Entrepreneurs, researchers and scientists building or hoping to launch new ventures in the agtech sector now have a wealth of resources to draw from – including investment dollars – with the launch of the AgTech Accelerator in RTP.

Its CEO John Dombrosky shares more details about the new venture announced Thursday backed by a lot of big names and an initial $11.5 million in funding in the second part of an exclusive Q&A.

  • As with other accelerator programs, will AgTech provide mentoring services, training, and networking? Please explain how this can benefit startups

We have the seasoned, veteran team to help AgTech Accelerator companies quickly and efficiently make “go” / “no go” decisions. And we offer them all of the support they need so they can focus on the primary task at hand—turning research into meaningful products.

We shepherd and support our companies not just at birth, but throughout their life cycle. This model is special because this team is a daily, ‘hands-on’ management team, scientific team plus a fully engaged advisory board of external experts (who are seasoned business builders).

  • Where exactly is the Accelerator?

We have access to bench space and office space at 7020 Kit Creek Road in Research Triangle Park. The space is designed to provide best-in-class facilities featuring move-in ready offices, labs, greenhouses and servers.

Our access to world-leading agricultural experts and research centers places AgTech Accelerator at the forefront of creating and developing companies to transform the agribusiness sector.

  • How much space is already available? Are any related services also provided?

We currently have 1,400 square feet with the option for expandability for the future as we bring in companies to AgTech Accelerator.

The space is designed to provide best-in-class facilities featuring move-in ready offices, labs, greenhouses and servers. Our access to world-leading agricultural experts and research centers places AgTech Accelerator at the forefront of creating and developing companies to transform the agribusiness sector.

Our relationship with Alexandria Real Estate [the lead investor in the project] is a very key part of the resources that we bring to bear, as the accommodations of flexibility and space will be crucial for our companies as they grow.

As the companies grow, raise more capital and require more space, they will be able to grow within the existing space within our footprint or into additional footprint.

This unique partnership creates a flexible path for AgTech Accelerator companies to get established and scale in RTP.

  • How do companies go about applying for space?

AgTech Accelerator is an integrated solution, and thus more about curating great technologies into newly formed companies with space, scientific acumen, management, and a blue chip investor board all as part of the bundled benefit.

  • How can they apply/seek capital? What are the requirements?

We are seeking early stage agtech across a number of different sectors and throughout the value chain.

Please see: www.acgetchaccelerator.com

  • Are the investors committed to providing funding beyond the initial $11.5 million? If so, how much?

We seek to round out our funding by the end of 2016 at $25-30 million aimed at early stage AgTech company formation.

  • Will the Accelerator itself take an ownership stake in startups as other accelerators do? Are you investing on behalf of your backers, or will they make investment decisions?

Our consortia investors invest directly into the newly formed companies.

Our structure is highly collaborative, and one where the investors will play a critical role shaping and developing the companies we form.

MORE COVERAGE:

  • Read Part One of the Q&A at :

https://wraltechwire.com/exclusive-agtech-accelerator-ceo-spells-out-mission-offerings-to-startups-and-why-it-s-needed/15685244/

  • Read the announcement story at:

https://wraltechwire.com/with-big-backers-and-11-5m-agtech-accelerator-launches-in-rtp/15684345/