NEWS RELEASE: California venture, innovation firm to expand to Midwest, partner with Indiana-based entities, advance livestock and plant sciences health
California venture, innovation firm to expand to Midwest, partner with Indiana-based entities, advance livestock and plant sciences health
SVG Partners expands THRIVE AgTech into livestock and agbiosciencesin Midwest with newest partners National Pork Board, AgriNovus Indiana, Elanco Animal Health, Purdue Foundry and with long-term partner Land O’Lakes
SAN FRANCISCO and INDIANAPOLIS – SVG Partners, a California-based venture and innovation firm, announced today the expansion of its West Coast-based THRIVE AgTech program to the Midwest to focus specifically on animal health and support agriculture advancements.
The expanded accelerator follows the Forbes AgTech Summit held in Indianapolis this fall. The collaboration will build a bridge between THRIVE Silicon Valley and the Midwest with new corporate partners including the National Pork Board, AgriNovus Indiana, Elanco Animal Health, long-term THRIVE partner Land O’Lakes, Inc. with startup support from Purdue Foundry.
With this expansion, THRIVE aims to develop a targeted pipeline of livestock management and animal health startups, validating and scaling new technologies for the livestock vertical and expand its support of emerging plant science and biotechnology startups.
“Monitoring animal health and preventing animal disease outbreaks is vital to our food supply chain,” said SVG Partners founder and CEO John Hartnett. “We look forward to leveraging our new partnerships with the National Pork Board, Agrinovus Indiana and Elanco Animal Health, as well as our existing partner Land O’Lakes to providestrategic and technical expertise and key resources to startup companies developing technologies for livestock producers.”
SVG Partners launched the THRIVE Accelerator in 2014 to accelerate technology for agriculture with early partners including Taylor Farms, Driscoll’s Berries, JV Smith and western growers. With the Forbes AgTech Summit, SVG Partners recognized the opportunity to expand THRIVE into the Midwest in order to more readily address the geography’s robust livestock sector and biotechnology expertise.
“Working with new local partners in Indiana, we will be able to build on the success of our West Coast-based accelerator in order to deliver targeted technology to livestock farmers in the region and beyond,” Hartnett said.
THRIVE is pleased to welcome the National Pork Board to its AgTech Venture & Innovation Platform. The National Pork Board, funded by more than 60,000 U.S. pork producers and pork importers, centers its industry’s work on reinforcing pork’s role as a sustainable, responsibly raised protein.
“We look forward to working closely with THRIVE to accelerate animal health technologies. This partnership aligns well with our producer’s ongoing efforts to build upon our foundation of providing a healthy, safe, environmentally sustainable product for the food supply chain,” said Bill Even, CEO of the National Pork Board. “Over the past several decades, pork producers have decreased the carbon footprint and both land and water usage. Technology is critical to driving sustainable, efficient production through a commitment to environmental sustainability and animal welfare.”
Elanco, a leading animal health company with its headquarters in Greenfield, Indiana, also joins the program. The company works to provide veterinarians, food producers, and pet owners with the tools needed to help animals live healthy lives.
“We are pleased to see THRIVE AgTech expand into the Midwest, especially at a time when Indiana’s AgBioScience innovation ecosystem is flourishing,” said Aaron Schacht, executive vice president of Innovation, Regulatory and Business Development at Elanco. “We believe programs such as THRIVE can provide a valuable and complementary path for the development of next generation technologies in animal health. We’re looking forward to the opportunities this will bring.”
The program expansion will bring together existing and new partnerships with corporates, academia, investors and startups to foster new AgTech opportunities for the region’s economy.
“Our region is home to a large concentration of livestock producers and animal health-focused corporations, and equally strong in its advancements in the plant sciences,” said Beth Bechdol, president and CEO of AgriNovus Indiana. “We are delighted to bring SVG Partner’s resources and expertise to the Midwest to support the vision of making Indiana the home of globally recognized agbioscience innovation.”
Purdue University is Indiana’s land-grant university with a nationally ranked College of Agriculture and College of Veterinary Medicine. The Purdue Foundry is a startup accelerator that manages the university’s entrepreneurial ecosystem.
“The technologies coming out of the outstanding research in agriculture, veterinary medicine and across campus support a strong pipeline of technology commercialization and startup creation,” said Greg Deason, senior vice president of entrepreneurship and place making for Purdue Research Foundation. “We are excited by what THRIVE will bring to the Midwest in advancing the entire region’s growth in the agrosciences and agbiosciences.”
Existing THRIVE partners such as Corteva, EY and Trimble already have significant resources in the Midwest and will help to deepen THRIVE’s activity in row crop production agriculture activity there.
As another strategic geographical partner, Purdue Foundry will help to root THRIVE expansion in the Midwest by connecting university talent with THRIVE’s network and resources.
A THRIVE partner since 2016, Land O’Lakes, Inc. is committed to modernizing agriculture through digitalization.
“Over the past several years, we have worked to develop a suite of digital tools through our Answer Tech®platform to help hundreds of row crop farmers optimize their operations by increasingyield potential and reducing risk,” said Teddy Bekele senior vice president and chief technology officer at Land O’Lakes. “We look forward to working with THRIVE and other Midwest partners to deliver targeted innovation to the thousands of dairy producers we work with in the region.”
THRIVE’s expansion into the Midwest was announced today (Thursday, Nov. 29) during AgriNovus’ fourth annual Agbioscience Innovation Summit in Indiana.
For more information about THRIVE, visit www.thriveagtech.com.
About SVG Partners
Since 2011, SVG Partners has been building a global AgTech innovation platform that accelerates, invests, and works with entrepreneurs, investors, and Fortune 500 food, agriculture, and technology corporations. Founded in 2014, THRIVE AgTech’s mission is to solve key industry challenges, test technologies in the field and across the supply chain, and build partnerships across the ecosystem in order to shorten the time it takes to bring innovation to market. SVG Partners is based in Silicon Valley, California.
About National Pork Board
The National Pork Board has responsibility for producer-funded research, promotion and consumer information projects and for communicating with pork producers and the public. Through a legislative national Pork Checkoff, pork producers invest $0.40 for each $100 value of hogs sold. Importers of pork products contribute a like amount, based on a formula.
Founded in 1954, Elanco provides comprehensive products and knowledge services to improve animal health and food-animal production in more than 90 countries around the world. We value innovation, both in scientific research and daily operations, and strive to cultivate a collaborative work environment for more than 5,800 employees worldwide. Together with our customers, we are committed to raising awareness about global food security, and celebrating and supporting the human-animal bond. Our worldwide headquarters and research facilities are located in Greenfield, Indiana.
About AgriNovus Indiana
AgriNovus Indiana is the state’s initiative focused on advancing the agbiosciences sector as a nationally recognized leader through education, research and talent development; strategic collaborations among corporations, industry associations, government and universities; the creation and support of new companies; and branding and targeted promotions to elevate the sector. AgriNovus Indiana is part of the Central Indiana Corporate Partnership, an effort dedicated to the region’s continued prosperity and growth. To learn more, visit agrinovusindiana.com.
About Purdue Foundry
The Purdue Foundryis an entrepreneurship and commercialization accelerator in Discovery Park’s Burton D. Morgan Center for Entrepreneurship whose professionals help Purdue innovators create startups. Managed by the Purdue Research Foundation, the Purdue Foundry was co-named a top recipient at the 2016 Innovation and Economic Prosperity Universities Designation and Awards Program by the Association of Public and Land-grant Universities for its work in entrepreneurship.For more information about funding and investment opportunities in startups based on a Purdue innovation, contact the Purdue Foundry at email@example.com.
About Land O’Lakes
Land O’Lakes, Inc., one of America’s premier agribusiness and food companies, is a member-owned cooperative with industry-leading operations that span the spectrum from agricultural production to consumer foods. With 2017 annual sales of $14 billion, Land O’Lakes is one of the nation’s largest cooperatives, ranking 216 on the Fortune 500. Building on a legacy of more than 97 years of operation, Land O’Lakes today operates some of the most respected brands in agribusiness and food production including LAND O LAKES® Dairy Foods, Purina Animal Nutrition, WinField United and Land O’Lakes SUSTAIN. The company does business in all 50 states and more than 60 countries. Land O’Lakes, Inc. corporate headquarters are located in Arden Hills, Minn.
Emily Breslin, SVG Partners
Colleen Parr Dekker, Elanco