New Forest Tech accelerator is launched

SilvaTech is an international accelerator program aimed to build a tech product that will solve the key technology challenges within forestry. It has been launched by B2B startup accelerator Startup Wise Guys and Latvian State Forests, the holding company that administers and manages public forest land in Latvia.

Forestry is one of the principal industries of the Baltic region, and Latvian State Forests is one of the region’s most important industry players, managing over 1.6 million hectares of forests. With SilvaTech, LVM is looking to push Baltic forestry further into the future.

SilvaTech is a hybrid (online & offline), 8-month-long acceleration program that’s divided into four stages, covering everything from idea shaping to building a market-ready solution. While the first part of the program – Idea Hacks – is aimed at internal teams from LVM, startups tackling forestry related challenges can already apply for the second part of the acceleration program. Ten internal and external teams will be invited to the final stage for an intensive product development and entrepreneurship training program. 

Program participants will be given access to the combined entrepreneurial and forestry expertise of Startup Wise Guys’ and LVM’s mentors, as well as forestry data and insights to help tackle the current challenges of one of the largest forestry players in the region. LVM is explicitly hoping to find internal developmental partners via this new accelerator program. 

Interested startups with a focus on seed growing and planting, mineral extraction, general forestry and arboriculture, hunting and recreation, or geospatial information systems are encouraged to apply. The program is also open for startups that are developing a product or service that could be applied to the forestry industry. 

Idea and early-stage startups are invited to apply till September 1st and take part in the first two stages of the program, while more mature teams with a ready MVP can apply till the end of October to be considered for the Growth acceleration stage.

Participation in the program is equity-free and free of any costs. Preference will be given to startups that show a commitment to testing and developing products within Latvian forest lands.

Source: labsoflatvia.com