Alignment of agtech with the needs of producers
This is Tim Hammerich from the Ag Information Network with your Farm of the Future report.
Despite the economic concerns, there is still plenty of venture capital to invest in agricultural startups. Thrive Agtech founder John Hartnett says what holds agtech back more than anything is the alignment between farmers and founders.
Hartnett… “There are a lot of entrepreneurs running around with technologies looking for trouble. So it’s really kind of an alignment of let’s solve the farmer’s problem rather than seeing what a technology can do. So I think alignment is kind of one of the key things there.
One thing that blocks this alignment is the ability of new startups to build trust directly with farmers.
Hartnett… “Farmers have built relationships with people they do business with not just for years, but decades and generations. And it’s really hard for a young whip snapper startup to knock on the door and build that. So I think getting to market is the biggest challenge that most startups struggle with.
According to Hartnett, these are areas that Thrive is helping to bridge this gap between agricultural technology companies and agricultural producers.
Hartnett… “Go where the farmers are. And that’s why we work with a lot of top growers and you know, big organizations like Taylor Farms, Driscoll Berries, etc., who are direct relationships there. And I think that will be a key part of growing and scaling businesses. »
Thrive is hosting the Global Impact Summit in San Jose on November 17.