Future of Agriculture FoA 230: Agtech is Booming in Brazil with Francisco Jardim of SP Ventures
“We’re going to bring a lot of new, interesting, innovations leapfrogging across the world.” - Francisco Jardim
Today we explore an international agtech powerhouse, Brazil. And we have the perfect guest to talk about the developing agtech ecosystem in the country, Francisco Jardim. Francisco is the Founding Partner at SP Ventures which invests across multiple industries, but as you’ll hear, he has particular expertise in agtech. Francisco has been investing with SP Ventures for over 13 years, and focuses on Brazilian startups.
“We’re leveraging technology, new digital technology, to be able to make less friction, less costs for farmers to be able to empower themselves through the use of their data and access more sophisticated financial services products.” - Francisco Jardim
Historically, mainstream multinational ag companies have used fairs and large sales teams to expose farmers to new technologies. Francisco shares that by virtue of the spread of connectivity and digital technologies, farmers are more open to new technologies without following the formerly used labor intensive method of selling. Start up companies are poised to employ strategies that don’t involve a lot of people or a large marketing budget and that lend themselves to be more covid friendly. Preconceptions of farming operations being innately archaic and resistant to digital technology are quickly being proven wrong with ever-expanding digital connectivity.
“We’re seeing the grandfather become a heavy smartphone user. We’re seeing the father become a very hardcore ambassador of new digital technologies and the son of course. What’s beautiful is these new technologies, they’re bridging the gap between the grandfather, the father and the son in the family business....it’s becoming transgenerational and even generational integrative as a function.” - Francisco Jardim
For new startups, Francisco recommends prioritizing extensive testing and identifying that you have “positive unit economics.” By focusing on these two priorities you avoid wasting a lot of money and generating “negative repercussions from your customers” while you troubleshoot your product. He also recommends paying attention to specific buying windows (planting, seeding, harvesting, etc.) to know when is the best time to reach out to the producers and what timing will provide them with the most benefit.
This Week on The Future of Agriculture Podcast:
- Meet Francisco Jardim, the Founding Partner at SP Ventures based in Brazil
- Explore the journey agtech startups are taking in South America and how they have found their niche during these Covid times
- Learn Francisco’s recommendations to becoming a successful startup
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We’re nearing the end of 2020 and I’m planning my 2021 content. Do you have suggestions for topics to be explored? Tweet them to me @timhammerich or email them to tim@aggrad.com.
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