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Articles by Startup Resources
Tough love: ag’s not perfect and neither are we
I firmly believe in and am passionate about the agriculture industry’s potential as a force for good. If I didn’t, I certainly wouldn’t have left the international development and social impact sector to work with the team at Tenacious Ventures and Agthentic. Agriculture not only feeds us and provides livelihoods, it can also offer solutions to the climate crisis. But, agriculture is not perfect. And realizing its potential to address climate change is not a foregone conclusion.
This year’s Top 5 podcast episodes from Agtech…So What?
It’s been another big year for the agtech industry, and we’re proud to have captured some unique stories, lessons & tips on the Agtech…So What? podcast. As a quick recap on the stats, we released 30 episodes featuring guests from 6 countries.
Clams and Lambs: possible impacts of a 20% drop in global demand for beef & dairy
Imagine it’s December 2023. You’re looking back on the year, and wow was it a crazy one for agriculture! It all started back in February when MCT (“mad cow disease two”) hit beef and dairy, sending shockwaves of concern through agricultural value chains. Though herds globally were susceptible, penetration rates remained in the very low single digits and containment happened rapidly, with unparalleled public-private sector coordination of biosecurity responses.
We Built an AgTech VC - what did we learn?
Three years ago, we launched Tenacious Ventures, Australia’s first specialist agrifood tech venture capital firm, with a blog post and newsletter titled, “Australia Needs an AgTech VC — So We’re Building One.” At the time, we had basically no idea how to find potential investors (in fact, we literally thought that posting that blog would lead to checks… hah!); weren’t familiar with common VC jargon (“con note” and “liq prefs” meant nothing); and could barely say our target fund size- $20M at...
How Sustainable Food Brands Can Build Trust
Tips and examples for navigating amidst a world of misinformation Editor’s Note: this guest post was contributed by Shanan Powell, an MBA candidate at MIT Sloan School of Management. Credit: Unsplash I usually start my morning by scanning my LinkedIn and Twitter feeds to catch up on what I missed, making me part of the 42% of millennials who get their news from social media.
Why Australia’s best-known economist says we need to be valuing natural capital on our farms
Matthew Pryor, co-founder of Tenacious Ventures and partner at the Agthentic Group recently interviewed Dr Ken Henry for the Agtech…So What? podcast. Image credit https://bit.ly/2HnpyG2 If you were to ask Dr. Ken Henry, Australian economist and former Treasury Secretary, what his most important work from 2008 was, you’d be surprised to hear that it had nothing to do with the Global Financial Crisis.
The sound of inevitability: the coming consolidation in Agtech
It’s coming up on 10 years since the ~$1B acquisition of the Climate Corporation by Monsanto, an exit that some claim was the catalyst for venture capital’s entrance into agtech. In reality, since 2005 there has been a steady increase in the number of venture capital firms (over 75, by our count) focused on AgTech. Growth in the number of VC funds in this area is attributable to several factors, in addition to the potential for exits that the Climate Corporation deal heralded.
The challenges & opportunities for biologicals in ag
Farmers are under pressure- from regulators, consumers, and rising input costs- to shift toward lower chemical intensity production, and “biologicals” are touted as one possible solution. In fact, buoyed by claimed benefits such as increasing soil health, sequestering carbon, and managing and mitigating abiotic stress, the global agricultural biologicals market is expected to grow from $8.5B in 2020 to nearly $27B by 2028.
How Silicon Valley Set Agtech Back A Decade
Silicon Valley, where I (Sarah) grew up, and I (Matthew) lived and worked during the dot com era, is known as the birthplace of the modern tech industry, responsible for the reinforcing loop of entrepreneurs and venture capitalists, and the resulting disruptions to most major industries.
Invest Like a Farmer: the surprising similarities between how farmers and venture capitalists think
As a venture capitalist working in agriculture, I’m constantly surprised by the similarities between how farmers and investors think. I came to agriculture in a roundabout way. I grew up in Silicon Valley and moved to Boston to study computer science and later work in the defense industry. It was during an accidental gap year in South America, where I was pulling weeds on an organic tomato farm in Argentina, that I first saw the potential to apply my systems background to agriculture.
Agritech: Australia’s next big export opportunity
Is Australia ready to be a maker, not just a taker? This article was originally published for the Cosmos Weekly’s Next Big Thing essay series In 2015, I had the opportunity to move to Australia from the US. As someone who had been studying and working in the rapidly emerging agritech space, observing its explosion onto the global tech scene in 2012, I was excited to move to a country with such strong foundations in agriculture and ag research.
‘Seaspiracy’ asks us to stop eating seafood… but doesn’t offer any real solutions for the food system
A total rejection of seafood won’t solve for sustainability in our food system Since its release at the end of March, Seaspiracy has made a splash: it is the 5th most watched movie on Netflix so far this month, and has been attracting attention through both social media and traditional news coverage. Having heard so much about it, my husband, an omnivore, and I, a long-time vegetarian, recently decided to check it out.
We’re hiring a Flywheel Operator…is it you?
We are the Agthentic Group, and we are on a mission to help agriculture transition to a carbon neutral and climate change resilient future. We do this by working with innovators, ideas, and emerging technologies across two businesses within the Group: Tenacious Ventures — Australia’s first and only specialist agrifood-tech venture capital firm. We’ve just closed Fund 1 at $35M, backed by tech, impact & agribusiness giants, and have made 6 investments to date.
Irrigation Technology on the Rise…but where’s the adoption?
The agtech revolution is permeating throughout all corners of agriculture. Looking across the challenges that farmers and the supply chain face, from labor shortages to environmental pressures to increased regulation, there are new technologies and companies coming to the market across the globe. Zooming in on one space in particular, irrigation technology, we see activities and interest heating up.
What drives farmers towards regenerative agriculture… or away from it?
Mark Wootton, “the carbon neutral farmer” at Jigsaw Farms, near Hamilton, Victoria For Victorian mixed farmer Mark Wootton, it all began simply enough: through a love of trees and the birds they attracted. He and his wife, Eve Kantor, enjoyed watching the different types of birds and recording what they found at their property, Jigsaw Farms, where they run 20 thousand sheep, 500 cows, and have timber and biodiversity plantations.
Small, yet mighty: how microorganisms will revolutionize food and agriculture
These days I spend a lot of time thinking about the future of food and agriculture. As an engineer by background, this can be uncomfortable- my natural tendency is to dig into the details, going down the proverbial rabbit hole to understand how something works or mentally jumping to evaluate the merits of possible solutions.
5 Themes from Sydney’s Second AgTech Meetup
This week’s NSW AgTech Meetup featured Francisco Caffarena, investment manager at BridgeLane and co-founder of AgTech startup SproutStack. Fran has an ag engineering and finance background, and now wears the dual hats of investor and entrepreneur. Several themes emerged during our QnA with Fran- here are a few: VC in Australia is improving, but AgTech, despite tons of events and a recent exit, has not (yet) taken off for VCs in Australia.
The biggest win-win food system opportunity that no one has solved: soil health
At a conference recently I heard someone say, “I’m a soil farmer.” I’ve heard this kind of thing before. Many cattle farmers claim to be “grass farmers” (or even soil carbon cowboys) rather than livestock producers. Soil is clearly part of the agriculture system, but is it really something that needs specific attention? And if so, what kind? The answer to the first question is easy: yes.
Age of Convenience: the impact of meal kit startups on the food supply chain
Editor’s note: this post was contributed by guest author Matilda Stump, Sustainable Business Development Coordinator at Rabobank, Australia. Matilda is passionate about food and the future of farming, and loves having one foot in the city and one foot on the family property in Northern NSW. Packaged produce as a way of cutting culinary corners? Yes please! In an age where convenience is king and people are increasingly looking for fresh, clean, traceable produce, meal kit startups are booming.
The Rise of Supermarkets: How did we get here?
Source [This post was originally published on The Food Rush. If you’re curious to learn more about supermarkets of the future, download the Future of Food Magazine on the App Store for iPad.] There used to be a time when buying local was the only choice. But for most of us, the days of local store-by-store shopping at different individual vendors are long gone. Spurred by technological and economic change, supermarkets have overtaken the local corner stores as the retailers of choice.
2016 Will be the Year We Solve Food Waste
2016 will be remembered as the year we solved the problem of food waste. Ok, that might be a bit optimistic. Globally we waste one-third of our food. In the U.S. 40% of food is wasted. This represents billions of dollars of lost value. Undoubtedly we still have a long way to go — but we are making meaningful progress.
5 Things I Learned from GrowAg 2016
Last week I had the opportunity to attend GrowAg, a top innovation summit for 100 of “agriculture’s sharpest, most innovative leaders”. The delegates, who had to apply and be selected, came from all over Australia and represented various sectors and specialties with Agriculture. I attended GrowAg on behalf of one of my clients, Full Profile, to talk about the potential of blockchains for agriculture, and give an overview of their soon-to-launch AgriDigital platform.
Edible Insects for Dinner and Discussion
Image Source How willing are you to eat a bug? For most Americans or Western Europeans, the answer is probably, “thanks but no thanks.” Yet the idea of using insects as food is starting to gain traction in the West. In fact, the odds are good that you could go to your local supermarket today and find several products that feature insects as an ingredient. And why not?
A Revolution to Celebrate: Bringing Africa the Green Revolution’s successes, and learning from its failures
Africa contains three quarters of the world’s poorest countries, and in 2010, a third of the population- the highest of any region in the world- was hungry. Ironically though, agriculture employs 65% of Africa’s labor force and accounts for 32% of GDP. Africa needs an agricultural revolution.
Rethinking the Cacao Supply Chain
The supply chain behind chocolate is unfortunately not as palatable as the bar. Yet many businesses see the supply chain as an area filled with opportunities to create a more sustainable and chocolate-filled future. The threats to consistent cacao supply, in addition to shifting consumer demands, have opened the eyes of both big players that depend on a reliable supply of cacao, as well as entrepreneurs looking for ways to build a more sustainable and ethical food system.
Corporate Venturing in the Food System: a solution, or a solution in search of a problem?
Innovation imperative Big food and agribusiness companies are pulling out all the stops these days to be more innovative. This is no different than in other industries: disruption is a real threat. Large firms are built for stability, not radical innovation. According to a study done by consulting firm Innosight, over half of the S&P 500 will be replaced — as in, gone, dead, disrupted- in the next ten years.
Corporate VC in the Food System
Who’s who and what are startups saying Corporate Venture Capital (CVC) is not new. Tech companies, energy companies, and multinational conglomerates have all had active venture funds for years. But in food and agriculture, corporate venturing is a relatively new phenomenon.
Big Food Needs the Tesla of Tastebuds
Consumers want it all: healthy, tasty, and ethically produced food delivered on demand with environmentally friendly packaging. And for no extra cost. Food companies are under unprecedented amounts of pressure. As they continue to lose market share to smaller firms, they’re doing everything they can to cut costs. Yet, adapting to changing consumer demands is tricky and expensive.
Change Agents Gather in Montana to Build the Future of Food
Highlights and Reflections from Riverbank Conversations 2017 Last week I had the opportunity to join over one hundred other food system innovators on the banks of Montana’s Gallatin River at the inaugural Food Crunch Riverbank Conversations Un-conference. True to it’s name, we gathered around fire pits, fly rods, and food trucks in informal conversations about everything from urban food systems, to genetic engineering, to novel financing mechanisms for regenerative agriculture.
QnA with a Corporate VC turned VC on Food System Innovation and More
Behind some of the US’ most forward-thinking food producers is Boulder Brands, whom you may have heard of via brands such as Glutino, EVOL, Smart Balance and Udi’s. The public company was acquired by Pinnacle in 2015 as part of the latter’s shift toward a health and wellness strategy. After the acquisition, Boulder Brand’s corporate venture capital (CVC) arm rebranded to Boulder Investment Group Reprise (BIGR) and became independent.
What I learned about agtech from 35 farmers
I had the opportunity to spend a few hours this week with the 35 farmers in Rabobank’s Executive Development Program. The group, Rabo’s 20th iteration of the program, ranged across ages, farm types, geographies, and technology literacy (and skepticism) levels. With increasing concerns from the tech world about farmer adoption and lack of exits, it was great to dig in to the realities vs. hype of the sector with the real experts. Here’s what I learned.
Sydney’s First AgTech Meetup: QnA with Michael Dean from AgFunder
We recently launched NSW’s First AgTech Meetup group with our first event, a QnA featuring Michael Dean, Co-Founder and CIO of AgFunder. AgFunder is the world’s largest community of professional agriculture investors, and Michael is an expert on the startup and investment landscape for AgTech globally. There’s a ton of excitement around AgTech in Australia these days, and we’re thrilled to be building a community in Sydney.
The uphill battle of ag innovation
6 key challenges facing agtech startups Agriculture is ripe for disruption. But there are common challenges that agtech startups around the world, and along the supply chain, are facing. To create viable solutions that solve real problems in the industry, we must overcome several challenges, starting with these six. The agriculture market, especially at the farmgate level, is fragmented across several dimensions, making it challenging and expensive for startups to acquire customers.
Video: It’s Time to Get to Work to Support Diverse Entrepreneurs
Today, we at the Case Foundation are excited to release a new video showing how founders everywhere are ready to get to work.
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