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Innovation in agbioscience has never been more critical. In today’s tough economy, farmers are looking for new ways to generate margin and with geopolitical instability around the world, food’s stabilizing force around the world is taking center stage. Former Army Colonel and Executive Vice President of The Directions Group (Aimpoint Research) joins today to talk forces of change in our food system, food security as national security and innovation for the farmer.
Key Takeaways:
The Directions Group’s recent Farmers of the Future research dives into how farmers are evolving, what they need and how his team sees this landscape changing in the future – including consolidation. Agbioscience’s critical role in human health and its impact on our national security and military service. Mark’s work with Indiana farmers to define the critical challenges facing their operations as the launch point for this year’s Producer-Led Innovation Challenge and The Directions Group’s methodology of tackling this feedback. Labor management and administrative burden as huge hurdles for farmers to be successful – and why talking with a farmer will drive better outcomes for innovators.Read the study, Producer-Led Innovation Challenge Opportunity Identification, at agrinovusindiana.com/research.
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Sustainability in agbioscience requires two key inputs: environment and economics. Today we are joined by Rumin8’s head of research and development, Dr. Lucas Huntimer, to talk economic durability, sustainability and how his team aims to decarbonize 100 million cows by 2030.
Lucas dives into the challenge at hand – methane – and Rumin8’s differentiated approach to innovating in this space. Rather than focusing on methane knockdown, their team is redirecting methane emission back into productivity, returning investment back to the producer.
With an uptick in innovation happening in this space, we had to ask: why now? Lucas talks through the rise in focus surrounding cattle, their bold mission to decarbonize 100 million cows by 2030 and the hurdles they’ll face to get there, from regulatory to capital.
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Discover the journey of Salena Scardina, from her start at McDonald's Corporation to becoming the Chief Marketing Officer of the Indiana Economic Development Corporation, and her mission to redefine Indiana's global brand. In this episode of Agbioscience, Salena shares her insights on the customer experience, the power of understanding your audience and the innovative promise of Indiana's economy looking toward the future. Dive into the discussion on how Indiana is boldly claiming its place on the world stage, thanks to strategic branding and a deep commitment to innovation in agriculture, technology and touting what we do best – work together to achieve big outcomes.
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Venture capital has become synonymous with innovation. And one firm is turning to an event featuring world renowned artists, actors, athletes and innovators (plus a multi-million-dollar pitch competition) to drive new creative collisions. Toph Day, CEO of Elevate Ventures and mastermind of the Rally Innovation Conference, joins today to talk the state of venture capital, false growth driving bad decisions and his optimism heading into the last quarter of 2024.
Part of his optimism starts with a major event kicking off in Indianapolis this week – the 2nd Rally Innovation Conference. Toph stresses the value of other vertical perspectives, bringing a wide range of expertise together at Rally and what attendees can expect at the event this week (in one word: Toph says to expect magic).
What’s so different about Rally, anyway? Toph acknowledges that innovation doesn’t happen 1 on 1 between investor and entrepreneur and introduces a critical figure to the process: the disparate stakeholder (the figure upon which the event was launched). Between the demo floor, nationally renowned keynote speakers and a multi-million-dollar pitch competition, Rally is designed to bring together leaders across multiple disciplines to drive new, creative waves of innovation.
With over 3,000 attendees in year one, Toph has a big vision for Rally’s sophomore season. This includes keynotes from Tia White, Alex Rodriguez, Marcus Lemonis and Jann Mardenborough (think creative collisions) + fantastic breakout sessions across food and agtech (among other verticals).
Learn more about Rally at rallyinnovation.com. Use code RALLYAgrinovus to get 40% off your ticket.
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The animal health market – estimated by many sources to be $60 billion globally – spans everything from pet health to livestock and holds applications for innovations in feeds, vaccines, therapeutics and beyond. Joining us this week to talk about this evolving market is Tim Bettington, EVP of Corporate Strategy and Market Development at Elanco, to share his front row view on the evolution of animal health and the driving forces behind its growth.
Tim talks Elanco’s bifurcation between pet and livestock health, the dynamic challenge of bringing innovation to market in both categories and their unique individual challenges and opportunities. He also gets into investment dollars flowing heavily into the pet space – and how to balance that against innovation in livestock as potential to transform our food system and planet.
Innovation in livestock has been focused largely on methane reduction in cattle and Tim shares Elanco’s approach to creating products for the animal health space while also giving farmers a pathway to economic and environmental sustainability. Tim talks their partnership with Athian, the launch of Bovaer in the U.S. market and Elanco’s role in the future of the agricultural industry.
How does Elanco view their balance between internal R&D and external partnerships? Tim dives into the critical role of artificial intelligence (AI) to optimize solutions to problems more quickly and what emerging trends will create a bigger footprint moving forward. He also talks the OneHealth Innovation District coming to Indianapolis, innovating for overall health and what’s ahead.
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Food: it’s the only economy that touches every person the planet and ideally, we have a relationship with it three times a day. Despite that, many don’t know where their food comes from or its connection to the farm. Christy Wright, Director of Global Food at Corteva Agriscience, joins us today to connect the farmgate to the dinnerplate, the global challenge of food security and what dynamics play into the food economy.
Christy dives into what unites farmers and consumers: the desire for a safe, affordable food supply created sustainably. She also gets into the convergence of food and health, Corteva’s role in optimizing nutrition across the globe through farmer inputs and linking arms with food companies to optimize ingredients.
As food continues to optimize for health, what emerging trends excite Christy? She talks biologicals, regenerative agriculture and other “leveling up” solutions that create healthy crops that meet the needs of a growing population.
As for how the needs of farmers are being met on the other end of the value chain, Christy also gets into Corteva Catalyst, bringing innovation to market and what she sees as the next chapter of our food system.
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Cooperatives and retailers have been critical infrastructure for agriculture for generations. Keystone Cooperative CEO, Kevin Still, joins today to discuss their key role on farming operations and how ag retail has evolved since its inception.
As on-farm technologies continue to advance so does its role in cooperatives’ product portfolio. Kevin dives into Keystone Cooperative’s approach to being a trusted advisor on products and solutions that create value for their farmers – from data management to labor.
Keystone Cooperative is just a few months old and Kevin gives an update on their people, processes and bringing synergies together. Looking ahead, he talks investing in new technologies at scale and being a conduit between emerging technologies and the farmer. He also gets into the next four decades of agriculture and a new evolution of the farmer.
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July was a month of momentum for the agbiosciences, including the release of new research that revealed Indiana agbioscience contributes nearly $70B to the state’s economy. We are here to recap the month:
Accelerate 2050 – a new study that highlights three priority opportunities for the agbiosciences including Food is Health, Farmer-Focused Innovation and Farmer-Focused Innovation. We also hear RTI’s Jim Redden’s comments on what these areas of focus mean for Indiana – and around the world. Heartland BioWorks – recently announced a nearly $51 million implementation grant made possible by the Regional Technology and Innovation Hubs program created by the CHIPS and Science Act of 2022. Vital Farms – expanding its supply chain to Seymour, Indiana with plans to break ground in 2025 and be fully operational in 2027. This will add 150 new jobs to the area. IBJ 250 – celebrating agbioscience representation on Indiana’s list of most prominent leaders! We are hitting the road for more! West Lafayette and Bedford – join us! Click here to register for these free events: https://agrinovusindiana.com/events/accelerate-2050-driving-growth-in-the-future/ QUADRANT is also back in September. Register here: https://agrinovusindiana.com/quadrant/Other episodes of Agbioscience mentioned:
Dr. Kofi Essel, Elevance Health - https://podcast.agrinovusindiana.com/public/215/Agbioscience-8a9a4381/6d11d81a Dave Roberts + Andrew Kossack, Applied Research Institute: https://podcast.agrinovusindiana.com/public/215/Agbioscience-8a9a4381/22551e39 -
Food – it's the only economy in the world that touches every person on the planet and it’s foundational to human health. So much so that leaders across the economy are uniting the power of food to drive health. It’s a new category of innovation called Food is Health and the nation’s 2nd largest health insurer, Elevance Health, is investing in this area. Dr. Kofi Essel, Food as Medicine Director at Elevance Health, joins today to talk food preventing, managing and treating disease.
Poor diet is one of the leading risk factors for decreased quality of life and premature death. A former pediatrician, Kofi talks about food as medicine being great healthcare and social drivers of health being critical to what happens within the four walls of a doctor’s office. He also stresses the importance of thinking beyond those experiencing food insecurity to nutrition security – ensuring access to the right types of food for their overall health.
The innovative intersection of human health and food is headed for a revolution – and digital is a big piece of that. Kofi gets into Elevance Health’s role in this space and bridging the gap between nutrition supply and demand. As he speaks on hunger as a pervasive problem in the United States, Kofi talks about the innovative solutions that will be needed – and that includes the AgriNovus HungerTech Challenge – designed to create digital solutions that increase access to food and nutrition.
How will we know if food is health is making a difference? Kofi talks health outcomes data, costs of healthcare and thinking about nutrition equity no matter your location.
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A team of researchers recently dug in to Indiana’s $69.6 agbioscience economy and its opportunities for growth well into the future – 2050, to be exact. Amanda Rose, agri-food systems lead for RTI International, joins us to elaborate on the newly released study, Accelerate 2050: A Vision for Indiana Agbioscience, and three defined opportunities for differentiated growth amid future uncertainty, including:
Farmer-Focused Innovation Food is Health BioInnovationWhy these opportunities? Amanda gets into the study’s methodology, marrying economic data with strategic foresight and creating the conditions for a future economy you want. These aren’t ideas bouncing off the wall but are grounded in existing assets that make Indiana unique. She also talks economic data, establishing a benchmark for future competitive analysis and how the data compares relative to other industries.
This study was largely about the future, so what’s ahead? Amanda talks about possible future scenarios for agbioscience on a global scale and the importance of operating and innovating at unique intersections to drive big outcomes – for people, plants, animals and the planet.
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Artificial Intelligence (AI) has projected to move from hype to help in 2024, generated by a shift in the global economy. There are tech companies taking that ambition and turning it into a reality and one of them joins us today. Dustin Sapp, CEO of Traction Ag, addresses farm accounting through technology, the sophistication of farming operations and how little of that innovation has hit farmers’ back offices.
How do farmers actually manage their books? Dustin says it’s a patchwork of solutions that take lots of time, spreadsheets and occasional uncertainty – something Traction Ag is well positioned to solve. He also gets into the vote of confidence from investors of late, all centered around the idea of improving the economic prosperity of farmers. Dustin also talks about their approach to responsible growth and building something that lasts so that farmers count on it as a trusted source for years to come.
In a tough time for innovators trying to fundraise, what is Traction Ag doing different? Dustin stresses the importance of demonstrating value, telling your story well and the vision you have for your business. How will AI create more help at the farmgate? Dustin talks about AI not being a hero for bad solutions and how his tech background has paved the way to the opportunities he’s had to date.
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Capital and science – two key ingredients that are shaping the future of the agbioscience economy. Dr. Jaleh Daie, Managing Partner of Aurora Equity, joins us today to talk about the state of risk capital in agbioscience, the round trip we’ve taken in the last six years and how it compares to other areas of investment.
With Jaleh’s rich background in education and focus on science, what unique opportunities have been created for her? She talks doing good for humanity, trailblazing for women in science and seeing innovation through a scientific lens. Jaleh talks investment in agtech being in the “early innings” and big trends getting a lot of traction – including biologicals, gene editing and artificial intelligence (AI).
Jaleh gets into digital and its potential to transform agriculture – from the farmgate to the dinner plate – and the opportunities to innovate in a tightening farm economy. She stresses the importance of understanding the needs of farmers and her excitement surrounding upstream innovation to create better margins and profitability for farmers around the world.
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Biologicals – the broad category of ag input products derived from living organisms – have experienced significant growth in terms of adoption and investment. An analysis of Pitchbook data reveals there have been more than 6,000 deals in the global ag biotech market over the past decade. One of those companies driving growth is Biodyne USA. This week, we are joined by their National Director of Agronomy, Bodie Kitchel, to talk Biologicals vs. Biostimulants and what’s driving growth in the space.
For Bodie, everyone’s “why” looks a little different when it comes to the adoption of biologicals and farm economics are certainly a piece of that. He gets into the farmer mindset around adopting innovation to leverage net farm income and Biodyne being an education company to help farmers learn where their dollar has the most value. Bodie also talks about needing economic impact right away but also balancing that belief with the value of economic impact in years two, three, four and five.
With his experience in ag retail, how has Bodie seen innovation evolve? He talks about positioning, investment and companies being afraid of the unknown. Looking ahead, Bodie talks about that fear being outweighed by the urgency around innovating – and Biodyne USA doing it with speed.
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June was a busy one! From a trip to the Animal Health Nutrition Technology and Innovation Conference in Boston to hosting college students at agbioscience companies across Indiana, Mitch Frazier and Cayla Chiddister look back at the past month, what’s happening and what’s ahead.
Hear from animal health innovators including Dr. Johanna Majamaa of GekkoVet and Celine Halioua from Loyal on bringing new solutions to market, the challenges they face and the opportunities that lie ahead in the future. We also dive into Elanco’s announcement of FDA approval for Bovaer, a feed additive for lactating dairy cows that reduces methane emissions.
We also welcomed nearly 30 college students from campuses across Indiana to tour agbioscience companies over the last month! Hear from Ball State chemistry student, Rilynne Puckett, on her experience and what she learned.
QUADRANT is coming July 17 in Indianapolis! Register here at agrinovusindiana.com/quadrant.
Lastly – Agbioscience is adding video! Watch, listen – whichever you prefer.
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There are over one billion cattle globally, emitting methane through a natural process called enteric fermentation. Reducing emissions have become a top target of innovators across animal health and one company out of New Zealand is tackling the challenge from inside the cow. This week, we are joined by Mark Weldon, chairman of Ruminant BioTech, to talk about their bolus – a slow-release device that sits in the cow’s stomach for up to six months and delivers high levels of methane knockdown (think over 70% across a 90-day window).
How was this bolus developed? Mark talks about the mini pilot that launched Ruminant BioTech and the growing conversation around methane emission suppression. He also gets into factors that are paving the way for innovations like this to emerge and creating value -- starting with the rancher and moving all the way through the food system.
What makes Ruminant BioTech different than other aiming to mitigate methane emissions? Mark talks about their differentiation, acquiring funding (good returns for doing good) and their plans to scale outside of New Zealand.
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Early identification of diseases in animals is critical to the future of the food system, national security and our ability to care for our pets. One company is harnessing the power of biology to accelerate identification and joined us from the Agbioscience Podcast Corner at the Animal Health, Nutrition, Innovation and Technology Conference in Boston. Eve Hanks, founder and CEO of MI:RNA Diagnostics, joins us to talk their biomarker platform reliant on microRNA that has the potential to transform the future of animal health.
Eve gets into how the platform works and success her team has experienced since spinning out of Scotland’s Rural College. She also talks the importance of partnerships to drive innovation forward.
With diseases like Avian Flu and African Swine Fever threatening the global food system, how can a tool like MI:RNA help? Eve talks combatting disease in animals and how an increased awareness of microRNA is driving interest in her team’s work.
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Innovation in the agbiosciences is foundational to life – and it’s only accelerating. From biotech to production, food is transforming; and today’s guest is leading the charge on a new way of producing protein. Daniel Russek, CEO of Atarraya, joins us to talk the idea of sustainability, what it actually is and thinking long-term to achieve meaningful outcomes in this space.
From greenwashing to social media allowing people to be “kind of informed” about the state of the planet, Daniel says sustainability has to coexist with strong economics. He dives into how he sees the future of food and Atarraya tackling the fastest-growing source of protein: shrimp.
Atarraya’s innovation in aquaculture has been evolving for over a decade at this point and Daniel talks about the best resource for developing their technology: conversations with people. And it’s paid off. TIME Magazine named Atarraya one of the top 200 inventions of the year. The team also was a gold recipient of The Edison Award; with all this momentum, where do they go next?
Daniel talks expanding production, the importance of partnerships and bringing food production back into its natural cycle.
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Labor remains one of the greatest challenges facing the economy. Solinftec is addressing the problem with autonomy and artificial intelligence focused on improving crop performance. Today we are joined by their Chief Global Strategy Officer, Leo Carvalho, to talk accelerating in a crowded market and creating a value proposition for farmers.
Leo gets into the company’s evolution since its expansion to the U.S. -- from developing technologies to identify problems to new solutions that also solve them. As a technology company, he also stresses the importance of creating concepts that are tested, refined and – candidly – co-created by farmers. The launch of their Solix sprayer addresses all the things Leo says Solifntec aims to accomplish: to create more food, sustainably, while also making the farmer more profitable.
As a seventeen-year-old Brazilian company that started in the sugar industry, Leo talks about lessons learned as they’ve grown and expanded into new markets. Farmers plant crops once a year, so listening to their needs is critical to timely success. Leo also shares Solinftec’s objectives for the future and how agtech will continue to evolve.
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It’s May in Indiana and major headlines abound as The Greatest Spectacle in Racing coupled with the Global Economic Summit (GES) put the state on the world’s stage – for racing spectators and innovators alike. Today, Mitch Frazier and Cayla Chiddister recap the month including major news in the agbiosciences from Elanco, Purdue, Elevate Ventures and Traction Ag.
Elanco and Purdue announced a OneHealth Innovation District as part of the company’s new campus west of downtown Indianapolis. The facility is designed to deliver and scale up innovation where industry and academia can collaborate including office, wet lab and incubator space. Elanco plans to also contribute up to $2M of initial funding to jumpstart a new Animal Health Ventures Fund to support early-stage innovators, in close coordination with the Indiana Economic Development Corporation (IEDC), to take advantage of available tools and programs that support startup activity in this space.
From GES it was also announced that Elevate Ventures will launch a new $100M fund focused on cross-sector innovation driven growth stage companies with a $500M total addressable market (TAM) or greater. The fund will commence formation in late Q2 with targets to make first investments in 2025.
Traction Ag also announced a $10M Series A round led by Cooperative Ventures and joined by Plymouth Growth and existing investors. The investment was designed to support platform development and business growth.
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