Irish animal feed producer Alltech is launching a new accelerator programme in Dublin for agritech startups.
The Pearse Lyons Accelerator, which is being launched in partnership with Dublin-based Dogpatch Labs, is a three-month programme for 10 startups in areas like nutritional sciences, 3D printing, drones, AI, sensors, and robotics.
“Alltech’s roots are in entrepreneurial innovation, and it’s an exciting time to be in agriculture,” said Dr. Pearse Lyons, founder and president of Alltech, which has revenues of over $2 billion.
In the first half of 2016 agritech funding deals reached $1.75 billion, showing a growing market but agritech startups lack a clear route to market, according to Alltech.
“Alltech is one of the few truly global companies positioned to assist in opening doors, such as routes to market and global market access,” said Aidan Connolly, chief innovation officer at Alltech.
Participating startups will be based at Dogpatch Labs for three month, receive €15,000 along with mentoring and help with product development ahead of a pitch day for possible investment. Applications close on December 11.
There will also be the opportunity to pitch at the ONE: The Alltech Ideas Conference, an agriculture business conference held in Kentucky in May of next year.
“This program will provide a unique environment for agri-tech startups to drive sales and secure investment,” said Dogpatch managing director Patrick Walsh, “and is proof of Dogpatch Lab’s ability to provide mentoring and resources for founders as we are uniquely connected to the startup ecosystem in Europe.”