AMES, Iowa, March 1, 2021 – Ag Startup Engine (ASE), at the Iowa State University (ISU) Research Park, announced an initial $50,000 investment in startup Stockguard, with a mission to develop innovative risk management tools to protect US beef and pork producers from unexpected financial losses, including from foreign animal diseases like African Swine Fever virus.
Jeff Gillis, the startup’s co-founder and CEO, said of the investment, "Ag Startup Engine has been instrumental in Stockguard's success. We're working to create the most useful insurance products for the livestock industry. In order to do so, we need to build in lockstep with our customers and the cattle and swine industries. With its large network and deep roots in the agriculture, insurance and livestock industries, Ag Startup Engine is connecting us with animal health experts, strategic partners and livestock producers so we can build the right solutions, with and for the industry."
Ag Startup Engine is excited to welcome the startup into its portfolio. “The livestock industry is well aware of the economic impact of foreign and endemic animal diseases,” said Joel Harris, ASE Executive Director. “Stockguard hopes to give producers new tools to keep their operations on track.”
“My partners and I joined the Ag Startup Engine because of the opportunity to invest in innovative technologies coming from companies like Stockguard,” said Mike Doran COO of Swine Genetics International. “As a livestock producer I’m excited to have access to new risk management products in a space where innovation has been rare.”
Ag Startup Engine was launched four years ago to help address two fundamental gaps that prevent agricultural startups and entrepreneurs from being more successful: early seed-stage investment and organized mentorship from successful entrepreneurs. The program recently announced closing of their second fund with the goal to accept and invest in 45 agriculture and animal health startups in the next five years.