The SproutX Accelerator is Australia’s first agtech focused program for early stage startups. By gathering the best entrepreneur mentors, venture capitalists, agribusiness and government in the one place, we offer startups the opportunity to create world class growth companies.
-Applications will open January 28, 2019-
With the backing of our $10 million venture fund we are offering startups:
$40K in capital funding
$40,000 in capital funding
Ongoing venture capital backing after the end of the Accelerator
Mentoring from the world’s top agtech experts
Six months office space in our agtech co-working space
Intro to NFF, MLA & RIRDC
Introductions to Australia’s agricultural institutions eg. NFF, MLA and RIRDC
Media & PR Access
Nationwide media & PR access via our partners & supporters
Distribution opportunities from Australia’s largest Agri brands including Ruralco and Findex
Frequently Asked Questions
We are seeking the classic trio of traction, team and technology- in that order. Team and technology are obvious, however traction can come in the form of pre-sales, sales, consumer interest, active customers and even letters of intent.
Just start it! There isn’t any magic to startups, it’s a lot of practical hard work and hustling.
We are seeking 8% of each company coming into the SproutX Accelerator Program in exchange for the 40k of capital and SproutX services and support. After the end of our 6 month Accelerator program, startup companies will continue to be backed by our venture capital fund. See below for further details.
Teams are able to use the capital as they wish, however capital supplied will be based on milestones being agreed upon and achieved with program mentors.
No, you are able to work from your home town/city/region in Australia. We fly teams down to Melbourne every 5-6 weeks to complete workshops with customers, corporates and investors. If you are located in Melbourne the expectation is that you work from the SproutX head office in the CBD.
While you do not have to be an Australian citizen, your business must be domiciled in Australia and during the program you must be located on the continent. If you are from overseas you will be required to move to Australia during the program.
The Accelerator requires at least one founder in the team to be working full time. Startup success is about commitment and part time founders are unlikely to be successful.
With the help of our partners Artesian Ventures, the SproutX Venture Capital Fund provides follow-on investment for startup companies after the end of the Accelerator Program. For example, when a company completes the Accelerator program and then receives say $150,000 in funding from 3 angel investors in a ‘seed round’ the fund will then ‘follow’ that investment and match the $150k and the terms of that investment. The fund has the ability to match investments by up to $1 million thereby providing support to entrepreneurs in funding rounds on an ongoing basis.
Yes you can, please use the calendar below to book in a session. One session per team only, make sure you turn up, if you miss your session unfortunately you can’t book another.