- Yorkshire entrepreneur Hannah Senior NSch has published her Nuffield Farming report ‘Innovating AgTech Entrepreneurship’, sponsored by the Elizabeth Creak Charitable Trust.
The full report is now published and available on the Nuffield Farming report library. A recording of Hannah presenting at the Nuffield Farming Conference can be found here.
During her Scholarship, Hannah travelled to New Zealand, Australia and the United States, in addition to conducting several visits in a further 11 countries via video call due to travel restrictions during the COVID-19 pandemic.
Hannah wanted to learn how to create a more vibrant ecosystem for AgTech entrepreneurs in the UK, understand beneficial support around entrepreneurship and how interactions between start-ups and farmers should operate.
In her report Hannah found that it was inappropriate to model AgTech entrepreneurship ecosystems on those found in Silicon Valley.
“Farming is a very different ‘problem space’ to computing or software,” she says. “AgTech innovation influences the food system, ecosystem and economic system, all of which are influenced by a complex set of interactions and feedback loops. This makes the impact of a new technology hard to predict.”
She identified a pattern which she named the ‘Chain of Extraction’ that happens at macro-level between the environment, agriculture, entrepreneurs and investors. “Despite both the two-way nature of the transactions and the many exceptions, overall benefits tend to accrue more in one direction than the other and this erodes one party’s ability to sustainably create value.
“Improving AgTech innovation requires greater awareness of this dynamic. It also needs creative approaches to align interests and address imbalances, paying attention to how risk, value creation and trust are created and shared.”
In her report, Hannah shares several suggestions, including involving farmers earlier in technology development, diversifying how early-stage investments are made and equipping people in AgTech with ‘Systems Thinking’ skills.
“Technology is only a partial answer to our problems. Changing less obvious things like how we solve problems, invest our capital and measure success will also be essential,” she concludes.
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