Cultiv8 Group and N.C. Plant Sciences Initiative Partner To Help Startups Deliver Sustainable AgTech Solutions
Press Release, February, 2024: The North Carolina Plant Sciences Initiative (N.Cc PSI) at NC State University (Raleigh, NC) and Cultiv8 Group, comprising Spark Labs Cultiv8 and Cultiv8 Funds Management (Orange, Australia) are pleased to announce a new partnership aimed at driving collaboration between Australia and the United States to solve agricultural challenges.
Cultiv8 Group is an Australian agri-food tech accelerator and VC fund, and the N.C. PSI is an interdisciplinary research and education hub that accelerates discovery, talent development and applied solutions for agriculture both locally and globally.
The partners recently executed a memorandum of understanding with the goal of supporting each other in their entrepreneurial endeavors.
Cultiv8 co-founder Malcolm Nutt said the partnership offers valuable opportunities for companies from the United States to expand internationally and for companies in the Cultiv8 portfolio to gain direct access to the U.S. market.
“The agri-food tech ecosystem globally is still quite fragmented, which presents challenges for companies looking for the right partners to help them enter new markets, accelerate research and development, or test and optimise their products,” Nutt said. “Partnerships like these are critical to advancing our global capability to grow more food, more sustainably, which we must achieve to feed a growing population in a changing climate.”
N.C. Plant Sciences Initiative Executive Director Adrian Percy added that the partnership with Cultiv8 will provide startup companies in the initiative’s Seed2Grow program with the opportunities to engage with experienced entrepreneurs and potential investment opportunities.
The N,C. PSI launched its Seed2Grow program in 2024, offering startups with ties to the university access to an ag tech incubator, mentorship from a commercialisation advisory council, and more.
“We see Seed2Grow and commercialisation and entrepreneurship partnerships like the one with Cultiv8 as opportunities to deliver on our mission by helping growers gain access to transformational technologies and decision support tools,” Percy said. “Such technology is critical for economic and environmental sustainability of agriculture both locally and globally.”
Kathleen Denya, the N.C. PSI’s director of innovation partnerships and point person for the partnership, said, “We are excited to partner with Cultiv8 and collectively support entrepreneurs with commercialising their innovative technologies.”
About SparkLabs Cultiv8
Founded in 2017, SparkLabs Cultiv8 has supported more than 50 companies through its accelerator program, companies that today boast a combined market cap of over AUD$1.7 billion; have raised more than half a billion dollars in follow-on capital and have created over 750 jobs. The program boasts a global cohort of more than 50 expert mentors and industry advisers and is supported by all Australia’s leading agricultural industry bodies as well as Government.
About Cultiv8 Funds Management
Cultiv8 Funds Management is an early-stage venture capital fund, investing in Seed to Series B companies. The fund was established to invest in commercially ready opportunities that deliver impact to the agricultural sector. Established in 2022 with a cornerstone investment by Challenger Limited, the fund is dedicated to investing in and expanding global innovative businesses, whilst leveraging Australia’s world class industries, research and expanding technologies.
About the North Carolina Plant Sciences Initiative
The N.C. Plant Sciences Initiative unites the brightest minds from academia, government, and industry to drive education, scientific discovery and innovation. This collaborative effort not only nurtures the next generation of agricultural leaders but also advances agriculture and contributes to a more sustainable and prosperous world. The PSI has 75 affiliated faculty members across eight NC State University colleges.