis, IN., (AgPR) September 19, 2019— Today SVG Ventures and Forbes announced SwineTech, an Iowa-based startup, and BinSentry a Canadian-based startup are both winners of the THRIVE Midwest Challenge and recipients of the 2019 THRIVE-Forbes Innovation Icon Award at the Forbes AgTech Summit in Indianapolis. This is the second time this year that Forbes and SVG Ventures have presented awards to companies with best emerging technologies focused on advancing the future of food and agriculture.

The THRIVE Midwest Challenge is a pitch competition for startups developing ag biotechnology, livestock, and animal health and digital crop technology relevant for Midwest farmers and producers. The THRIVE Challenges provide startups with an opportunity to showcase their solutions before an audience of investors, corporate partners, and local and national media.

Impressive pitches, extensive domain expertise, and scalable market growth created a uniquely difficult winning decision for the THRIVE Midwest Challenge judges. The winners were determined ultimately for the refined technological advancements and growth potential each brings to the agtech industry. SwineTech Inc. is an agtech and animal health company that uses voice recognition in its SmartGuard™ device to innovate farrowing operations for the swine industry. BinSentry Inc. is reinventing antiquated feed bin monitoring and inventory data systems with IoT and powerful supporting software that is applicable across agtech sectors and other relevant industries. Both SwineTech and BinSentry will receive a coveted spot in the THRIVE VI Accelerator 2020 with a $100,000 investment from SVG Ventures, plus an advertisement in an upcoming issue of Forbes magazine and the opportunity to present at Forbes' Under 30 Summit in October.

SVG Ventures Founder and CEO John Hartnett and ForbesLive SVP Sherry Phillips presented the awards during day two of the summit. "We are delighted with the evolution of the Forbes-SVG Ventures partnership in advancing the future of Food and Agriculture," Hartnett said. "This year, the THRIVE Midwest Challenge Program received eighty-nine applications from twenty-six countries. Five startup finalists were selected to pitch live on stage." John Hartnett affirmed, "The winners, SwineTech and BinSentry, provide significant technological advancements that will play a key role in optimizing operational efficiencies for pork producers and midwest farmers.""The 2019 THRIVE-Forbes Innovation Icon Award honors those helping to bring solutions to the marketplace that will move the world forward," said Sherry Phillips, SVP of ForbesLive. "SwineTech and BinSentry are both gamechangers for the industry and true innovators. They're incredibly deserving of this honor and we look forward to showcasing them at our Under 30 Summit this fall and in an advertisement in our magazine."

Judges for the competition included Rachelle Galvin, SVG Ventures THRIVE Midwest Program Director, Neal Gutterson Senior Vice President, Chief Technology Officer of Corteva Agriscience™, and Chloe Sorvino, Staff Writer, Forbes Magazine. The THRIVE companies that competed on stage at the Forbes AgTech Summit were Advanced Animal Diagnostics, BinSentry, GroGuru, SwineTech, and 3 Bar Biologics.

THRIVE VI Applications Open

Applications are currently open for THRIVE's sixth accelerator program. The THRIVE VI Accelerator program will take place over four months from February to June and culminate at the Forbes AgTech Summit June 2020. The application deadline is October 31st, 2019. To apply, please visit the THRIVE website.

About Forbes AgTech Summit

The Forbes AgTech Summit convenes the world's biggest agricultural leaders, investors and entrepreneurs looking to find solutions for some of the world's most critical food and agricultural challenges. Key speakers at the second annual Forbes AgTech Summit in Indianapolis include Steve Forbes, Chairman & Editor-in-Chief of Forbes; John Hartnett, Founder & CEO, SVG Ventures and THRIVE AgTech; and Indiana Governor Eric J. Holcomb. For more information, please see the press release here.

About SVG Ventures-THRIVE Innovation Platform

SVG Ventures-THRIVE is the leading AgriFood innovation ecosystem, comprised of top agriculture, food & technology corporations, universities and investors. With a community of over 2,000 startups from 82 countries, the THRIVE platform invests, accelerates and creates unparalleled access for entrepreneurs to scale globally to solve the biggest challenges facing the food and agriculture industries. AgFunder recognizes SVG Ventures-THRIVE as the "Most Valuable AgriFood Platform in the World."

THRIVE was launched in 2014 by Silicon Valley Global Ventures (SVG Ventures), a venture, innovation, and investment firm based in Silicon Valley, CA. For more information, please visit www.thriveagrifood.com.

About Forbes

The defining voice of entrepreneurial capitalism, Forbes champions success by celebrating those who have made it, and those who aspire to make it. Forbes convenes and curates the most-influential leaders and entrepreneurs who are driving change, transforming business and making a significant impact on the world. The Forbes brand today reaches more than 120 million people worldwide through its trusted journalism, signature LIVE events, custom marketing programs and 40 licensed local editions in 70 countries. Forbes Media's brand extensions include real estate, education and financial services license agreements. For more information, visit: ForbesMedia.com.