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SVG Ventures|THRIVE & Shell Launch Innovation Challenge to Accelerate Climate-Smart Agriculture Practices

LOS GATOS, CA, September 22 2022 – SVG Ventures|THRIVE (THRIVE) and Shell have partnered to launch the Climate-Smart Agriculture Challenge, a challenge focused on identifying and supporting innovators who are driving the global transformation to decarbonize the agricultural sector.

Eligible participants in the Climate-Smart Agricultural Challenge will propose novel technologies and solutions with the potential to meaningfully reduce emissions in the agricultural sector, which is responsible for over 18% of global emissions. Relevant technology solutions include:

  1. solutions that promote carbon sequestration and avoid emissions while improving soil health;
  2. solutions to improve farm connectivity through advanced farm management systems to provide access to carbon markets and carbon financing; and
  3. solutions that measure and quantify soil carbon, soil health, and greenhouse gas emissions.

Shell will leverage THRIVE’s expansive global ecosystem of start-ups and corporate partners during the competition, and the challenge finalists will pitch their ideas to a panel of THRIVE and Shell experts in March 2023. At least one winner will be selected and receive up to $100,000 in seed funding towards developing a proof of concept of their solution.

“The solution to the climate crisis will be driven by innovation and open collaboration across the broader innovation ecosystem,” said John Hartnett, Founder & CEO SVG Ventures|THRIVE. “We’re delighted to be a part of Shell’s journey on their mission to achieve net zero by 2050.”

Decarbonization of the agricultural sector is critical given its position at the nexus of food security, energy use, and climate. Research within the agricultural sector is a focus of Shell’s nature-based solutions business, which works to invest in, protect, and enhance natural ecosystems that capture carbon dioxide emissions, benefit local communities, and improve biodiversity. More sustainable agricultural practices and farming techniques that store carbon in soil can deliver emission reductions and have the potential to generate high quality carbon offsets credits.

“Reducing emissions from the agricultural sector is one of our most pressing challenges.” explains Julie Ferland, Vice-President for Innovation Excellence at Shell. “We are excited to partner with Thrive to identify game-changing innovations in this sector which Shell can meaningfully help de-risk. This decade is critical to advance the technology that will help reduce the sector’s emissions and enable agriculture as an important sink to collect and store carbon dioxide.”

In addition to initial seed funding, winners will be joining the Shell GameChanger accelerator in 2023. The winners of this challenge will also gain brand recognition through THRIVE media channels and selected applicants will be given placement in the award-winning THRIVE Accelerator Program in 2024. In addition, Shell will explore opportunities for relevant participants to pilot their technology within Shell operations.

Start-up and scaleup innovators worldwide are eligible to compete. To learn more about the Climate-Smart Agricultural Challenge and the selection criteria, go to: https://thriveagrifood.com/shell-challenge/.

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 8,000 startups from over 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 global partners include Media Partner Forbes and leading government, agriculture, and technology corporations such as Alberta Government, Old’s College, Calgary Economic Development, Corteva, Driscoll’s, FCC, BASF, Kubota, Land O’Lakes, Trimble, Taylor Farms, Bayer, ICL, Nutrien, Intel, Valmont, UFA, Yamaha Motor Ventures and Wilbur-Ellis. Learn more at www.thriveagrifood.com.

About Shell
Shell is a global group of energy and petrochemical companies with more than 80,000 employees in more than 70 countries. We use advanced technologies and take an innovative approach to help build a sustainable energy future. For more than 100 years, Shell has been shaping the energy industry. Today we continue to invest in innovation and entrepreneurship, both inside and outside Shell. Find out more about our approach to entrepreneurship and innovation at https://www.shell.com/gamechanger and https://www.shell.com/shellventures.

Media contacts

Alycia Smith
Marketing and Events Manager, SVG Ventures|THRIVE
Alycia.smith@svgventures.com

Shell USA Media Relations
shellusmedia@shell.com

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