7 March 2023 | Münster
Question (S2B Presse):
Dear Dr Rossano-Rivero, you have been a member of the advisory board of a start-up company in the "AGRAR 4.0" field for some time now. We find that exciting: in terms of content but also because this start-up has no connection with Münster. How did it come about?
Response (Rossano):
Well, being involved in the start-up scene for many years by lectures, publications and events, both regionally and internationally, it does not surprise that start-ups will approach with a request for support or mentoring. I have served as a mentor already for a couple of start-ups in the region. However, I must be a little selective and watch out not to take on too many functions - in addition to my tasks at our university. In this case, however, I immediately accepted a formal role. I was and am thrilled to support these excellent people on their entrepreneurial journey.
Question:
Why?
Response:
For me, the company AgraCheck is a classic showcase and role model type of start-up because it has won quite a few well-known prizes and awards. Furthermore, I find it interesting to support a company that positions itself at the intersection of innovative ICT technologies and traditional industries, such as agriculture. The request was for support in the future elaboration of the business model. I took on this task gladly and with great pleasure.
It is also remarkable that it is a knowledge-based start-up from academia and that the players are all located in different places in Germany: Berlin, Leipzig and Munich. Other cities, like Osnabrück and Münster, are also part of the equation with the advisory board.
Question:
You say that AgraCheck has already received prizes and awards of high reputation. Is that so important? Doesn't a company prove itself by acting successfully on the market and being accepted by customers accordingly?
Response:
Yes, of course. Both is important. Through publicly valuable prizes and awards, a start-up enters into public awareness and into the focus of investors and VC companies and other potential stakeholders. It is also good to build a vital resource for start-ups - Legitimacy. AgraCheck has received quite a few such prizes. This proves that the world is enthusiastic and others see high potential in the start-up idea. In the case of AgraCheck, the business idea only came about as a result of such an event:
It is remarkable that the idea for AgraCheck came about in an innovation competition called "Deutschland 4.0". The Deutschland 4.0 Challenge is a nationwide innovation competition. In this competition, the concept of the idea providers was among the best six teams and thus was able to secure initial start-up capital. It was only after the innovation competition that the idea became a start-up project. I am always eager to continue these critical initiatives that are nationwide supported. It is essential to continue these initiatives that trigger people's interest in becoming entrepreneurs. Awakening the interest of university students to become entrepreneurs and start-up founders is quite a challenge; one cannot let this opportunity pass.
Question:
What exactly motivated the founders to start a business and continue after the competition?
Response:
Agriculture is currently facing many challenges: Climate change, dependencies on the world market, increasing administrative burdens, a highly regulated work environment, shortage of skilled labour, structural change in agriculture, intensified economic constraints, acceptance and a change in values and dietary behaviour towards animal welfare or more vegetarian/vegan diets, and last but not least the willingness to pay from each consumer when buying food.
The question is now: How will farms meet these challenges or even use them proactively? AgraCheck wants to play a role on this.
Question:
From your own perspective: How is AgraCheck taking a role in this environment?
Response:
The founders' claim is "Smart Farming - sustainable agriculture through digital technologies". In a nutshell, AgraCheck enables and promotes access for farmers to new agricultural technologies and solutions. Innovation and new technologies are also continuously being applied to agriculture. This concerns machines for field cultivation, fertilisers and bio-additives, and IT solutions for managing the farm. With AgraCheck, farmers can quickly and reliably find new technologies for their farms and make independent, well-founded decisions on their use.
AgraCheck thus not only benefits farmers and the inventors, developers and providers of new solutions but also makes a significant contribution to climate protection through the sustainable transformation of agriculture. Because only when new technologies reach the field can they contribute to sustainable agriculture.
Question:
What are your tasks as a member of the advisory board?
Answer:
University people and scientists often have excellent ideas and concepts from academia. On the other hand, such founders often have little experience in business model development and the strategic indicators necessary to obtain investments. I am talking about due diligence tools, M&A strategies or carve-out management as examples.
Accordingly, I also support and coach in preparation for hackathons, pitches or boot camps facing asset managers and other potential investors.
And additionally, we have implemented a whole series of projects in the S2BMRC that are tailor-made to support the mission of AgraCheck. E.g. ARDENT - Rural Entrepreneurship in Münsterland; Value and Future on Sustainable Entrepreneurship, the use of BlockChain in agrifood education, among other. These are examples that relate to entrepreneurship and prove a direct connection to the future of agriculture.
We also have competence in technology valuation. As S2BMRC, we have developed a tool that can be used to evaluate business ideas, technologies or even research results. The online version has been successfully distributed and sold for years by the major American provider "Technology Transfer Tactics". And those are precisely the tools that I also use to carry out my advisory board activities successfully.
Last but not least, I can establish some connections to potential partners and investors. AGRAVIS here in Münster, for example, would be a born partner for AgraCheck, in my view. It would be a strong Win-Win situation. And we have already realised projects for AGRAVIS in the S2BMRC.
We are also a centre embedded in an international network of around 140 partners around the globe. I can support the embeddedness of AgraCheck in this important international network of academic and non-academic partners.
Question:
When you realise projects for companies like AGRAVIS, doesn't it make sense to do such a project for AgraCheck itself?
Response:
Yes - that is exactly what has already been agreed for the current summer semester. We will design AgraCheck's internationalisation strategy with students from the MIMS "Master of International Marketing & Sales" and the "International Marketing" module in the Bachelor's degree. And since the advisory board work is purely voluntary, such a project also offers excellent synergies. The company benefits, and the students at our university come into contact with exciting start-up initiatives. That gives much room for new ideas. My own research focuses on the value of these learning experiences for students close to real entrepreneurs. In the same vein, entrepreneurs get close to the university, where they get fresh ideas, methods, and tools and where they can recruit fresh talents.
Conclusion:
Thank you very much, Dr Rossano, for these exciting insights. We wish you a successful and fruitful time in your further advisory board activities and the upcoming semester project.
Response:
Thank you very much - I am happy to keep you informed.