Agritecture Acquires AgTech X To Advance Urban Agriculture Entrepreneurship Globally
Brooklyn, NY | June 20, 2019 – AgTech X LLC, an early-stage incubator and educational platform for urban farming and agtech entrepreneurs, has been acquired by Agritecture, LLC. For the past two years, AgTech X has run New York City’s only shared workspace dedicated exclusively to advancing urban agriculture and local food system innovation.
“By bringing AgTech X’s network and knowledge base into Agritecture’s consulting practice and media platform, we are ready to build the go-to vehicle for accelerating local agriculture entrepreneurs everywhere,” said Agritecture founder and managing director, Henry Gordon-Smith.
Since opening its doors in June of 2017, AgTech X convened over 3,000 participants for workshops, networking events, and conferences in New York, and worked with more than 35 coworking and startup members. They also collaborated on multiple agtech educational initiatives, including a high school curriculum for Kentucky-based startup AppHarvest, and a community-built hydroponics demo on Governors Island.
“I’m really proud of the impact AgTech X has made in just two years with a very small team, and the incredible community that formed around us,” said founder Ricky Stephens. “But we reached an inflection point recently where we needed to find the right way to scale our reach beyond just New York. Joining forces with Agritecture, whose work I’ve long admired, gives us the ability to do that.”
Some of AgTech X’s promising startup members have included NATIVE, GrowComputer, and NexLoop. “GrowComputer would not exist today without AgTech X,” said founder and CEO Dan Nelson. “It incubated us since before we were just the seed of an idea, and has directly helped us recruit and grow our team from people within the community.”
AgTech X will close down its coworking activities for the time being. Lectures and workshops will continue, but may take on new formats. Stephens will step into the role of Director of Digital Strategy, where his focus will be on democratizing access to some of the combined knowledge that now rests with Agritecture, as well as building a stronger global network of urban and local agriculture entrepreneurs.
“What we’re seeing is that, around the world, there are pressing needs for local agriculture solutions,” said Agritecture director Yara Nagi. “Whereas it was primarily entrepreneurs driving the conversation when our consulting practice started five years ago, we’re now being contacted more and more by mayor’s offices, innovation hubs, and brands with significant purchasing power. They’re asking how they can empower their citizens or suppliers with the right tools to succeed in a food system that is rapidly changing and increasingly under threat from climate change. We’re excited to incorporate AgTech X’s expertise and methodology in working with multiple entrepreneurs across the local food value chain to assist a wider variety of clients in addressing these challenges.”
Contact: Briana Zagami
Media Strategist, Agritecture