Iowa-based startup SwineTech and Canadian-based startup BinSentry are winners of the Thrive Midwest Challenge and recipients of the 2019 Thrive-Forbes Innovation Icon Award.
The Thrive Midwest Challenge is a pitch competition for startups developing ag biotechnology, livestock, and animal health and digital crop technology relevant for Midwest farmers and producers. The Thrive Challenges provide startups with an opportunity to showcase their solutions before an audience of investors, corporate partners, and local and national media.
About the winners:
- SwineTech Inc. is an agtech and animal health company that uses voice recognition in its SmartGuard device to innovate farrowing operations for the swine industry.
- BinSentry Inc. is reinventing feed bin monitoring and inventory data systems with IoT and supporting software that is applicable across agtech sectors and other relevant industries.
What do winners receive?
Both SwineTech and BinSentry will receive a spot in the Thrive VI Accelerator 2020 with a $100,000 investment from SVG Ventures, plus an advertisement in an upcoming issue of Forbes magazine and the opportunity to present at Forbes’ Under 30 Summit in October.
What are organizers saying?
“This year, the THRIVE Midwest Challenge Program received eighty-nine applications from twenty-six countries,” said SVG Ventures Founder and CEO John Hartnett. “The winners, SwineTech and BinSentry, provide significant technological advancements that will play a key role in optimizing operational efficiencies for pork producers and Midwest farmers.”
“The 2019 Thrive-Forbes Innovation Icon Award honors those helping to bring solutions to the marketplace that will move the world forward,” said Sherry Phillips, SVP of ForbesLive. “SwineTech and BinSentry are both gamechangers for the industry and true innovators. They’re incredibly deserving of this honor.”
Who judged the entries?
Judges for the competition included:
- Rachelle Galvin, SVG Ventures Thrive Midwest Program Director,
- Neal Gutterson Senior Vice President, Chief Technology Officer of Corteva Agriscience, and
- Chloe Sorvino, Staff Writer, Forbes Magazine.
What five companies competed on stage?
The companies that competed on stage at the Forbes AgTech Summit were Advanced Animal Diagnostics, BinSentry, GroGuru, Swinetech, and 3 Bar Biologics.
Are applications open for the next round?
Applications are open for Thrive’s sixth accelerator program. The Thrive VI Accelerator program will take place over four months from February to June and culminate at the Forbes AgTech Summit June 2020. The application deadline is Oct. 31, 2019. To apply, visit the Thrive website.