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According to Zion Market Research, the ag biological products market is expected to grow to $320 billion over the next decade. With a huge connection to agbioscience, what does it mean for farmers? What does it mean for agbioscience innovators? Kicking off season 8 of Agbioscience is BioBond CEO Marc McConnaughey. We get into:
What exactly is the bioproducts market and how is demand growing? How BioBond’s sustainable adhesives and protective coatings created a eureka moment for Marc as a serial entrepreneur. The Generation Food Rural Partners Fund and its partnership to help BioBond grow its business in rural Indiana. BioBond’s strategy as a technology execution platform that licenses from universities and how its position near Purdue has created opportunities for innovation + talent. Indiana farmers as a critical piece to BioBond’s future and how the state is a perfect storm of location, logistics and people to aid in their success. What’s ahead for BioBond? Hint: continued focus on the customer and of course, revenue. -
It’s the end of 2024 and it was a giant year across food, animal health, plant science, agtech and agriculture. This week, we recap big stories of the year based on Accelerate 2050 – AgriNovus’ study that showed that Indiana’s agbioscience economy grew by $6 billion in 36 months. The study also launched three forces of change and opportunities for industry growth. We are laying out the top stories of 2024 based on these forces of change starting with:
Farmer Focused Innovation
AGCO and Trimble come together via a joint venture acquisition – listen to Andrew Sunderman from AGCO here; Corteva Catalyst launches as a new investment and partnership platform designed to accelerate the development of early-stage, disruptive technologies for farmers – listen to Corteva’s Tom Green here; Gripp wins the Producer-Led Innovation Challenge to reduce administrative burden faced by farmers – listen to Tracey Wiedmeyer from Gripp here.BioInnovation
Primient and Sustainea announce $125 million investment to establish Lafayette, Indiana as the world’s largest Bio-MEG facility for bio-based plastics; AgroRenew breaks ground on an $83 million Indiana-based production facility to leverage the power of the region’s melon crop to produce bio-based plastics – listen to Brian and Katie Southern from AgroRenew here; BioMADE announces Indiana as one of six finalists to compete for the next chapter of bioinnovation infrastructure – listen to BioMADE’s Melanie Tomczak here.Food is Health
Anu wins the HungerTech Innovation to better connect food supply with food demand using technology – listen to Anu’s Scott Massey here; Purdue and Elanco announce the OneHealth Innovation District to establish a globally recognized research innovation district dedicated to optimizing the health of people, animals, plants and the planet – listen to Jeff Simmons from Elanco here; Corteva’s $25 million equity stake in Pairwise to accelerate gene editing solutions, providing growers with another critical tool to keep pace with challenges facing food production. -
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It’s been a tough couple of years in agriculture. Net cash farm income is expected to decrease nearly $6 billion in 2024; that follows a decrease in 2023 of nearly $58 billion. It’s a tough sled for many farmers and there’s companies who are working to bring innovation to farmers to overcome the headwinds that exist. Alex Russomagno, Senior Manager of Strategic Engagement for AGCO Ventures, joins this week to talk:
Where things stand for the agtech and ag equipment industry right now. How the acquisition of PTx Trimble and the launch of AGCO Ventures has launched a new wave of startup activity in agbioscience. Matching supply and demand of innovation in the industry; Alex also talks initial investments from AGCO Ventures. The AGCO Ventures Thesis and how agriculture’s downcycle impacts their strategy. What challenges are emerging that will require innovation for the farmer, quickly. Her experience with the power of partnership and investment between big companies and startups. The seismic shifts that will drive the next wave of innovation in agbioscience. -
Global market intelligence firm, IDC, estimates that artificial intelligence (AI) will contribute nearly $20 trillion to the global economy by 2030 and represent nearly 4% of global GDP. Today we are joined by an AI pioneer, tech diplomat and leader of Purdue University, President Mung Chiang. We discuss:
His journey as a three-time entrepreneur turned university president and how his experience has shaped his approach at Purdue Being on the cusps of the AI revolution, bringing new jobs to market and its elimination of old ones – and its potential to transform the physical world Balancing AI’s opportunity for productivity versus its potential to become an adversarial threat Connecting dots from the past to the future to develop job creation and prosperity in the state – and the critical role of agbioscience to make that happen Purdue has a top 5 college of engineering and a top 5 college of agriculture – and President Chiang talks about the university’s differentiation to drive big outcomes using demand-driven education President Chiang’s eye on the future of Purdue and its continued service to Indiana -
Tough commodity markets and a challenging ag economy is putting pressure on all elements of the agbiosciences. One of those is equipment. New data from the Equipment Manufacturers Association shows that tractor sales in the U.S. were down nearly 20% in the most recent month reporting. That's year over year. One entrepreneur is bringing to market a new technology to help those farmers maybe keep their tractors a little longer and better manage their fleet. Tracey Wiedmeyer, CEO of Gripp, joins us this week. We discuss:
The current state of the ag equipment market (not such a spoiler: it’s tough on everyone). Challenges facing farmers when it comes to the maintenance of existing equipment – from depreciation to staff coordination on-farm. The greatest opportunity for innovation in the ag equipment market right now and how Gripp was born. What it’s like for producers to interact with Gripp + their feedback. How their partnership with Purdue DIAL has accelerated growth on the farm. Bringing tech talent back to their roots. What’s ahead for Gripp. -
Food is the only economy in the world that touches every person on the planet. We are all connected to food, and one of the world's top marketers turned entrepreneur is now making the connection between farms, food, and people. Scott Nelson, CEO of Make Hay, joins us to talk all things consumers and connecting to the meaningful world of agriculture. We get into:
The existing gap between farms, food and people – and the opportunity to leverage today’s media landscape to connect all three. His time at Panera and how it shaped his viewpoint on storytelling for brands. How Scott’s background brought him to Make Hay + what the company aims to do. Make Hay’s relationship with Purdue’s DIAL Ventures and High Alpha, and how it’s accelerating their business. Scott’s vision for Make Hay – creating content for food transparency at scale, consumer awareness and farmers at the center of it all. Where Make Hay is at today and what’s ahead. -
It's almost Thanksgiving! Mitch Frazier and Cayla Chiddister sit down to recap November and get into:
- The election's impact on farmers and agbioscience innovation.
- Creating certainty for farmers in this new environment to plan for their operations.
- Bain Capital investment into a merger of Biodyne USA, BW Fusion and Agronomy 365.
- Entrepreneurship Week in Indiana.
- Quadrant coming up on December 4!
- Announcing a winner of the 2024 Producer-Led Innovation Challenge.
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New data from AgFunder News shows that ag biologics are used by just under half of U.S. farmers. Dr. Alex Cochran, CTO of DPH Biologicals, joins today to share his unique perspective on this growing market.
We discuss:
What are ag biologicals and their role in modern production agriculture. Biologicals as an important piece for growers as they manage a tough farm economy. The challenge of change when it comes to farming practices and the criticality of clearly describing ROI for growers. Movement in the biologicals market from big players like Corteva’s acquisition of Symborg and Stoller. DPH’s focus on differentiation and value to its growers + a deep dive into the conversations they’re having at the farmgate right now.The biologicals market has come a long way, but is it still early innings? Alex talks how the technology has evolved what’s on the horizon for DPH Biologicals.
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America just elected a new president and many states just elected new chief executives and legislators. What does this time of transition mean for ag, for agbioscience and for entrepreneurs? Sara Wyant, farmer, editor and publisher of Agri-Pulse, joins today to help us understand what’s ahead.
Sarah gets into regulatory topics – from immigration to sustainability – and talks through what the industry might expect from a second Trump administration, its new players as well as Congress. She also talks innovation, removing barriers to market entry and what lawmakers have to get done in order for farmers to plan for their operations.
Sarah founded Agri-Pulse with the idea that someone should be telling the story of how policy affects the hard work of farmers and, ultimately, the food we consume. With eyes on the future, Sarah talks what’s ahead for Agri-Pulse and what issues her team has an eye on headed into a new era of leadership in our country.
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Workforce development is a topic that tops the list of policymakers and business leaders across the country; but true change in workforce development requires more than policy or curriculum. Field Atlas is an online career exploration platform, coupled with the power of on-campus peer ambassadors, to connect the future workforce to careers across food, animal health, plant science, agtech and agriculture. Today we are joined by Ball State University student and Field Atlas Ambassador, Rilynne Puckett, to talk careers, discovering agbioscience and to answer a big question: what are young people looking for in their professional lives?
Rilynne dives into her accidental discovery of agbiosciences via the Field Atlas Company Tours program and how she instantly saw herself applying a chemistry degree to the industry. She’s been connecting with her peers on campus to share the agbioscience story – and talks their reaction to the opportunities in front of them.
What are college students looking for as the enter the workforce? Rilynne gets into striving for purpose, doing something you love and making an impact on our world.
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A new survey of agribusiness professionals found that more than 70% spend more than 11 hours a week collecting, collating and analyzing data. It’s a challenge being tackled by Brazilian company, Sensix, and CEO Carlos Ribeiro joins us today to talk data as a huge task on-farm and their role in optimizing decisions for farmers.
Tremendous troves of data exist on the farm and, surprisingly, Carlos says the problems facing farmers in the U.S. are much the same as they are in Brazil. He gets into decision science and stresses the importance of mindset for tech adoption – despite the size of the farm.
So how is Sensix uniquely solving this problem? A tech guy at heart, Carlos says he realized the amount of data needed to adequately manage farms. He tells the Sensix story, consolidating software and creating one interface for the farmer.
In a time of tight farm margins, tech adoption is a tough sell. Carlos dives into their mission for a clear return on investment and putting money in farmers’ pockets in the short and long-term. On his recent visit to Indiana, he marvels at farmers’ data logs, appetite for decisions and looks ahead to what’s next for Sensix.
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From the grand opening of BioBond's new Indiana location to the announcement of Sustainea and Primient's $400 million announcement, it's been a massive month for bioinnovation news. Mitch Frazier and Cayla Chiddister recap the month and look ahead to the rest of 2024 -- including AgriNovus' last QUADRANT of the year.
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The total healthcare spend relating to poor diet is quickly approaching $4 trillion annually according to the American Heart Association. This doesn't even include lost worker productivity. One of the key contributing factors to that is access to healthy foods. Scott Massey, founder and CEO of Anu, is an entrepreneur that unites the power of technology and health to bring a new category of innovation to agbioscience. He joins us to talk the access gap to nutrition in our country and Anu’s approach to nutrition – right at the point of consumption.
From perishability to socioeconomics and beyond, nutrition access has many challenges to overcome. Scott gets into how Anu has brought their innovation to market – from homes to larger community-based organizations such as hospitals, churches, schools and beyond. He talks balance between developing top-notch hardtech and building a business for scale – and emphasizing their mission to not build the biggest tech system for indoor farming, but one that is most distributed.
As the recent winner of AgriNovus’ HungerTech Challenge, a grant from the National Science Foundation and beyond, there is wind in Anu’s sails. Scott dives into what’s next, staying strategic and his advice to entrepreneurs who aspire to get started.
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Company culture is often referred to in business books and board rooms, but is hard to define. Beck’s Hybrids’ Bethany Gremel, Director of Brand Experience and Culture, joins today to answer a few big questions: what is company culture? How do you define it for impact?
Bethany gets into culture as a living organism that needs fed and its foundation being a series of behaviors rather than words. She also talks about culture and brand working together, how their team fosters culture at Beck’s and getting new people integrated into the company successfully – starting with their interview process.
How does culture keep going as employees age with the company? Bethany stresses the importance of loving and caring in the workplace and how what happens inside the company shows up on the outside of the company. Beck’s has expanded significantly over the last several years and as they’ve scaled, Bethany gets into the notion of “you cannot create culture, you have to catch it.”
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About 1.6 million barrels per day of petroleum jet fuel were consumed in the United States in 2023. That number is expected to increase to nearly 2 million barrels daily by 2050. Southwest Airlines is taking a bold move, migrating away from petroleum to sustainable fuels. Anthony Gregory, COO of Southwest Airlines Renewable Ventures, joins today to talk about its impact on agbioscience innovation, farmers and airline travelers in the future.
As one of the world’s largest airlines, Anthony gets into Southwest’s proactive approach to sustainable aviation fuel, their investment arm aiding new companies in this space and seeing agriculture and aviation industries come together. He also talks about sustainable aviation fuel as a new market for ethanol producers and the critical role of the Midwest economy – farmers, universities, large-scale airline hubs and more – to lead in this space.
So what will it take for sustainable aviation fuel to become a reality? Anthony talks economic and environmental sustainability, the current challenges facing SAF consumption and how ethanol producers can begin the process of increasing demand. He also talks alternative feedstocks and other byproducts in SAF production – and the Southwest Airlines investment approach to new technologies that that help bring innovation in this space to market.
Anthony talks through this journey with Southwest Airlines and their stance of being “one of many.” Airlines are trying to make a big leap in this space and he’s optimistic that small steps forward in this space will create long-term lasting impact.
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Corn prices hit a 4-year low in Q3, on the prospect of a record harvest. That data follows research and insights from USDA that expects net farm income to be down 25% year over year. One solution to this challenge is innovation. Tim Hassinger, CEO of Intelinair, joins today to share perspective on the market and innovation’s role in driving net farm income and operational efficiency.
Agriculture is a cyclical business and the industry is certainly going through it now. Tim talks managing today for how you want to come out of this economic turbulence, what he hears from farmer customers (hint: it’s realism) and how innovators should be operating for success.
Where is Intelinair finding their success? Fresh off winning AgTech Data Analytics Company of the Year at the AgTech Breakthrough Awards, Tim talks growing and scaling their business and their continued pursuit of adding tools to their suite that help the farmer make better decisions and – ultimately – save money.
How does the former leader of Dow AgroSciences and Lindsay Corporation feel about his time as CEO of Intelinair? Tim talks about new challenges, adjusting his mindset to meet the needs of the business and what has him excited as he looks to the future.
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Happy International Podcast Day! Mitch Frazier and Cayla Chiddister recap the agbiosciences in September and look ahead to upcoming events. Key takeaways include:
- Artificial intelligence (AI) moving from hype to help + the recent conversation at AgriNovus' QUADRANT with Kristen Owen (Oppenheimer + Co.), Aaron Schacht (BiomEdit) and Brad Fruth (Beck's Hybrids)
- The collaboration and joint venture between Corteva Agriscience and Pairwise (via Corteva Catalyst) -- a $25M investment to advance gene editing
- A recap of NASDA (National Association of State Departments of Agriculture) + audio with Chuck Magro (Corteva) and Jeff Simmons (Elanco)
- A preview of our December QUADRANT. Register here: https://agrinovusindiana.com/quadrant/
Past episodes mentioned:
Aaron Schacht + Eric Bonabeau (BiomEdit): https://podcast.agrinovusindiana.com/public/215/Agbioscience-8a9a4381/7d349933
Elliott Parker (High Alpha Innovation): https://podcast.agrinovusindiana.com/public/215/Agbioscience-8a9a4381/a43e4c6c
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It’s estimated that disease could cost the global food system up to 20% of production and one scientist is turning to the plant itself to change that. Dr. Kyle Mohler joins us today to talk his recent win at the Rally In-Prize Pitch Competition, his work to detect disease in plants much earlier and the Insignum AgTech’s startup journey in 2024.
Insignum AgTech’s traits allow for the farmer to detect when disease is coming – nearly a week before you would actually see symptoms – an opportunity for farmers to treat with precision and before things are past a point of no return. Kyle gets into the farmer feedback surrounding the technology in action and how it serves as a decision-making tool for their operations.
Fresh off a win at the Rally Innovation Conference In-Prize Pitch Competition, Kyle talks scaling via test plots across the Midwest. He also talks great milestones for Insignum AgTech in 2024 and where they hope to be headed in the future.
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The cornerstone of the agbioscience economy is production agriculture. Without farmers, no amount of agtech, animal health, or plant science would ever be applicable to feed and fuel this world. Today we are joined by Leah Anderson, SVP of Land O’Lakes and president of WinField United, to talk about her drive and motivation to help the farmer – and putting it into action.
Key Takeaways:
The farmer perspective headed into harvest including some stress surrounding commodity prices, input costs and declines in farm income levels. Challenges for Land O’Lakes and WinField United ahead of next growing season – from access to labor and investment decisions – and how they’re helping the farmer with those hurdles. Data as a decision driver and the Advanced Acre Rx program as a prescription suite of tools based on a farmer’s most pressing individual needs. The cooperative model as a differentiator for farmers and the emerging innovations that have Leah most excited – including AI biologicals and evolving new markets (Carbon, water, etc.). -
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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