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Tips for Startup Success

You are doomed to fail.

If you’re an entrepreneur, you have heard this over and over, and for good reason- 90% of all startups fail (Forbes).

Entrepreneurs have allowed our society to grow and advance, following mottos like “I have not failed, I have just found 10,000 ways that don’t work,” a phrase said by one of America’s greatest inventors, Thomas Edison. We applaud this, because it is the persistence of entrepreneurs that has allowed for revolutionary ideas to enter society.

Michael Glauser, a contributor for Entrepreneur Magazine, interviewed 100 entrepreneurs to find what made startups successful. His take away:

“I learned they (entrepreneurs) had three types of pre-launch experience that helped them succeed: 1) they had worked in the same industry as their new business, 2) they had worked in a related industry, or (3) they were serious and frequent users of the products.” (Entrepreneur)

Many ag startups don’t fit in any of the above categories. For those companies, all is not completely lost. It simply means there must be an extra effort to continue expanding knowledge and experience by connecting with end-users and those within the industry.

The AgLaunch team believes in the necessity for startups to know their market, to know their product and to know its functionality in its intended environment.

That is why AgLaunch provides three programs for entrepreneurs who have innovations for agriculture to gain experience with real-world farmers and ag experts.

  1. AgLaunch Startup Station is an all-day pitch contest held on March 3 in conjunction with the Mid-South Farm & Gin Show, which hosts more than 400 exhibitors and 20,000 farmers. Startups will pitch to expert panels comprised of farmers, investors, and corporate partners, including Farm Bureau, Farm Credit, DuPont, Monsanto Growth Ventures, and Case IH. The pitch sessions will be 10:30 am to 12 pm and 1:30 pm to 3 pm.
  1. AgLaunch Accelerator is a 15-week cohort-based accelerator offering $50k and training in customer discovery, business model building, and business development, Participants have access to industry experts and leading ag-tech venture capitalists participate in evaluating teams. The accelerator runs in Memphis, TN giving entrepreneurs access to all major US row crops as well as select specialty crops.
  1. AgLaunch Farmer Network is a way for entrepreneurs to test their innovations on the farm with in-field trials and hands-on access with farmers. The AgLaunch team coordinates activities and trials to give the entrepreneur valuable insight and useful input from the target user so that they can improve their product before going to market.

Don’t miss this opportunity to move your startup further from the 90% and closer to the successful 10%. Learn more and apply today!

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