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SVG Ventures | THRIVE announces partnership with ICL Planet Startup Hub on THRIVE Europe Challenge
SVG Ventures | THRIVE announces partnership with ICL Planet Startup Hub on THRIVE Europe Challenge

Silicon Valley, CA. US., May 5th, 2021, SVG Ventures | THRIVE, a leading global Agrifood Venture and Innovation Platform headquartered in Silicon Valley, announced a partnership today with ICL Planet Startup Hub, headquartered in Tel-Aviv, Israel. The partnership centres around the ‘THRIVE Europe Challenge,’ a program to seek out the most innovative and sustainable Agri-Food Tech start-ups across Europe and Israel who are solving some of the critical challenges facing the global agri-food industry.

“We are delighted to welcome ICL Planet Startup Hub as headline partner for our THRIVE Europe Challenge, said John Hartnett, CEO and Founder SVG Ventures|THRIVE.  Progressive corporations like ICL Group are proactively looking across the globe for innovative solutions to address the world’s biggest challenges and our collaboration on the Europe Challenge will help identify those emerging and disruptive technologies.  Furthermore, we are excited to strengthen and expand our partnerships within the Israeli agriculture ecosystem.”

The inaugural THRIVE Europe Challenge is a program for early-stage European and Israeli AgTech and FoodTech start-ups and is part of THRIVE’s Global Initiative. This initiative launched with the USDA in 2020 aims to recognize and promote early-stage startup innovators that positively impact different regions of the world. The European Challenge program will be the fourth in the series and follows regional challenges held in Australia, Canada and Africa.

With society and the environment facing unprecedented challenges, ICL is demonstrating its firm commitment to accelerating the transition to a sustainable Agri-food system. Their open innovation approach and new ‘ICL Planet Startup Hub’ in Tel-Aviv offer a welcoming environment for leading startups who are leveraging cutting edge technology to improve sustainability. ICL Planet Startup Hub have identified a number of ‘unmet needs’ in the fields of Crop Nutrition (such as bio-stimulants and next generation fertilizers), Food Tech (such as alternative protein and plant based functional ingredients) and Plant Breeding which they’re particularly interested in. Collaborating on the THRIVE Europe Challenge will help ICL Planet to identify the next generation of startups disrupting traditional agriculture in these areas and more.

THRIVE and ICL Planet Startup Hub will support hundreds of founders over the coming months in advance of the finals on October 7. The winner will receive the THRIVE Europe Challenge Award and advance to the finals of the award winning Global THRIVE Accelerator program with the opportunity to be selected for the THRIVE VIII cohort in Silicon Valley, investment and opportunity to pitch at the world renowned Forbes|THRIVE Demo Day at the Forbes|THRIVE Future of Food Summit. Startups will also compete to get the chance to interact with senior management of ICL Planet who will participate in the judging process and help mentor the finalists.

The European Challenge is closely aligned to the goals of the European Green Deal, specifically the Farm to Fork strategy which aims to accelerate the transition to a sustainable food system. The EU has earmarked €10 Billion alone to aid this transition under the Green Deal.

As a global leader in agriculture, food, and engineered materials, ICL Group is constantly developing impactful solutions to improve the quality of life for millions worldwide through its unparalleled R&D infrastructure. ICL Planet Startup Hub is the vehicle in which ICL chooses to work with innovative companies, synergize with their novelty, and short-cut their way to global play. The Hub enables exceptional ideas, technologies, and innovators in the Crop nutrition & Food domains, to immerse into the growth points and cross points of ICL.

Speaking about the collaboration with THRIVE, Hadar Sutovsky, VP External Innovation & General Manager of ICL Planet said “ICL Planet seeks to invest & grow game-changing technology companies that address critical global needs and intend to bring positive environmental impact. Together with THRIVE, we expect to leverage our unique value proposition to the global ecosystem, to empower early and more matured startups to upscale their products and optimize their market fit via our dual-track plan that includes a pilot runway track and a market highway track, accompanied with a service envelope and investment opportunities across the startup lifecycle. I see a great opportunity for synergy with Thrive and look forward to catalyse the ICL innovation mechanism.”

SVG Ventures | THRIVE are seeking new investments across Europe and Israel having invested in 7 European and 2 Israeli start-ups to date. Their relationships with leading corporates is a big draw for start-ups when applying to the program as is their relationship with Forbes Media with whom they partner for their annual cohort Demo Day. The THRIVE innovation platform has a proven record of fostering collaboration between start-ups and corporates such as the recently announced $140m investment and partnership between Driscoll Berries and vertical farming AgTech unicorn, Plenty.

 

Contact info

For press queries, please contact Jessica Pham, Marketing & Events Manager at: jessica.pham@svgventures.com

About SVG Ventures | THRIVE

SVG Ventures | THRIVE is the leading global Agrifood investment and innovation platform headquartered in Silicon Valley, and comprised of top agriculture, food & technology corporations, universities, and investors. With a community of over 5,000 startups from 100 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. SVG’s existing global partners include Media Partner Forbes and leading government, agriculture, and technology corporations such as Corteva, Driscoll’s, FCC, Kubota, Land O’Lakes, Trimble, Taylor Farms, Valmont, Yamaha Motor Ventures and Wilbur-Ellis.

Crunchbase recognizes SVG Ventures as the most active AgTech investor in the world with a portfolio count of 40 investments in the space.

About ICL Group

ICL Group Ltd. is a leading global specialty minerals and chemicals company that creates impactful solutions for humanity’s sustainability challenges in global food, agriculture, and industrial markets. ICL leverages its unique bromine, potash and phosphate resources, its passionate team of talented employees, and its strong focus on R&D and technological innovation to drive growth across its end markets.  ICL shares are dually listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL).  The company employs over 11,000 people worldwide, and its 2020 revenues totaled approximately $5.0 billion.

 

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