Agtech Action | Week of 11.13.21 - 11.19.21
Agtech Action is a weekly newsletter highlighting current events in the world of agtech, and some light-hearted commentary
The Deere strike is over, food and agtech inventions make 2021 TIME 100 Best list (congrats SAVRpak), and Starbucks tests alt milk. A big partnership between a large software company and another large crop science company, a solar garden in Colorado and could venture debt be a financing option in agtech? The theme of the agtech week reveals, in my opinion, the key facet of the Bayer Crop Science/Microsoft partnership and illustrates a mindset shift required to address food and agriculture issues—open innovation. You have to be excited about that and this week’s agtech news!
Food and the World:
Report: John Deere considering more overseas production as U.S. strike lingers
Industry leaders say infrastructure bill will bring needed investments
Inflation continues hot for food
Cattle producers ask: Where’s the beef profits?
Biden’s climate goals don’t call for less meat production
Meat producers group vows to meet Paris Agreement climate goals in 2020s
Increased government labeling favored by those who consider sustainability a top priority
Tyson Foods Sees Upbeat Sales as Meat Prices, Restaurant Demand Jump
John Deere reaches third tentative agreement (0:30 mark)
Rural population loss, between 2010-2020 (0:50 mark)
Biden holds virtual meeting with Chinese President (0:05 mark)
U.S. to allow pork plants to operate faster in trial program
With aquaponics, growers are charting a self-guided course to community improvement and uplift
90% of consumers say sustainability in produce packaging is very important
Investment Advice for A Start-Up Beef Herd
Infrastructure Package is ‘Monumental Step Forward,’ says Biden
Report: Low carbon footprint to boost sales of packaged fresh fruits
Deadly flooding and landslides in Canada (0:05 mark)
U.S. Senator Introduces Bill to Block Brazilian Beef Imports After 'Mad Cow' Reports
Deere strike to End as Workers Vote to Approve Contract
Brazil’s Amazon beef plan will ‘legalize deforestation’ say critics
Vietnam reconsiders methane-emitting rice amid climate crisis
Rabobank: Cost Inflation to Impact Global Protein Supply Chains
WFP launches program to support entrepreneurs in South Sudan
Vilsack on Thanksgiving dinner supply and demand (Thanksgiving dinner cost to rise 14%, 0:35 mark)
Agtech in the News:
Beyond Meat stock tumbles 17% as analysts worry about the company's long-term growth
Starbucks tests alt milk from unicorn startup Perfect Day
A Novel Pilot Brings Vertical Farms to Public Housing
How a Carbon Price Could Gut Animal Agriculture without Taxing Farmers And Ranchers
Food & Ag-Tech Companies Make TIME’s Best 100 Inventions of 2021 List (and the Sustainable Agtech Challenge winner SAVRpak makes the list!)
At COP26, investors steal the stage from diplomats
Benson Hill Announces Third Quarter 2021 Financial Results
African Startups Are on the Rise. Here’s Why
China Plans Overhaul of Seed Rules to Pave Way for GMO Approvals
Benson Hill Announces ‘Crop Accelerator’ to Supply Massive Demand for Plant Meat
This Colorado 'solar garden' is literally a farm under solar panels
Online Mapping Tool to Accelerate Access to Critical Data on Agriculture Commodity Supply Chains
Craving locusts or larvae? The E.U. is approving insects as food.
Signify launches virtual Center of Excellence for smarter, more sustainable urban vegetable farming
Bayer announces partnership with Microsoft to develop agriculture-focused tech tools
10,000-Pound Robot Taking on One Of Ag’s Biggest Challenges - Weeds
Beck Ag accelerates focus on driving performance through execution excellence
Fun:
Reese’s Thanksgiving pie sells out (1:10 mark)
Technology will create natural gas from cow manure at Oakridge Dairy in Ellington
The Forgotten Chinese Chef Who Taught America to Stir-Fry
How New Mexico chiles ended up on the space station
McD’s celebrating 50 years of Egg McMuffin (1:15 mark)
Asian honeybees scream in order to defend themselves from Murder hornets (1:05 mark)
Helpful Resources:
Introducing Harvest Terms Financing
Research Associate, Fermentation & Microbiology (job opening with Better Meat Co.)
Openings at various agtech startups (courtesy of Trendlines)
The Used Tractor Market Is Far wilder than the Used Car Market
Private Fund Strategies Report (PitchBook resource)
Family Council Creates Farm Business Transparency
Interesting Reads:
Why vegan junk food may be even worse for your health
We Built an AgTech VC — what did we learn? (great insights from Agthentic)
What the world can learn from Britain’s humble hedge
Europe's butterflies are vanishing as small farms disappear
John Deere and UAW reach new 6-year deal, ending month-long strike
Opinion: This one goes out to every whiny brat restaurant customer
Covid-19 safety measures may also have reduced our risk of contracting a foodborne illness
Plant based proteins taste test
Preparing for Sustainable Beef: Two Conditioning Challenges Changemakers Face
Wisconsin Farmer Brad Clark Shares Climate Positive Tips For Producers, Trusted Advisers
Why Animal Agriculture is Not the Leading Cause of Climate Change
Livestock Haulers Secure a Win in House Infrastructure Bill
Don’t Underestimate Local Knowledge Of Agriculture In Dealing With Climate Change
New emails shed light on meat company CEOs’ pandemic lobbying
Why are consumers buying fewer plant-based meat alternatives?
Hangzhou citizens can use their mobile phones, and robots to plant vegetables
Refiners Relationship with Ethanol Continues to Be Faithful
Finance:
CDPQ launches timber partnership with 76k-acre Georgia deal
Geosys Emerges as Key Player for Geospatial Analytics in Global Agriculture
APAC family offices look to increase allocations for agriculture
Venture Debt in Life Sciences (an interesting finance option for agtech?)
Autonomous tractor maker Monarch raises $61M
Hydrosat closes another $10M in funding for ground temperature analytics product
HNRG rebrands amid broader Manulife reorganization
Gunn Agri Partners hits A$100M first close on TFP vehicle – exclusive
Bits X Bites’ Second Fund Hits Oversubscribed Final Close At $100m, Makes Four Investments
Plastomics Secures $7.1 Million in Series A Funding
$2.1 million Cowra glasshouse set to revolutionise crop and pasture research
New Partnership Model Sees Wheatsheaf Rebrand as Grosvenor Food & Agtech
Bioventure Sundew Acquires MicroSynbiotiX And Completes €1.4M Funding
ADM Invests in and Expands Partnership with Farmers Business Network
Agtech Theme of the Week: Open Innovation
The big news of the agtech week was the announced partnership between Bayer Crop Science and Microsoft. This partnership is aimed at developing agriculture-focused tech tools. The importance of this partnership is not what they are planning to do, but the organizations that are doing it—a large international technology provider and an international crop science conglomerate.
Every week, the news highlights the continued issues in food and agriculture—from food access, technology adoption, rural connectivity, among others—and this partnership recognizes that those solutions may come from outside of traditional food and agriculture stakeholders. The concept of open innovation, that innovation comes from anywhere and anyone, is what prompted this partnership. Being open to the largest technology provider, outside of agriculture, developing technology solutions specific to agriculture is the type of mindset the food and agtech ecosystem needs to adopt to accelerate innovation. Perhaps the next wave of innovations for food and agriculture will come from outside traditional ag ecosystem, from ancillary industries like mining, materials, and petrochemicals, or verticals like telecomms, aerospace/defense, and supply chain/logistics. Open innovation is not only an objective, but a mindset. I am excited to see where this Bayer/Microsoft partnership goes and for other partnerships like these to be announced!
Stay safe, warm and have a wonderful Thanksgiving week.
BD
Brandon Day is the Chief Operating Officer of the Yield Lab Institute, the think-tank, non-profit arm of The Yield Lab global network of venture capital funds and accelerator programs.
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