2024
Business models for accelerating agtech innovation through grower-driven testing and investment
Contributor/Checkoff:
Category:
Sustainable Production
Keywords:
Enabling technologyFeasibility studyField management
Parent Project:
This is the first year of this project.
Lead Principal Investigator:
Matt Meisner, Meisner & Northrup LLC
Co-Principal Investigators:
Project Code:
24-212-S-A-1-A
Contributing Organization (Checkoff):
Institution Funded:
Brief Project Summary:
The goal of this project is to evaluate farmer-led, on farm field testing networks that accelerate the development and adoption of new agricultural technologies (e.g. novel crop inputs and equipment) and increase the profitability of U.S. soybean farmers. Specifically, we will study the current landscape of such testing networks and provide a set of options and recommendations for the business models that could enable the growth and expansion of grower-driven on-farm testing.
Information And Results
Project Summary

Project Objectives

Project Deliverables

Progress Of Work

Final Project Results

Our research into field testing networks and their role in driving innovation revealed wide alignment around the importance of closely involving farmers in the innovation process, with on-farm field trial data in real-world production settings carrying significant weight with farmers as they evaluate new technologies and practices and adopt them in their operations. We conducted a detailed survey of existing on-farm field testing programs, from which we extracted several key insights about what is working well and where opportunities lie to improve and expand access. Expanded access to high-quality, affordable, on-farm field testing with farmers has the potential to greatly accelerate the pace of new technology development and adoption, and we present several concrete opportunities for how the industry could foster the creation of these opportunities. We also uncovered strong interest from farmers in engaging with new technology startups early, potentially as investors in, and/or advisors to, startups to help them tackle the right problems and gain access to valuable farmer insights and field testing environments, as well as to reward farmers financially. We present several specific opportunities to create this connectivity between farmers and the venture capital/innovation ecosystem along with details on how these models could be structured.

Benefit To Soybean Farmers

This project generated concrete options for how the industry can expand farmers' role in supporting startup innovation to tackle key problems that farmers face. If implemented, these options can accelerate the pace at which new technologies come to market, technologies that stand to improve farmer efficiency and profitability, and in some cases grow the demand for US soybean products.

The United Soybean Research Retention policy will display final reports with the project once completed but working files will be purged after three years. And financial information after seven years. All pertinent information is in the final report or if you want more information, please contact the project lead at your state soybean organization or principal investigator listed on the project.