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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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The year 2024 is where AI moves from hype to help in agbioscience. Today’s guest is bringing that prediction to animal health. Ben Allen, CEO of BinSentry, joins us to talk the biggest challenge facing animal producers; one that can be controlled? Feed. Specifically, how do you get the right feed to the right place at the right time?
With feed as a gigantic expense to producers, Ben gets into BinSentry’s technology creating economic efficiency and how better data allows farmers to see things they might not see coming. He also explains BinSentry’s tech platform and being able to manage variables they’ve not been able to before, ultimately impacting their bottom line.
How does BinSentry think about the next evolution of AI? Ben talks about the full automation of logistics and planning – and he says we are much closer to that than anyone thinks.
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The bioeconomy – where feedstocks from agriculture are transformed into new products – is poised to surge to more than $30 trillion dollars over the next two decades. The White House calls its potential “enormous,” and there’s an organization leading the effort to create infrastructure around this opportunity. Today, BioMADE Chief Technology Officer, Melanie Tomczak, joins us to tell us 1) what exactly the bioeconomy is, 2) the role of BioMADE in its growth and 3) the unique connection between people, plants and animals.
Where are the greatest opportunities for growth in bioinnovation? Melanie talks cross-sector collaboration and pushing things from early-scale to commercial scale – getting entrepreneurs out of the “Valley of Death.” She also gets into creating resilience and sustainability in U.S. supply chains in a post-pandemic world also experiencing political unrest and geo instability.
What’s ahead? BioMADE recently named six states (Indiana being one) to a short list of geographies that could fill a need that doesn’t exist in the US today: allowing innovators to start the scale-up process without the investment into new facilities, allowing for emerging technologies and products to flow through the U.S. more quickly.
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From food production to R&D in plant science and animal health, agbioscience is a capital-intensive business. This week, we are joined by Growers Edge Chief Commercial Officer, Todd Robran, to talk reducing risk for farmers, partnerships with ag retailers and how models could be shifting to reward growers with lower rates for more productivity.
Todd also gets into data as a differentiator when it comes to lending and risk management, the current challenges in the agbisocience landscape – from tight commodity markets to interest rates – and how Growers Edge is navigating those waters. He also talks backing innovation for farmer confidence to drive efficient decision-making and creating incentivize gpt farmers alongside ag retailers.
As experts in fintech, how does Growers Edge see themselves when it comes to the adoption of new and emerging technologies? Todd talks about where the company has been, where it’s headed and how he sees the next chapter of agtech coming to fruition.
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The rise in alternative foods has become a growth driver for the food industry at large and has created new opportunities for innovators and consumers to experience new foods, alike. This week, we are joined by Maizly CEO, Tim Leclercq, to talk about the most abundant crop in the world being transformed into a new drink: corn-based milk.
From taste to mouth feel, Tim gets into Maizly’s differentiated product and functionality. He also talks about its environmental impact versus other milk alternatives and Maizly’s commitment to sustainability – from product creation to packaging.
Why milk? And why corn? Maizly’s founding expands well beyond a business getting off the ground. Tim discusses their passion project in Sub-Sarahan Africa, nutrition access for infants as a challenge and their ability to deliver life-saving solutions to young babies.
As Tim looks ahead at Maizly, the U.S. market is on the horizon; so what’s next? He talks working with corn growers, who is driving the next wave of food innovation (hint: he thinks there is a lot of smaller competitors coming) and when Maizly will hit store shelves and e-commerce sites near you.
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It’s the end of the month, so you know what that means. AgriNovus CEO, Mitch Frazier, sits down with Cayla Chiddister to recap Indiana’s agbioscience trip to Brazil and Mexico with Governor Holcomb, creating new opportunities and driving economies forward.
He also gets into big announcements and items on the move as it relates to bioinnovation, including an investment announcement from Liberation Labs and conversations with BioMADE.
Innovators also made big moves this month and Mitch gets into students winning big at the Indiana Soybean Alliance’s Annual Soybean Innovation Competition. And oh yeah, we’ve got details on this year’s HungerTech Innovation Challenge winner, Anu, and their unique value and potential to deliver nutrition to homes across the world.
Also, an invitation for college students over the age of 18. Join us for upcoming Field Atlas Company Tours coming up in May and June. Learn more and register here: https://agrinovusindiana.com/2024/04/09/field-atlas-agbioscience-company-tours/
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Delegates from Indiana’s agbioscience sector traveled to Brazil and Mexico this month alongside Governor Eric Holcomb as the minutes tick away on his leadership of the state. Courtney Kingery, CEO of Indiana Corn Marketing Council and Indiana Soybean Alliance, joins Mitch for this episode from Mexico City to discuss the trip, its findings and Indiana’s unique advantage on a global stage.
Courtney talks Brazilian companies seeking to understand the U.S. market, and the shared opportunities and challenges for farmers selling commodities in Mexico. There may be a cameo in this episode – shout out to Governor Holcomb – and Courtney talks through how trips like this one shape the future of our state’s economy.
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Planting season is nearing in North America and as farmers head to the fields, they’re doing so in a tough global market for agricultural commodities. Those markets have an impact on nearly every facet of our daily lives. Today we are joined by Dr. Scott Irwin, author and Laurence J. Norton Chair of Agricultural Marketing at the University of Illinois, to share his market perspective (it’s on the side of bearish) and what he sees ahead.
How low for how long? That’s a big question for the markets and one Scott dives into during the discussion. He also talks about his book, Back to the Futures, looking at the ag markets as an implication on the broader economy and educating a widespread audience using stories from his childhood on an Iowa farm.
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We are living in a time of innovation crisis where most innovation isn’t driven by large corporations despite them being managed better than ever before, says High Alpha Innovation CEO Elliott Parker. One day ahead of his new book release, The Illusion of Innovation, he joins us to get into how corporations equipped for efficiency losing their resilience and why it’s dangerous to advancing innovation.
Now this isn’t a hot take: Elliott believes in efficiency, but not as a lone strategy. He talks about controlled chaos, a systematic approach to experimentation and uncovering ideas to challenge things we think we know.
So what do companies do? Elliott talks new funding mechanisms, finding the best home for innovations to grow and being contrarian to win over the long-term.
The Illusion of Innovation comes out tomorrow, April 16. Learn more here.
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Agbioscience is the only economy in the world that touches every person on planet, every day, given that it centers on food. Today we are joined by Lorelei Begin, Vice President of North American Retail for NielsenIQ to talk trends shaping food and what’s ahead for grocery store shelves in 2024.
From ingredient labels being more closely examined by savvy shoppers to the uptick of wellness-related products gaining more traction, Lorelei lays out what is driving consumer behavior and purchase patterns. She also gets into data creating insights for food companies to get the ultimate in-store commodity: shelf space.
Mitch and Lorelei take time to walk through consumers’ increased focus on health, GLP-1 drugs, how it’s shaping what goes in grocery carts and the food system’s response. How does a focus on health function in a tightening economy? Lorelei says food is first and a “better for you” lifestyle is staying resilient in these times. She also looks ahead to trends we could see impacting the food space and how that impacts consumers – no matter their budget.
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As we head into the spring planting season, there is much focus on technologies and innovations that will enable producers to drive returns in a tightening farm economy. Andrew Sunderman, Join Venture Transition Lead for AGCO, joins today to talk about their new JV with Trimble and having an innovation ecosystem ready to serve the farmer – no matter how or what they’re investing in for their operations during any given year.
In a time where it could be easy to say no to new tech or innovation, how does AGCO differentiate? Andrew talks control and accuracy, usability and optimizing outcomes. From their retrofit tech approach that helps to leverage smaller bets on-farm to improved performance of current equipment, he gets into solving problems that have never been met before and how the joint venture with Trimble will add continuation to their work.
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Fresh off a plane from the World AgriTech Summit and following a keynote address on food security as national security, we are recapping a gigantic March in agbioscience. From Corteva’s big news in San Francisco last week to Indiana hitting the short list for BioMADE, we cover the latest industry topics and look ahead to what’s coming.
Show Notes:
Food Security as National Security Episode with U.S. Senator Todd Young: https://podcasts.apple.com/us/podcast/253-food-security-is-national-security/id1412179095?i=1000627443801
QUADRANT 7/17 registration: https://agrinovusindiana.com/quadrant/
Field Atlas: https://myfieldatlas.com/
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On the ground at World AgriTech in San Francisco last week, Corteva announced the launch of a new investment platform forcused on bringing to market agricultural innovations that advance the company’s R&D priorities and drive value creation. We caught up with Tom Greene, Corteva’s Senior Director of External Investment, to talk through how the platform is designed, why it’s launching now and what it will mean for farmers in the future.
Tom talks through the areas of focus for Corteva Catalyst and the types of companies that would be a great fit for the platform. Engaging in technology – no matter the stage – is the approach and he talks about the criticality of their partnership with Corteva’s larger M&A team to drive meaningful results.
Corteva enters the market with this program at a time when commodity prices are low, investment in agricultural innovation is down and so the question has to be asked – why now? Tom talks about the long-term view that Corteva Catalyst will take, the excitement of being in agbioscience (despite the volatility) and what he envisions for the program in the future.
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The connection between agbioscience and human health has become undeniable and in the case of Indiana – it's a differentiator. Today we are joined by Vince Wong, the brand new CEO of BioCrossroads to talk life sciences and extending the state’s leadership to drive growth.
Vince talks about the challenges facing Indiana, where we are uniquely positioned to lead and the criticality of collaboration to elevate the state’s profile. Of course we also dive into the idea of plant, animal and human life sciences coming together to create new biotechnology innovation. Vince scratches the surface on what’s possible on the heels of Indianapolis’ designation as a U.S. Federal Tech Hub.
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As a kid from Ohio that went to Purdue University and then worked for DuPont, Frank Klemens’ career has taken a trendline path to his role at Big Idea Ventures today. He joins this week to walk through their General Rural Partners Fund, taking innovation from university shelves and creating new companies in one of our country’s most untapped resources: rural communities.
How does Frank and his team match innovation to the right community? Frank talks customers driving outcomes, the importance of corporate partnerships and the growing list of universities partnering with the firm to create new companies. He also dives into trends in IP across food and agriculture – including cellular meats, bio-based materials and animal management – that are creating a better rural America.
Looking ahead, how do you create technical companies in rural America that also attract investment? Frank talks about Big Idea Ventures’ secret sauce, making food and ag an investment clear of confusion and their call to the rest of venture capital: come join us, we welcome your competition and it’s necessary to feed a growing world, sustainably.
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From major companies to startups, one thing holds true from Amazon Web Services: they start with the customer in mind and work backwards. This week, we are joined by an agtech veteran and now the company’s Head of Worldwide Business, Agriculture, Elizabeth Fastiggi. She dives into their service across the whole value chain, how companies use AWS and the role of artificial intelligence (AI) in its stages of early adoption.
Elizabeth also talks new applications and ensuring innovation is accessible. She talks Amazon’s Project Kuiper to increase global broadband access, providing service to early customers by the end of 2024 and agriculture’s opportunity to be in the midst of the early customer base.
As an environmental science major, did she ever think she’d be here? Elizabeth gets into spotting the opportunities to make a difference using innovation and how she sees the future of agtech.
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Doing good by doing well – it's a concept the AgriNovus Indiana team embraced when the HungerTech Innovation Challenge was launched. Three years later, it’s still going strong; and new solutions are hitting the market that better connect food supply with food demand.
The 2024 HungerTech tasks innovators with developing market-driven tech models that ensure increased and equitable food distribution that is both environmentally sustainable and economically viable. The winning team will receive $25,000 to help accelerate commercialization of their solution.
Solutions could find, but are not limited to, opportunities for innovation in the following areas:
Infrastructure - current critical inefficiencies exist in capturing, managing and redirecting surplus food from points of excess – such as producers and retailers – to communities grappling with food insecurity (this is exacerbated for perishable goods). Forecasting - deployment of tools for accurately forecasting the production of surplus food and quantifying demand from food-insecure populations have significant deficiencies. Preservation - there are shortfalls in current food preservation technologies to prolong shelf life of perishables without detracting nutritional value or safety.Registration to join this year’s HungerTech Innovation Challenge closes March 12. Learn more and connect with Geoff at agrinovusindiana.com/hungertech.
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What exactly is the microbiome? And why is it important when it comes to animal health – both in livestock and pets? All those questions and more get answered this week as we are joined by Aaron Schacht, CEO, and Eric Bonabeau, CTO, of BiomEdit. They talk the role of artificial intelligence (AI) in microbiome science, the intersection of human and animal health and new partnerships paving the way for the acceleration of innovation.
From collaborative partnerships with Nutreco and funding from The Bill and Melinda Gates Foundation, what’s ahead for BiomEdit? Aaron and Eric get into new challenges, leveraging the microbiome to reduce methane emissions in cattle and taking advantage of studying things in animals that can be translated to humans.
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