(Regina, SK – Weds., Oct. 26, 2022) – Today, the AGTECH ACCELERATOR, founded by Cultivator powered by Conexus (Cultivator), Emmertech, and Economic Development Regina (EDR), shared the results of its inaugural cohort, which saw unprecedented success, in the first half of 2022, including:
- Raised $21.9 million in private capital
- Generated $9.84 million in revenue
- Received $14.4 million in public funding
- Creation of 32 net new jobs
- Collectively had 283 mentorship sessions
- Developed 34 patent applications
“What started as an idea and a one-time agtech event (24 Hour Startup Agtech) has blossomed into Canada’s most active and impactful agtech accelerator in less than a year,” said Jordan McFarlen, Incubator Manager, Cultivator powered by Conexus. “The magic mix of venture capital, accelerator programming, mentorship, and expansive industry connections have created an unfair advantage. We are blown away by the early wins in year one. We can confidently say companies participating in our AGTECH ACCELERATOR program raise significant amounts of capital and generate significant revenue. We’re extremely proud of the founder experience we’ve created and most importantly proud of the founders for the amazing business outcomes they’ve achieved.”
“The AGTECH ACCELERATOR has not only connected Emmertech to the best and brightest agtech companies in Canada and the UK, but it’s also a fantastic sector-specific program that brings unparalleled value to our early-stage portfolio companies,” said Sean O’Connor, Managing Director of Conexus Venture Capital Inc. and Emmertech. “The program is the catalyst that unites agtech ecosystems across Canada and plays a key role in putting Canada on the map as a global leader in this space. The biggest problem in agtech across Canada is the lack of dialogue between the innovators and industry. The AGTECH ACCELERATOR solves this problem as it creates constant and sustained collisions between the founders and their potential customers, partners, and ecosystem supporters.”
The AGTECH ACCELERATOR brings together both agriculture and technology to accelerate the growth of Canadian agtech startups built to solve global problems. It is a venture-backed accelerator program built with founders and farmers as the foundation. The inaugural cohort 1 consisted of 16 companies from across Canada and the UK. The program ran for 3-months and included weekly virtual sessions and two, one-week in-person sessions. Throughout the 3 months, the cohort focused on building their companies by connecting with other founders, mentors, guest speakers, partners, and community members across North America. Here’s what a few cohort 1 participants had to say:
“It’s worth every second of time and I am thrilled to have participated.”
“There may never be another opportunity in your career to participate in a program where you can meet and pressure test your ideas with other founders, an accelerator team, community members, and investors, all in the space of a few short months. This accelerator will help you and your business grow.”
Helping support the growth of Canadian agtech is the AGTECH ACCELERATOR’s Advisory Council and key program partners including Innovation Saskatchewan, Prairies Economic Development Canada, Innovate UK, Glacier Farm Media Discovery Farm, University of Saskatchewan, University of Regina, and Saskatchewan Polytechnic.
“By focusing resources into areas of our province’s natural economic strengths, we feel strongly that we can establish Saskatchewan as a world-class agtech hub,” said Jeremy Harrison, Minister Responsible for Innovation Saskatchewan. “Funding the AGTECH ACCELERATOR program accelerates game-changing ag innovation, further positioning Saskatchewan as a premier destination for agtech entrepreneurs.”
“Alongside Cultivator and Emmertech, EDR is proud to be a founding partner in the AGTECH ACCELERATOR, serving as a critical link between the accelerator and industry, and leveraging new partnerships that continue to advance the accelerator’s important work. Regina’s economic future relies on collaboration, innovation, and the ability to leverage our strengths, and this accelerator allows us to achieve all three,” said Chris Lane, CEO of Economic Development Regina.