Meet Vlasis Tsezos from Agritrack
Q: Can you introduce yourself and your startup?
A: I’m Vlasis Tsezos, the CEO and co-founder of Agritrack. We specialize in post-harvest automation for perishable foods. Our main focus is developing software for food production companies, particularly in the fish and dairy sectors. Our solution integrates food science with A.I. and cloud to assist producers in monitoring quality, reducing food losses and costs, while enhancing consumer trust in their products. The last one is achieved by incorporating QR codes on product packaging, allowing consumers, like you and me, to scan them at the stores and access detailed information about the product’s provenance and quality. Our aim is to bridge the gap between producers and consumers by providing transparency and assurance about the food we consume.
Q: How did the idea for Agritrack originate?
A: The concept of Agritrack wasn’t an overnight revelation. The founding team first crossed paths in 2012 while working on a traceability software solution. Back then, my focus was on developing IoT solutions for logistics, unrelated to food. Our project completed, and though we went our separate ways professionally, we stayed in touch and became friends. My career path shifted to management consulting in London, where I worked with a leading global food equipment manufacturing company. This role involved operational planning, and it was during this time that I recognized the persistent challenges in food traceability and quality.
This realization was the spark that brought our team back together. We revisited our earlier discussions and, by late 2020, officially launched Agritrack in 2021. Our core mission with Agritrack is to optimize how perishable food producers manage their value chain. The goal is to reduce food losses and costs while simultaneously enhancing consumer trust.
Joining the Alchemist Accelerator
Q: What inspired you to join the Alchemist accelerator program?
A: Alchemist is renowned as a top-tier accelerator, and joining it seemed like a strategic step for us. Despite our multinational experience, Agritrack was established in Greece, a startup always seeking growth and network enhancement opportunities. Alchemist offered us exactly that — a global platform with a diverse mentor network. It’s a rigorous program, featuring a resource called ‘the vault’, which is an incredible dataset of mentors, investors, and potential customers. This access is vital for a startup, especially in the early stages, to showcase our product to key stakeholders.
The selection process for Alchemist was highly competitive and demanding. I remember the final round being particularly intense, with back-to-back interviews and tough questions. You had to be prepared with well-thought-out answers and a solid strategy. This rigorous process, even for startups that don’t get accepted, is beneficial. All applicants receive feedback, which, if taken constructively, can significantly improve their business plan.
Several factors contributed to what set Agritrack apart. Firstly, we’re addressing a large market, essential for growth potential. Secondly, our offering is unique as we combine IT, food science, and AI to provide valuable business intelligence. Lastly, our unique selling point (USP) is hard to replicate. It’s based on over 20 years of research in predictive microbiology, allowing us to assess quality using IT technologies and AI. This differentiation is not easily replicable without significant investment, giving us a competitive edge in the market.
Experiencing the Alchemist Accelerator Program
Q: Could you describe your experience participating in the Alchemist accelerator program?
A: Joining Alchemist begins with direct communication with Ravi, the managing partner of the accelerator and a Stanford professor. These initial exchanges are insightful, covering both practical advice for the company and negotiations, since joining an accelerator involves investment and contractual agreements. This negotiation is a key part of startup life.
Once you’re in, you get to meet other accepted startups, which is a great experience. Despite much of the program being remote, there’s a strong emphasis on team bonding. We had numerous meetings, sometimes lasting four to five hours, aimed at building connections and learning from each other’s challenges.
Alchemist places significant focus on commercial training, particularly in marketing and sales. One unique aspect is the ‘Cab’ or Customer Advisory Board, which provides extensive resources and mentorship to refine our commercial proposition. The program includes a CEO coach and a commercial sales coach, emphasizing the importance of metrics and KPIs, crucial for any company’s growth.
The program culminates in a demo day, where startups summarize their growth and prospects to a broader audience. This event is not just a presentation; it’s an opportunity for additional investment, customer acquisition, and networking. Startups at different stages have varied needs during the demo day – some seek more investors for seed, pre-seed, or Series A funding, while others look for customer expansion. The demo day serves as a pivotal moment to showcase progress and attract further growth opportunities.
Key Milestones Achieved at Alchemist
Q: What were some significant milestones you achieved during your time at the Alchemist program?
A: Definitely, the program was transformative in several ways. One of the most significant milestones was the overhaul of our commercial strategy, including our go-to-market approach. We refined our proposition and investor deck, tailoring it more effectively to our audience.
On a personal level, I gained invaluable insights into the mindset of investors and venture capitalists. Understanding what they prioritize, what resonates with them, and how to communicate efficiently with them was a game-changer. This knowledge not only helped in refining our pitch but also in fostering more productive conversations with potential investors.
Current Status and Future Outlook of Agritrack
Q: Could you share the current status of Agritrack and any upcoming milestones?
A: While I prefer to keep specific upcoming milestones confidential for our investors, I can share some exciting recent developments and our general focus moving forward. We just returned from COP28, where Agritrack was the Greek startup presented at this United Nations event in Dubai. Being selected by Microsoft UAE and the Abu Dhabi Investment Office for this opportunity was a remarkable experience and a significant achievement for us.
As for our current focus, it’s primarily on commercial aspects. We’re working on gaining more traction, which involves conducting more pilots and expanding our operations across Europe, including Greece. While I can’t delve into specifics, this phase is crucial for us to roll out and scale up the solutions we’ve been developing.
Advice for Founders Considering Alchemist
Q: Do you have any advice for founders who are considering applying to the Alchemist accelerator?
A: Absolutely, my advice is straightforward: Apply. Even if you don’t get accepted, the experience itself is incredibly valuable. Approach the process with an open mind and pay close attention to feedback from mentors. Each interaction, and each piece of advice, prepares you for future discussions and helps refine your offering. Remember, it’s a learning process, and each iteration improves your startup. It’s crucial for a startup not just to build a product but also to communicate its value to potential stakeholders effectively. Applying to elite accelerators like Alchemist is an excellent opportunity to hone this skill. When applying, it’s important to have a clear, defensible unique selling point (USP) and a thorough understanding of your market. Investors and accelerators are drawn to startups that address significant markets with a unique approach. So, make sure your application highlights these aspects to stand out and capture their interest.