NextFarm also hosting leading agricultural venture capitalist for events across Tennessee
MARTIN, Tenn. (Oct. 23, 2013) – The Northwest Tennessee Entrepreneur Center and Memphis Bioworks Foundation are announcing the nine companies selected for the NextFarm Agriculture Innovation Accelerator.
Created in response to the challenge issued by Gov. Bill Haslam to make Tennessee the number-one state in the Southeast for the growth of the agricultural and forestry industries, NextFarm Agricultural Innovation Accelerator is led by a partnership between the Northwest Tennessee Entrepreneur Center and Memphis Bioworks Foundation. The companies participating in the first accelerator program represent leading technologies and innovations related to precision agriculture, animal nutrition, specialty crops, food safety, biobased products and bioenergy. These companies are in the midst of an aggressive development period in preparation for investment pitches in the 1st quarter of 2014. The participating companies include five startups and four growth-track companies.
The five startup companies are:
- AgSmarts is a precision agriculture company dedicated to helping farmers lower operational expenses while increasing crop yields through the deployment of their scalable technology platform.
- Beyond Right Now Technologies is developing high-tech sensors to locate feral hogs, thus reducing the significant crop losses now being experienced by Tennessee farmers.
- Hickory Hydroponics is commercializing a proprietary barley fodder system that leverages the use of existing on-farm assets.
- Stony Creek Colors is a vertically integrated company developing the complete supply chain for replacing synthetic dyes with natural dyes from plants for the textile industry. The supply chain development includes the establishment of a small-farm network throughout the South.
- Secure Food Solutions is commercializing technology developed at Mississippi State University and Agricultural Research Service USDA to make the corn supply safer, while making handling and delivery more efficient in the United States and in the developing world.
The four growth-track companies are:
- Butler Fishery is developing expanded processing for Asian carp to create new markets for commercial fishers and reduce invasive species.
- GrowAgra is building off of current success at producing wheat grass for Whole Foods Market and expanding its processing capabilities.
- Tennessee BioProducts is developing biomass heat producing bricks from hardwood shavings and sawdust.
- Zero Friction is commercializing a proprietary line of cleaning products and industrial lubricants produced with natural vegetable oils.
“These companies represent the kind of agricultural innovation that will be needed to address global issues, while at the same time creating entrepreneurial opportunities locally,” said Carol Reed, executive director of The Northwest Tennessee Entrepreneur Center. “We are excited to provide an opportunity for investors to see these exciting companies.”
In addition, in order to raise the visibility of NextFarm and offer Tennessee universities and agricultural groups an opportunity to learn about investment in new innovation, NextFarm, in partnership with Life Science Tennessee (www.lifesciencetn.org), is hosting Ron Meeusen, founding partner of Cultivian Ventures, on November 5 and 6 to provide insight into global investment trends in new agricultural technology. Ron has 30 years of experience in bringing new technologies and products to market. He has led research and development for major corporations in agricultural chemicals, field crop and vegetable genetics and breeding, animal health, novel foods and industrial materials. He also coordinated the development of a strategic plan for agriculture for the State of Indiana, which led to the realization of the major gap in venture funding in agriculture. His firm, Cultivian Ventures, was set up to address this gap. Ron has been a frequent speaker at conferences, a consultant to Federal policy on biotechnology regulatory issues, and active in industry trade groups on key issues such as European acceptance of new food technologies. The scheduled events are as follows:
- Luncheon on Tuesday, November 5 starting at 11:00 a.m. in Nashville, Tenn., at Bradley Arant Boult & Cummings. More information at www.lifesciencetn.org.
- Seminar on Tuesday, November 5 at 5:30 p.m. at University of Tennessee at Martin, in Martin, Tenn. More information at www.ntecconnect.com.
- Breakfast on Wednesday, November 6 at 7:30 a.m. at Dyersburg Chamber of Commerce in Dyersburg, Tenn. More information at www.ntecconnect.com.
“Agriculture is a vital part of Tennessee’s economy, and by providing entrepreneurial expertise, we’re helping the industry grow and innovate while helping local entrepreneurs scale their businesses right here in Tennessee,” said Steve Bares, president and executive director of Memphis Bioworks Foundation.
This project is funded under an agreement with Launch Tennessee and/or the State of Tennessee.
About Northwest Tennessee Entrepreneur Center
The Northwest Tennessee Entrepreneur Center (NTEC) is a public-private organization created as one of the nine regional accelerators established through Tennessee Governor Bill Haslam’s INCITE initiative. NTEC serves the nine counties of Benton, Carroll, Crockett, Dyer, Gibson, Henry, Lake, Obion, and Weakley by providing mentoring, education and training, strategic and technical support, and assistance identifying sources of capital for entrepreneurs with the goal of producing new jobs and steady economic growth within the nine-county area. For more information, visit www.ntecconnect.com, Facebook at www.facebook.com/ntecconnect or follow @NTECconnect on Twitter.
About Memphis Bioworks Foundation
Memphis Bioworks is the Mid-South’s go-to organization for creating companies, jobs and investments in bioscience and sustainability. A visionary community leader, Memphis Bioworks has a well-established record of sparking new levels of economic vitality by investing in entrepreneurs, building state-of-the-art labs and facilities, and training the next generation of workers. For more information, visit www.memphisbioworks.org, Facebook at www.facebook.com/MemphisBioworks or follow @MemphisBioworks on Twitter.