Agtech - So What?

• The realities of winding up an agtech app, with Nikki Davey

  What happens when an agtech startup with market pull, a clear mission, and global momentum still doesn’t make it?Nikki Davey is the founder of Grown Not Flown, which helped thousands of local flower growers reach customers who wanted sustainable blooms. Nikki’s app directly addressed the problem of ‘flower miles’. In Australia and the US, a store bought bouquet is likely to be made up of flowers that have been flown long distances, from places such as South America, Asia, or Africa.Nikki won the National AgriFutures Rural Women's Award in 2023 for Grown Not Flown, which helped to further establish the business. But, as the Grown Not Flown app was taken up across multiple countries, the challenge of scaling became harder for the startup and ultimately it was wound up. In this candid, episode Sarah and Nikki discuss:·  Misconceptions about the hardest part of founding an agtech startup.·  The realities of small founding teams,  finding investors, and scaling with limited resources.·  The emotional toll of what happens when your identity is tied to your startup.·  Why the end of a business does not mean the end of the missionUseful Resources:Victorian rural tech entrepreneur Nikki Davey named the 2023 AgriFutures Rural Women's Award National WinnerAre agtech startups just digital agribusinesses? Mark Kahn, Omnivore, Agtech So What?Sustainable Floristry NetworkFor more information and resources, visit our website. The information in this post is not investment advice or a recommendation to invest. It is general information only and does not take into account your investment objectives, financial situation or needs. Before making an investment decision you should seek financial advice from a professional financial adviser. Whilst we believe the information is correct, we provide no warranty of accuracy, reliability or completeness.

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• Agtech trends: bundling, unbundling, LLMs and more with Shane Thomas and Matthew Pryor

  ‘Bundling’ is a well-known business strategy, especially in tech, where it’s not only used to increase sales and move slow-selling products, but also to tie customers into an ecosystem (such as Apple or Microsoft).So what about all the unbundling that’s been happening in agtech recently? While historically we’ve seen seed companies offer bundled options, such as seeds, crop management, and data products, there is now a trend towards ‘unbundling’ in agriculture. This is exemplified by Corteva’s recent decision to unbundle its seed and crop protection divisions into two publicly traded companies. Similarly, Farmers Business Network(FBN) has also spun off its global crop solutions business from its digital marketplace. In this episode, Sarah Nolet unpacks the bundling/unbundling dilemma in agtech with Shane Thomas, founder of Upstream Ag Insights and Matthew Pryor, Founding Partner at Tenacious Ventures. They discuss:The strategic impacts of unbundling for companies such as FBN and Corteva, as well as the broader impacts on farmers and markets.The market dynamics that encourage companies to bundle or unbundle.How Large Language Models (LLMs) are being used in agtech, including Retrieval Augmented Generation (RAG) and other AI frameworks.Shane Thomas’ new AskUpstream AI tool.Recent acquisitions in agtech, such as the Growers Edge acquisition of FarmTestUseful Links:What Corteva’s Seed and Chemical Split Could Mean For Your Farm, Successful Farming Growers Edge Acquires FarmTest, Growers EdgeFarmers Business Network the latest to spin off company, following Corteva, Kraft Heinz, AgFunderNewsDTN acquires Grain Discovery, DTNAlphaEarth, Google DeepMindKraft Heinz to split a decade after merger in a bid to revive growth, The GuardianFor more information and resources, visit our website. The information in this post is not investment advice or a recommendation to invest. It is general information only and does not take into account your investment objectives, financial situation or needs. Before making an investment decision you should seek financial advice from a professional financial adviser. Whilst we believe the information is correct, we provide no warranty of accuracy, reliability or completeness.

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• Putting cotton farmers at the forefront of the cotton industry, with Marzia Lanfranchi

  The biggest issue facing the cotton industry isn't fast fashion or water consumption. It's that the people growing cotton have been rendered invisible. The industry fixates on fiber quality and commodity pricing while the farmers themselves– and their role in determining sustainability outcomes– get lost.Marzia Lanfranchi, founder of the global community Cotton Diaries, is a strategic consultant working to improve supply chain sustainability in the cotton industry. She argues that cotton is viewed first and foremost as ‘a cheap fiber,’ instead of a commodity that is grown in the field. She has seen that when cotton is treated purely as "a cheap fiber" rather than an agricultural product shaped by farming practices, the entire system suffers, including the sustainability frameworks fashion brands are trying to build.In this episode, we discuss why putting farmers at the center changes everything.Sarah and Marzia discuss:What fashion brands miss or overlook about regenerative agricultureWhy cotton is often perceived as a ‘water thirsty crop’ (and why that is not always the case)How stories are useful ‘tools’ to help people visualize solutions to problemsHow traceability can be built into supply chains to help fashion brands improve sustainabilityUseful Links:Cotton Diaries “Manifesto”VejaLandfill to Farmfill: rethinking cotton waste (podcast)Promises of premiums won’t cut it to scale sustainable agrifood supply chainsFor more information and resources, visit our website. The information in this post is not investment advice or a recommendation to invest. It is general information only and does not take into account your investment objectives, financial situation or needs. Before making an investment decision you should seek financial advice from a professional financial adviser. Whilst we believe the information is correct, we provide no warranty of accuracy, reliability or completeness.

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• Will China’s cheaper tractors disrupt ag equipment? With Lachlan Monsbourgh

  As the world’s largest agricultural economy, when China makes a move, the world pays attention. China has just unveiled an ambitious plan to accelerate its development of ag machinery by shortening its research and development cycles. So will China dominate the future of agricultural machinery, and what does this mean for dealers, farmers, and agtech companies?Lachlan Monsbourgh, Global Rural Agricultural and Environmental Lead at Rabobank, joins us to discuss China’s pivotal role in global agriculture. This includes China’s rapidly developing ag machinery industry, which can manufacture tractors and equipment for about half the cost of the other major players in the US, Europe and Japan. While the products currently face quality, durability and serviceability challenges, Lachlan argues it is only a matter of time before these are overcome. Lachlan and Sarah discuss:The price point difference between Chinese agricultural manufacturers and other big OEMsThe impact of cheaper tractors on agtech adoption and autonomyHow China is moving to ensure sustainable supply chains from countries such as Brazil.Global biodiversity targets and the role of autonomous robotics in helping to achieve them.Useful Links:How China is reshaping Global Food Systems for the Climate Change Era, World Economic ForumTarget to accelerate agriculture machinery development, AgTechNavigatorKunming Montreal Biodiversity frameworkThe Three Categories of Autonomy in Agriculture, SwarmFarm RoboticsFor more information and resources, visit our website. 

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• From agtech adoption problems to high performance farming teams, with Kevin Boyle, EFI

  When the agtech is not working in the field, we can be quick to search for answers in the product itself. But sometimes, the solution is not there. That’s because it’s not a technical problem, but rather a social systems challenge.Kevin Boyle is the Director of Organizational and Workforce Development at the Equitable Food Initiative (EFI). He argues that a key component of the farming and food system is often overlooked; and that’s the people who work on the ground. Farm workers can be seen as low-skilled, with little more to offer than the set tasks they perform. However, Kevin is seeking to change this approach, to better recognize the knowledge these workers have, and to create recognizable career paths for them.Kevin also believes that focusing on the workforce will ultimately benefit the development and adoption of agtech. He spent much of his career in telecommunication tech, where he helped integrate the new digital technologies of the 1990s into the system, including the workers.Sarah and Kevin discuss:·  Kevin’s unique career background, from growing up on a farm, to working in telecommunications tech, and consulting across Europe and the United States.·  How the perception of farm workers as ‘tools’ rather than humans with skills, knowledge, and desires has hindered tech adoption.·  How to better recognize the skills and knowledge of farm workers, to build high performance farming businesses·  How applied university research can be used to test a product in the broader system before it goes to market.Useful links:·  Can robotics solve the farm labor problem? With Connie Bowen and Sophie Thorel·  How policy hamstrings agtech in California - Walt Duflock 

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