Newly-launched accelerator focuses on agri-tech businesses in CEE

Agricover, one of the biggest agribusiness groups in Romania, investing platform for tech startups SeedBlink, and Microsoft have launched Nextcelerator, a digital accelerator designed for early-stage agri-tech companies in CEE's agriculture sector.

Nextcelerator - the Digital Agriculture Hub is open to entrepreneurs in the agri-tech sector with an early-stage startup founded in CEE, already tested MVP and growth business plans. The program will use mentoring sessions to diagnose the startups' gaps and opportunities and then deploy appropriate support mechanisms such as training, business planning, mentorships, peer learning and introduction to farming.

The overall goal of this program is to develop the capacity of market-ready agri-tech startups and entrepreneurs in Central and Eastern Europe so that they have greater potential to generate sustainable revenue and connect them with growth capital investment partners to pursue their growth plans, according to a release announcing the project. The selected startups will have access to four weekly one-on-one mentoring sessions focused on entrepreneurial skills.

"Romania ranks among the top countries in the European Union from agricultural output perspective, with the significant untapped potential of growth. Future agriculture is bound to be sustainable and environmentally friendly, and the adoption of digital technology is a key transformation factor. 2021 was a good year for agriculture and agribusiness in general in Romania, and all prospects point to technology sustaining growth. Therefore, a closer partnership between agribusiness experts, tech experts and investment funds can foster and support a new generation of agri-tech startups," Liviu Dobre, general manager of Agricover Holding, said.

"It's clear that for all of us – not just for the sake of rural communities, but for the whole of society – we cannot afford to leave agriculture digitally behind. The conversations we're having with agricultural clients today are much the same as a few years ago – how can they reduce costs, improve efficiency, and create new jobs by leveraging the right tools. Agriculture is radically transforming and has the potential to address many global sustainability and productivity challenges through technology. The program aims to empower high-potential startups to further develop their business model by providing them with technological, business and financial resources to help them secure a leadership position in the CEE agri-tech scene," Bogdan Putinică, general manager of Microsoft Romania said.

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