Agri-Trak, a current member company of Koffman’s Business Incubator program, was recently selected as one of 12 startups in the Techstars Anywhere 2024 class. Part of the acclaimed Techstars accelerator offerings, Teachstars Anywhere is their remote-first program enabling participation across North America and industries.
The three-month accelerator program kicked off with the first of its three in-person meetings on Monday, March 11 in San Diego, California. Subsequent in-person sessions will occur mid-way through the program in Austin, Texas and for the final week in Boston, Massachusetts. Both Agri-Trak’s Founder and CEO Jamie Sonneville and Co-Founder and CRO Jason Hill ventured out west for the kickoff.
“Our reaction was a “Hell yes!” type of pride and excitement,” said Hill about their initial reaction to receiving the news that they were selected. “It was a strong shot of confidence that we’re doing something right. One of the things we take pride in is how difficult and exclusive it is to be accepted [into] Techstars and how huge their platform is. They showed the stats — less than 1% of all the applicants out there [are accepted]. The ratio of acceptance… it’s harder to get into Techstars than it is to get into Harvard. So, that’s really a big deal and it resonates with how big the opportunity is.”
Throughout the three months of active programming, Agri-Trak will attend sessions with experts on various topics. They will learn about business growth, gain insights from former participants, obtain tailored mentorship, and receive initial investment for travel. This all leads up to Demo Day on June 6 where participating startups pitch their businesses to a panel of investors.
“They have a very deep investor network and Techstars themselves can also invest,” commented Hill. “They [Techstars] like to invest in the companies that go through their program. With the clout that the name has, [their] reputation, investor network and Techstars [investment group] themselves, we feel really good about potentially raising at the end of this program.”
Throughout their various accelerator programs, Techstars has dispersed a total of $26.8 billion in funding to over 9,000 Techstars founders. Techstars also prompts an average of $1 million first raise after participation for their graduates. Former Techstars Anywhere participants have included Cabinet Health, Forecastr, The Crafter’s Box, Event Hub and EnrichHER. Other notable former Techstar Accelerator participants are Digital Ocean, DataRobot, TradingView, ClassPass and SalesLoft.
In addition to the possibility of investment following Techstars, Agri-Trak is gaining insight from leading mentors. Techstars Anywhere includes participating startups in selecting their mentors and asks for their input on the background and experience they’d like their mentor to have.
The mentorship they will receive as part of Techstars will complement the mentorship they’re currently receiving in the Koffman’s Business Incubator program.
“Every person brings something unique to the table when it comes to mentorship and I think that, as a founder, you want to take the things that really resonate with you, your business, your vision and what you’re trying to do, regardless of where that comes from,” said Hill. “It’s another resource — a great resource just as the Koffman has been — to be able to give us those insights, advice and direction that [is] one of the biggest benefits of something like the Koffman and Techstars. It’s just gaining those different experiences and insights from people with different backgrounds and experiences.”
“As Agri-Trak embarks on their journey with Techstars, their participation marks a pivotal moment in their growth trajectory. Mentorship is the cornerstone of success in the startup world, and the efforts of the Koffman Incubator and Techstars are sure to provide fertile ground for Agri-Trak to not only receive top-notch guidance but to also gain invaluable perspectives from seasoned entrepreneurs,” said Eric Krohn, director of business incubator programming and Agri-Trak’s mentor at the Koffman. “Through this collaboration, Agri-Trak is poised to cultivate innovation, refine their strategies and sow the seeds of success in the dynamic landscape of agritech.”
What Hill is most excited about as Agri-Trak embarks on this three-month experience is the ability to network and learn from the other participating startup founders.
“In startups and being an entrepreneur and a founder, there are definitely a lot of the same hurdles and challenges. We’re all dreaming big, we all have big visions, we’re all trying to make something and build something,” said Hill. “I’m just excited to meet the other founders and press into what their experiences have been, and maybe learn some things that I wouldn’t have otherwise.”
Follow their accelerator journey on both Agri-Trak and Techstars Anywhere LinkedIn pages.
