The Agrytech Accelerator wrapped up the first phase of its program with a Demo Day on July 12. The accelerator is jointly funded by Berytech and Kingdom of the Netherlands and it is headquartered in the Berytech Technology Pole of St. Joseph University, Lebanon.
The Agrytech program aims to develop startups with technology-based innovations in the agriculture and agro-food sectors.
17 selected startups went through a two month boot camp during which they connected with business and sector experts and learned different business methodologies. In addition, a grant of $3,300 was given to each team, intended to cover the cost of validating the business model and test potential user and market interest.
The day preceding the Demo Day the startups presented their final pitches to a jury of experts and executives in the sector. Only 11 were selected to advance to the second phase of the program which will last four months and include $16,000 in support grants. At the end of this period, the 11 teams will compete for phase three of the program where up to eight teams will be selected for a six month incubation period and $22,000 in grants.
On the Demo Day, the 17 initially participating teams attended a networking session, and the 11 selected startups presented their business solutions across the agri-food industry to an audience of investors, industry experts, and entrepreneurs.
The program director of Agrytech, Ramy Boujawdeh, highlighted a number of upcoming activities that are meant to connect engineers and computer scientists to sector challenges, such as Hackathon and Ideathon events. He also announced that preparation for the second batch of startups to be selected for the program will start in early 2018.