MagGrow commences 2016 Thrive Accelerator Programme in California
18 April 2016
Pictured outside NovaUCD is Gary Wickham, CEO, MagGrow
Irish start-up MagGrow, is one of just 12 companies from around the world, selected to participate on the 2016 Thrive Accelerator Programme which has commenced in Salinas, California.
Thrive Accelerator, an initiative driven by SVG Partners, is a unique international business programme for promising start-ups in the areas of food and agricultural technology.
Companies participating on the programme have the opportunity to pitch to leading agriculture VCs for funding that can range from seed funding up to €4.4 million.
MagGrow, headquartered at NovaUCD, the Centre for New Ventures at University College Dublin, has developed a pioneering magnetic spraying technology system for the arable and horticulture sectors.
MagGrow’s technology reduces drift by over 80 per cent while at the same time delivering superior coverage, a key challenge for existing drift control technology. Benefits of the technology include increased profitability through chemical savings; increased productivity through increased spray windows and spray capacity; supports environmental regulations and is better for the environment.
Through the eight-week programme participating companies will benefit from high-level mentorship, collaboration and direct access to the world’s top fresh agriculture companies in and around Salinas and the central California growing region.
More than 200 start-ups from 35 countries applied to take part in the 2016 programme. Over 30 of these companies were then chosen to pitch to a diverse group of senior judges drawn from agriculture; technology sectors; financial and investment groups; and universities, who selected the final 12 companies.
“We are truly delighted to be selected to the final 12 companies on the 2016 Thrive Accelerator Programme. It is a great testimony to the transformational benefits which MagGrow has to offer the arable and horticulture sectors,” said Gary Wickham, CEO, MagGrow.
“We have a big problem, the world’s population is estimated to grow to 9 billion by 2050. The demand for food and water will increase dramatically but by using current farming methods we simply will not be able to meet this demand. We have to find better, more sustainable ways to grow and that is why we developed MagGrow,” he added.http://www.engineersjournal.ie/2016/04/18/maggrow-commences-2016-thrive-accelerator-programme-in-california/http://www.engineersjournal.ie/wp-content/uploads/2016/04/MagGrow-1024x683.jpghttp://www.engineersjournal.ie/wp-content/uploads/2016/04/MagGrow-300x300.jpgNewsagriculture,Dublin,innovation,UCD