October 8, 2018
Alltech's Pearse Lyons Accelerator attracts startups as ag-tech investments surges
On the heels of two successful previous iterations, Alltech's Pearse Lyons Accelerator is now seeking applications for a new cohort of world-class international ag-tech startups to participate in its global mentoring program.
The Pearse Lyons Accelerator was the brainchild of the late Dr. Pearse Lyons, who founded Alltech, an animal nutrition company, in the early 1980s in his garage with just US$10,000. The Accelerator, a late-stage, non-equity programme, offers startups access to a network of executives who have, collectively, more than 100 years of leadership experience and domain expertise in agriculture. Participants also receive a EUR15,000 (US$17,221) stipend to cover day-to-day expenses, as well as software perks worth over EUR300,000 (US$344,426) from companies such as Google, Facebook, Softlayer and Amazon.
The programme culminates with successful startups pitching to more than 4,000 attendees, including some of the premier global thought leaders in agriculture, on the main stage of ONE: The Alltech Ideas Conference (ONE19) in May 2019. The event will be held in Lexington, Kentucky, US.
"What other agri-tech startup puts you in front of 4,000 industry leaders and potential investors?" asked Dr. Mark Lyons, CEO and president of Alltech. "If you're looking for support from industry professionals, mentorship from the best in the agri-business and networking opportunities that have been instrumental in alumni accessing vital funding, then the Pearse Lyons Accelerator is for you."
Alumni of the Pearse Lyons Accelerator - which is hosted at Dogpatch Labs in Dublin, Ireland, one of Europe's leading startup hubs - have collectively raised US$28 million since.
In its first year, six of the 10 startups at the Accelerator were featured by CB Insights in "Agtech: 100+ Technology Companies Changing The Farm," illustrating the fact that only the world's best startups are selected for Alltech's programme.
Last year, another disruptive cohort came through the Accelerator, resulting in startup Smartbow GmbH installing more than 1,000 sensors on feed yards in a real-time pilot with Alltech.
More recently, AgriWebb, an Australian-based livestock herd management software company, raised a Series A funding round worth US$10.2 million in August from the UK agri-food investor Wheatsheaf Group.
"The Pearse Lyons Accelerator serves as the perfect vehicle to [create] visibility for us and our partners [with] the most disruptive ag-tech startups across the world," said Aidan Connolly, chief innovation officer at Alltech. "A clear route to market remains a challenge for startups within the ag-tech industry. The programme provides accelerated access to the global market with a comprehensive package of support to help them navigate the challenge of scaling their operations to service large corporate customers."
The Pearse Lyons Accelerator continues to attract the best startups in the world due to its unique approach of focusing on business development rather than equity.
"With this Accelerator, we carry on the legacy and entrepreneurial spirit of my father, Dr. Pearse Lyons; he had the desire and dedication to empower the next generation of entrepreneurs, who will transform the face of agriculture," Lyons said. "His vision was to support entrepreneurs by providing route to market and accelerating sales."
Ag-tech startups are encouraged to apply for the Pearse Lyons Accelerator program before Dec. 7, 2018. Visit pearselyonsaccelerator.com to learn more.