Us Agtech Clusters: Advancing Agribusiness and Food Processing 01 Introduction

AGTECH: ADVANCING AGRIBUSINESS AND FOOD PROCESSING US CLUSTERS

TABLE OF CONTENTS

INTRODUCTION 2

INDUSTRY OVERVIEW 4

US AGRICULTURAL TECHNOLOGY CLUSTERS 6

ESTABLISHED CLUSTERS 8 California 8 North Carolina (Research Triangle) 10 Missouri 12 Colorado 14 Illinois 16

EMERGING CLUSTERS 19 Minnesota (Minneapolis/St. Paul) 19 Indiana 20 Wisconsin 22

METHODOLOGY 25

HOW AUSTRADE CAN HELP 26

US AGTECH CLUSTERS: ADVANCING AGRIBUSINESS AND FOOD PROCESSING 01 INTRODUCTION

The United States (US) is the third largest agricultural producer in the world with total revenue of US$183.7 billion in 2016.1 With more than 2.2 million businesses, the agriculture sector and its related industries generated US$2.5 trillion in 2016 and accounted for 11 per cent of total US employment.2,3

Innovations in animal and crop genetics, chemicals, robotics, global positioning systems (GPS), imagery, sensors and the use of big data have driven changes in the American farm sector, causing total farm output to more than double between 1948 and 2015, even while the amount of land and labour devoted to farming declined.

Much of this innovation has been driven by large multinational companies seeking to make their global businesses more efficient and more sustainable. More than a third of the world’s top 50 global food and beverage processing firms are headquartered in the US, including Coca-Cola Co., General Mills, Kellogg, Mars Inc., Mondelēz International, Inc., and Pepsi Co. These companies invest heavily in research and development (R&D), and several have established venture capital arms to invest in startup companies advancing cutting- edge technology for use in agriculture.

Australian firms are well positioned to take advantage of the thriving ecosystem of agricultural technology (agtech) innovation in the US. Many Australian firms have existing relationships with US industry leaders and new entrants can benefit from Australia’s strong reputation as a world- class service provider and partner in agricultural research and commercialisation of the next generation of agtech also known as ‘Agriculture 4.0’. Many have already had success. Australian agricultural leader Nufarm Ltd. is one example. With its North American headquarters in Illinois and a research facility in North Carolina, Nufarm has established a strong and productive US presence.

This report provides an overview of the rapidly expanding agtech sector in the US with a focus on eight geographic clusters that are established or quickly emerging centres of innovation. Distributed across the US in geographically different regions, these clusters share three key traits that are central to their success: the presence of diverse, educated workforces with expertise in technology and/or agricultural production, access to world-leading research facilities and universities, and readily available funding sources — both public and private — to fuel innovation and business development.

02 03 INDUSTRY OVERVIEW

Rapid population growth, increased urbanisation, and Some regions of the US have adopted the terms mounting stress on natural resources have increased ‘agbioscience’ and ‘agbiotech’ to refer specifically to the need for agriculture to become a more efficient, biotechnologies that have applications in agriculture. sustainable industry. Technology startups have emerged This report will include biotechnologies within its to meet this need, and industry leaders have substantially definition of agtech for the sake of simplicity. increased their own R&D activity to keep pace.4 At In 2017, global investment in agtech totalled US$10.1 the same time, investors have come to recognise the billion, up nearly 30 per cent from 2016.6 The US potential profitability of transforming the globe’s US$3.2 continues to dominate the market, accounting for trillion agriculture market and have begun investing 42 per cent of deal activity and 45 per cent of all capital to boost innovation in the sector.5 funding (approximately US$4.5 billion).7 Investors in Agtech describes innovative technologies than can be the US include mainstream tech venture capital (VC) applied to improve crop yield, increase supply chain and agtech-focused funds, as well as state-backed efficiency, or otherwise increase the productivity at government funds, pension funds, strategic venture every stage of the agriculture value chain. Many new arms of major corporations (for example, Monsanto technologies also strive to reduce the environmental Ventures) and accelerators. Notably, US investors and social costs of agricultural production, or to have demonstrated a greater appetite for early stage promote wellness and nutrition by rethinking how food companies relative to their international peers. A is produced and consumed. growing pool of state, federal, and corporate grants is also available to support emerging technologies, Agtech is a broad category that includes innovations further benefiting early-stage companies.8 in seed genomics, agrochemicals and fertilisers, and animal feed, as well as drones, predictive analytics, land-use mapping software and other technologies that improve asset productivity and the sustainability of agricultural operations. Likewise, innovative ingredients and supplements, food waste monitoring software, and nutrition technologies — sometimes described as ‘foodtech’ — all fall under the banner of agtech.

04 US AGTECH CLUSTERS: ADVANCING AGRIBUSINESS AND FOOD PROCESSING What is agtech?

AG BIOTECHNOLOGY: INNOVATIVE FOOD: On-farm inputs for crop & animal ag, Plant-based meat, cultured meat & dairy, includes genetics, soil microbiomes, breeding, novel ingredients, nutraceuticals or animal health innovative supplements

FARM MANAGEMENT SOFTWARE, IN-STORE RETAIL & SENSING & IOT: RESTAURANT TECH: Ag data capturing devices, decision support Shelf-stacking robots, 3D food printers, software, big data analytics POS systems, food waste monitoring IoT

FARM ROBOTICS, MECHANISATION EGROCERY: AND EQUIPMENT: On-demand grocery delivery, including On-farm machinery, automation, drone farm-to-consumer marketplace and manufacturers, grow equipment speciality providers

BIOENERGY & BIOMATERIALS: RESTAURANT MARKETPLACES: Non-food extraction & processing, feedstock Online tech platforms delivering food technology, green-chemistry, cannabis from a wide range of vendors pharmaceuticals

NOVEL FARMING SYSTEMS: ONLINE RESTAURANTS AND MEAL KITS: Indoor farms, aquaculture, insect, algae Prepared meal delivery, often based on speciality & microbe production diets, or pre-portioned ingredient kits to cook at home

AGRIBUSINESS MARKETPLACE: HOME & COOKING TECH: Commodities trading platforms, online input Smart kitchen appliances, nutrition procurement, equipment leasing technologies, food testing devices

MIDSTREAM TECHNOLOGIES: MISCELLANEOUS: Food safety & traceability tech, Cultured leather, land management tech, logistics & transport, processing tech, financial services for farmers, etc. shelf-life enhancement

Source: AgFunder, AgriFood Tech Investing Report, Mid-Year Review ‘17

US AGTECH CLUSTERS: ADVANCING AGRIBUSINESS AND FOOD PROCESSING 05 US AGRICULTURAL TECHNOLOGY CLUSTERS

Over the past several years, a significant portion of While these conditions exist in Emerging Clusters, total US investments in agtech went to companies in these markets tend to be smaller with less of a track California, Massachusetts and New York, but more than record in agtech, but with significant potential for half of all deals occurred outside of these well-known future growth because of their expertise in agricultural tech hubs. These deals advanced several cutting-edge production, agricultural processing and agribusiness companies in innovation clusters located in North more generally. Carolina; Denver, Colorado; and in locations across the New York and Massachusetts do not appear in this Mid-West, the traditional seat of US agriculture.9 report as Established or Emerging Clusters, despite This report separates these regions of innovation their strong performance in attracting VC funding. into two types: Established and Emerging Clusters. Though both locations offer strong R&D performance States in Established Clusters have highly productive and deep pools of talent, their success in attracting agribusiness sectors, promising investment and capital has resulted from a few very large deals, rather workforce trends, and strong R&D performance, with a than a broad and growing commitment to nurturing track record of attracting funding to agtech enterprises. innovation in agriculturally relevant technologies.

US agtech investment: value of deals by state (2017)

C $2,206

$817m

N $344m

C $133m

I $69m

$68m

$55m

N C $40m

O US S $864m

Millions of Dollars (USD)

Source: AgFunder, AgriFoodTech Funding Report, Year Review 2017

06 US AGTECH CLUSTERS: ADVANCING AGRIBUSINESS AND FOOD PROCESSING US agtech innovation hubs: Established and Emerging Clusters

Established clusters

Emerging clusters

Austrade office

US AGTECH CLUSTERS: ADVANCING AGRIBUSINESS AND FOOD PROCESSING 07 ESTABLISHED CLUSTERS

CALIFORNIA Much of the state’s agtech industry has developed in response to the state’s extreme drought and changing weather patterns, spurring innovation in areas such as Key figures precision irrigation, robotics and crop imagery. Agtech ›› California is home to 77,100 farms operating on over in California benefits greatly from the state’s robust 25 million acres of farmland.10 innovation ecosystem, which is fuelled by leading public and private research universities and a deep ›› Milk and cream, almonds, grapes, cattle, berries, pool of capital, much of it anchored in the Bay Area. and lettuce are California’s top commodities.11 ›› California has more food manufacturing plants than With its agricultural dominance and its technology- any other US state.12 rich economy, California attracted over US$2.2 billion ›› California consistently leads the US in VC in agtech investment in 2017, about 48 per cent of all 21 investment, taking in US$31.1 billion in 2016.13 agtech funding in the US for that year. ›› California’s universities received US$3.8 billion in federal research funding in 2015, more than any Major Australian connections other state. In total, California’s universities spent In 2015, the California Foundation on the Environment US$8.3 billion on R&D in 2015.14 and the Economy organised a study tour to Australia 15 ›› Researchers at University of California campuses for a group of California legislators and representatives received 568 patents and took in US$158 million of labour, environmental and business organisations 16 in patent royalty and fee income in 2016. Ninety- interested in learning about Australia’s approach to three startups have formed based on University of dealing with extreme drought. California inventions.17 Australian companies have received substantial ›› Key companies: Dole, Provide Commerce, Driscoll’s, Sunkist, Blue Diamond, Foster, E&J Gallo Winery funding from California-based investors. In 2013, AGR Partners purchased a 19.5 per cent stake (US$56 million) in Ridley AgriProducts, Australia’s largest Description animal feed and service rendering business. More California has long led the US in terms of agricultural recently, California’s Finistere Ventures launched a production and agricultural processing, and is home fundraising push in Australia as part of the final closing to more food manufacturing plants than any other of its US$150 million agtech fund. US state.18 In 2015, the state’s farms produced crops The University of Melbourne, Monash University and valued at US$45 billion, accounting for nearly 13 the University of Western Australia are key international per cent of the country’s total agricultural output.19 partners in the University of California-Irvine’s Water- Agricultural production is spread out across with state, PIRE project, a multimillion-dollar research initiative with ten counties producing more than US$2 billion focused on increasing knowledge and understanding worth of crops annually since 2014.20 of sustainable urban water systems. Water Australia, California’s geography and climate make it an ideal Water Melbourne, and the Australian Government- partner for many Australian firms and researchers funded CRC for Water Sensitive Cities are also focused on similar crops and environmental founding partners. challenges. For example, California’s recent water shortage has created opportunity for Australian companies with expertise in drought mitigation, including Melbourne-based firms Rubicon (gravity-fed irrigation systems) and Observant (ag software).

08 US AGTECH CLUSTERS: ADVANCING AGRIBUSINESS AND FOOD PROCESSING Research universities Accelerators and incubators › Terra California is home to ten of the world’s top 100 › research universities, including Stanford University ›› Plug and Play (2nd), University of California-Berkeley (5th), and the ›› Thrive Accelerator 22 California Institute of Technology (9th). Seven of ›› Food System 6 these top universities are public institutions within the ›› Indie Bio University of California system. ›› The Royse AgTech Innovation Network California’s universities are recognised as world- ›› AgStart leaders in agriculture research, engineering, computer ›› University-based accelerators science and life sciences. In 2016, the University of University of California California, Davis, received US$41.2 million in research ›› funding from the US Department of Agriculture, more ›› Stanford than any other university in the US. In 2018, the ›› University of Southern California veterinary college at UC-Davis was the number-one ›› CalPoly program in the world, while the university’s program in agriculture and forestry ranked second.23

09 NORTH CAROLINA North Carolina has long been a leader in the (RESEARCH TRIANGLE) biosciences and has built a thriving agtech sector on that success. There are more than 100 companies in North Carolina involved in agtech, including five of the Key figures six world-leaders in the sector: BASF Plant Science, Bayer CropScience, DuPont Pioneer, Monsanto, ›› North Carolina’s more than 47,000 farms grow Novozymes and Syngenta. Since 2010, nearly two over 80 different commodities making the state’s dozen agbioscience companies have launched in or agriculture industry one of the most diversified in relocated to North Carolina.35 Newcomers include the nation.24,25 AgBiome, Precision BioSciences and Alrgn Bio. ›› North Carolina leads the US in the production of tobacco, poultry and eggs.26 Many of these companies are located at or near ›› Agriculture and agribusiness employs nearly 17 per Durham’s Research Triangle Park (RTP), the largest cent of the state’s workforce.27 research park in the US. At least 80 of RTP’s 260 tenants are focused on bioscience and agtech.36 One ›› North Carolina has highly-developed biosciences of these is the North Carolina Biotechnology Center and agtech sectors with more than 700 (NCBioTech), which supports innovation by providing bioscience and 100 agtech companies located or funding, entrepreneur resources and networking headquartered in the state. opportunities. Agriculture is one of NCBioTech’s › More than a third of the 260 tenants at North › priority sectors. Since 2010, NCBiotech has awarded Carolina’s world-renowned Research Triangle Park agbiotech companies nearly US$23 million in grants are focused on agriculture-relevant technologies.28 and loans.37 Another RTP tenant, AgTech Accelerator, ›› North Carolina’s leading research universities identifies, finances and manages promising emerging 29 invested more than US$2 billion in R&D in 2016. agriculture companies. In 2017, AgTech Accelerator ›› The state of North Carolina attracted US$646 million announced it would be the first tenant at the in VC funding in 2016 across 66 deals.30 Alexandria AgTech Center-RTP, a 20-acre industry hub ›› More than 25 agtech startup companies launched currently under development within RTP, at the site of a 38 in or relocated to North Carolina between 2010 former Syngenta research facility. and 2016.31 North Carolina’s Research Triangle area is anchored by ›› Key companies: AgBiome, BASF Crop Protection major universities located at each of the triangle’s three and BAF Plant Science, BayerCropScience, ‘points’: Duke University in Durham, North Carolina Benanova, Crop Microclimate Management, State University in Raleigh, and the University of North CropSolution, Enzerna Biosciences, Monsanto, Carolina at Chapel Hill. Collectively, these institutions Novozymes BioAg, Nufarm, Precision Hawk, invested US$2.6 billion on R&D in 2016.39 State-wide, SoyMeds, Syngenta, Venganza, Zoetis North Carolina’s higher education institutions award a rapidly growing number of agriculture and natural Description science degrees, more than three times the growth of overall degrees awarded in the state.40 Agriculture and agribusiness is the top industry in North Carolina, generating US$84 billion in 2016 and Major Australian connections employing about 17 per cent of the state’s workforce.32 North Carolina’s is one of the most diversified Nufarm, an Australian agriculture company, cites agriculture states in the nation, thanks to its unique proximity to Research Triangle Park, multiple major geographic profile. North Carolina’s agricultural universities, and a deep pool of local talent as reasons industry annually produces crops worth about US$10.8 for selecting North Carolina for its North American R&D billion in cash receipts, the 9th highest in the nation site in Morrisville.41 (Nufarm’s North American HQ is 33 (in 2016). The state leads the nation in tobacco near Chicago, Illinois.) production, and is also a top producer of Christmas trees, hogs, pigs, poultry and eggs.34 Melbourne-based Mayne Pharma also maintains R&D facilities in North Carolina. In 2016, Mayne Pharma invested US$65 million to upgrade and expand its R&D facilities at its location in Greenville, North Carolina.42

10 US AGTECH CLUSTERS: ADVANCING AGRIBUSINESS AND FOOD PROCESSING Raleigh-based Precision Hawk, a leading provider of drones and drone data programs, launched operations in Sydney in 2016. PrecisionHawk’s investment will enhance the productivity of Australia’s agriculture sector by introducing highly advanced aerial imaging and drone data platforms. The company’s products are made available to Australian consumers through a partnership with Australian agribusiness company Ruralco.

Research universities

North Carolina State University (NC State) is the state’s leader in agricultural research. Each year, NC State’s College of Agriculture and Life Sciences (CALS) invests more than US$130 million in R&D, which generates about US$1.5 billion in economic value for the state.43 NC State agricultural researchers have a track record of collaboration with peers from CSIRO and at least ten of Australia’s leading universities.

In 2017, NC State launched the Plant Sciences Initiative (PSI) to consolidate research efforts and accelerate commercialisation. PSI will be located at NC State’s Centennial Campus, which already hosts more than 70 of NC State’s research units, 70 corporate, government and non-profit partners and the university’s tech transfer office and incubator.

Accelerators and incubators ›› TheLab at RTP ›› The Launch Place ›› Piedmont Food & Agricultural Processing Corp. ›› North Carolina Research Campus at Kannapolis ›› Alexandria Center for AgTech-RTP (Forthcoming) ›› AgTech Accelerator Corp. ›› Ag TechInventures ›› BioLabs North Carolina ›› Startup Factory ›› Bull City Forward ›› The American Underground (A Google for Entrepreneurs Tech Hub) ›› Launch Chapel Hill

11 MISSOURI of this concentration of R&D activity, St. Louis now has the highest concentration of PhD plant scientists in the world.51 Key figures Many smaller startup firms have located in Missouri to ›› In 2016, agriculture, forestry, and related industries take advantage of the region’s highly skilled workforce, in Missouri generated US$88.4 billion in economic low cost of living, and several organisations that exist 44 impact for the state. to support entrepreneurs. For example, Missouri is ›› Missouri’s top agricultural commodities include home to about a dozen business incubators and soybeans, corn, cattle and calves, and hogs.45 accelerators. One of these, the Yield Lab, is the first ›› A high concentration of agribusiness and animal agtech-focused accelerator in the US. The Yield Lab science companies are based in Missouri, including is located in St. Louis’s 39 North agtech innovation industry giants Monsanto and Purina Mills. district. Other tenants at 39 North include the Danforth ›› Kansas City, Missouri is home to the Animal Health Plan Science Center, the University of Missouri’s Bio- Corridor, which anchors Missouri’s US$2.3 billion Research & Development Growth Park, and Monsanto. 46 pet food industry. These factors, in addition to the state’s growing ›› St. Louis and Kansas City, Missouri, are home to pool of capital, have led some to call Missouri the many of the most active investment firms in the ‘Silicon Valley of Agtech’. Between 2010 and July Mid-West, many of which focus on agtech. 2017, Missouri agtech companies attracted US$172 ›› Missouri companies attracted US$236.8 million in million in venture capital funding, making it the VC funding in 2016.47 fourth ranked state in terms of agtech investment.52 ›› BioSTL, 39 North, and multiple incubators like the Several major investors are based in Missouri, Yield Lab exist to support entrepreneurs working in including BioGenerator, Cultivator Capital and The the life sciences and agtech sectors. Missouri Technology Corporation, a public-private partnership that invests to advance Missouri’s ›› Key agribusiness events occur annually in Missouri, bioscience industries. including InvestMidWest, the Animal Health Investment Forum, and the Ag Innovation Showcase. Major Australian connections ›› Key companies: Monsanto and Monsanto Growth Ventures, DuPont, BASF, Bayer, Bunge, KWS, Purina Missouri exports about US$300 million to Australia Mills, Zoetis, Boehringer Ingelheim, Pfizer, DeBruce annually, with transportation equipment, machinery, Grain, Fly AgTech and chemicals topping the list of commodities.53 Several Missouri companies maintain an Australian Description presence, including agriculture companies Monsanto, Independent Stave Company and Reliv International. Missouri is home to a US$33 billion agriculture industry that employs more than 378,000 people state-wide.48 Many Australian companies also operate in Missouri. In 2016, the state’s 97,200 farms generated US$9.4 Manufacturing leaders BlueScope Steel and Bradken billion worth of crops as part of that US$33 billion.49 Ltd. have their North American headquarters in Kansas Food and related products manufacturing contributed City. A number of Australia’s innovative animal science US$15.5 billion to the state’s economy the same year.50 companies have established a presence in Kansas City’s Animal Health Corridor, including Jurox, Parnell Missouri’s productive agricultural sector is led by and Integrated Animal Health. AgBiTech maintains industry giants such as Monsanto, DuPont, BASF, an R&D facility at Missouri’s Life Science Business Bayer, Bunge, KWS, Zoetis, Boehringer Ingelheim Incubator, which is closely affiliated with the University and AgriLabs. In addition, five of the world’s 10 largest of Missouri. Missouri imports about US$77 million from animal health companies have headquarters in the these and other Australian companies annually.54 state’s Animal Health Corridor in Kansas City. These firms have invested heavily in R&D activities internally and at the state’s many research institutes. As a result

12 US AGTECH CLUSTERS: ADVANCING AGRIBUSINESS AND FOOD PROCESSING Research universities & Development Growth Park (BRDG Park).56 Donald Danforth Plant Science Center conducts world-leading The University of Missouri, Columbia (Mizzou) is the agricultural research, while the BRDG Park supports state’s leading public research institution. In 2016, its incubation-stage companies achieve commercial R&D investments totalled US$248 million.55 Mizzou success. BRDG Park hosts an annual Ag Innovation is recognised as a national leader in plant science Showcase in partnership with corporate partners such and houses more than a dozen agriculture and plant as Dow AgroSciences, Cargill, Dupont and Monsanto. labs and institutes. The university is closely affiliated with the Bradford Research Center and Extension, a 591-acre US Department of Agriculture (USDA) facility Accelerators and incubators focused on biological control of insects, cropping ›› Yield Lab systems and water quality, and plant genetics. ›› Donald Danforth Plant Science Center Helix Center Biotech Incubator Mizzou is also home to the largest university-based ›› animal diagnostic lab in the US, the IDEXX Research ›› T-Rex Animal Diagnostic Laboratory (RADIL). In addition, ›› BioSTL Mizzou’s Life Science Business Incubator is home ›› Center for Emerging Technologies to several innovative companies focused on plant ›› University of Missouri’s Life Science science, biomedicine, animal health, food, agriculture Business Incubator and ITC. ›› The Missouri Technology Corporation (MTC) Washington University in St. Louis (Wash U), a private ›› Innovation Stockyard university ranked 20th in the world, hosts the Donald Danforth Plant Science Center and its Bio Research

13 COLORADO The state’s innovation activity is concentrated in Metro Denver and the nearby northern Front Range near Fort Collins. Several agtech startups have emerged from Key figures this area, including Agribotix, an agricultural drone ›› Colorado’s agribusiness industry generates US$41 manufacturer based in Boulder, and Denver-based billion for the state’s economy annually, including SWIIM Systems, a sustainable irrigation company. US$6.3 billion in crop receipts.57,58 Forbes Magazine recognised SWIMM as one of the top 25 most innovative agtech companies in 2017. ›› The state’s top commodities include sunflower, barley, potatoes, sheep and lamb.59 Affordable operating costs, a pro-business tax ›› Colorado is home to major food processing and environment, strong research universities, and growing packaging companies, including JBS USA, Leprino access to capital draw innovative entrepreneurs to Foods, Ardent Mills, and Celestial Seasonings. Denver and the Front Range. Several in-state funders ›› Over 700 bioscience companies are based in have developed an appetite for agtech, recognising Colorado, many with an agriculture focus.60 the state’s competitive advantages in this industry. Colorado bioscience companies — some with ›› More than 30 federal research facilities are located agricultural applications — have received US$1 billion in Colorado, including labs funded by the Centers in venture capital investments since 2012.66 In addition, for Disease Control, the USDA, the Department of several industry organisations, incubators, and public- Energy and the NSF. private partnerships like the Colorado Innovation ›› Colorado companies attracted US$670 million in VC Network (COIN) exist to support entrepreneurial 61 funding in 2016, the 10th highest total of all US states. activity. Several, like Ag Innovators of Northern ›› Colorado agtech companies attracted investments Colorado and Colorado AgInnovators, are organised worth US$133 million in 2017, behind only California, specifically to accelerate innovation in agtech. Massachusetts and New York.62

›› Major Colorado-based investors include Foundry Major Australian connections Group, Access Venture Partners, GroTech Venture, and Altira Group LLC. Leading Australian milk brand A2 Milk opened its US headquarters in Boulder, Colorado in 2015, joining that ›› Key companies: Martek Biosciences, Dharmacon, city’s active natural food community. Cargill, Leprino, JBS, Gates Corporation, Birko, Infinite Harvest, Wadsworth Controls, PureVision Melbourne-based Rubicon Water’s US operation, Technology, Ventria Biosciences, Keeton Industries, Rubicon Water Systems America, is based in Fort SWIIM systems, PureCultures, WilburEllis, Rubicon Collins and is a partner in the Colorado water Innovation Cluster alongside Colorado State University Description (CSU) and other private sector leaders.

Colorado’s 33,800 farms generated US$6.3 billion Agworld, a leading Australian agtech company, runs its in cash receipts in 2016, with livestock generating US operations from Windsor, Colorado, just outside of two thirds of that total.63 Colorado ranks within the Fort Collins. top five states for the production of sunflower, proso JBS Australia is the largest meat processing company millet, barley, potatoes, sheep and lamb.64 Agriculture, in Australia and is a division of Colorado-based JBS agribusiness and related industries generate about USA. JBS Australia employs 8,500 people at its10 US$41 billion for the Colorado economy and employ processing facilities and five feedlots, spread across about 173,000 people state wide.65 five Australian states.67 Colorado’s agriculture sector has seen decline in net income over the past few years, due in part to falling Research universities cattle and grain prices globally. At the same time, Colorado’s agtech industry has grown steadily, driven Colorado State University’s College of Veterinary by increased private sector R&D investment, strong Medicine & Biomedical Sciences and College of research universities, an established bioscience sector, Agricultural Sciences are leaders in research related and the state’s 33 national lab facilities. to food safety and infectious disease; plant breeding and animal reproduction; pest control, soil and crop

14 US AGTECH CLUSTERS: ADVANCING AGRIBUSINESS AND FOOD PROCESSING sciences, and sustainable agriculture. The university’s Accelerators and incubators Judson Research Complex includes several top labs ›› Boomtown focused on these topics, plus facilities managed by the ›› MergeLane’s Funderator Centers for Disease Control and the USDA. In addition, Techstars Boulder the Complex houses CSU’s Research Innovation ›› Center (RIC), a life sciences technology accelerator ›› Founder Institute Denver that has several private sector tenants. CSU has a long ›› Unreasonable Institute and Unchartered history of collaboration with industry on research and ›› Innosphere commercialisation. Key industry partners include JBS ›› Advanced Industry Accelerator Programs USA, Merck, Land O’ Lakes Feed, Purina, Standard Nutrition Company and Agfinity. Annually, Colorado ›› Boulder Bits State University invests about US$332 million in R&D ›› Fitzsimmons Innovation Campus activities (across all research areas).68 ›› Research Innovation Center (CSU) ›› Catalyze CU (University of Colorado, Boulder)

US AGTECH CLUSTERS: ADVANCING AGRIBUSINESS AND FOOD PROCESSING 15 ILLINOIS ›› In 2017, Illinois agtech companies attracted US$69 million in VC funding.77 ›› Total VC funding to Illinois-based companies has Key figures exceeded US$1 billion each year since 2014.78 ›› The Illinois economy is the 5th largest in the US, ›› Key companies: Archer McDaniel Midlands, with a GDP of US$796 billion in 2016.69 Caterpillar, Pepsi Co., Kraft Heinz, Mondelēz ›› More than 1 million people in Illinois work in the International, Conagra, Deere, GrubHub agriculture and fibre sectors.70 ›› Illinois ranks first in the nation with US$180 billion in Description processed food sales.71 Agricultural commodities generate more than US$120 More than 2,600 food manufacturing companies are ›› billion for the Illinois economy annually.79 The state’s based in Illinois and many are actively driving and 72,500 farms occupy 75 per cent of Illinois’ total area.80 funding innovations in food technology.72 In 2017, the state’s cash receipts totalled US$19 billion, ›› Illinois ranks first in the US in terms of food-related more than 7 per cent of the country’s total crop yield that patents. Across all industries, about 5,000 patents year (by value).81 That year, Illinois was the nation’s top are awarded each year to Illinois inventors producer of soybeans, the second largest producer of and businesses.73 corn, and the fourth largest producer of hogs and pigs.82 ›› Illinois attracts approximately US$2.4 billion in R&D In addition to farming, Illinois is a leader in food funding annually, including federal and corporate processing, meat packing, dairy manufacturing, sources.74 More than 440 corporate R&D facilities feed milling, vegetable processing, machinery exist across the state.75 manufacturing, and agriculture-related services. Illinois universities produced more than 900 ›› Firms across these sectors are increasingly focused startups from 2012 to 2017.76 on driving productivity through automation and other ag-relevant technologies. The abundance and

16 variety of agricultural products grown, developed, and In Illinois, Australian firms employ more than 6,000 manufactured in Illinois make it a natural home base Illinois residents at 95 different locations for 44 for 2,600 food and agricultural companies, and an subsidiaries.87 Some but not all of these firms are attractive destination for international firms seeking connected to Illinois’ rich agribusiness sector, including suppliers and partners. AmCor and Nufarm, which maintains its North American headquarters in Alsip, Illinois, just outside Illinois’ overall GDP was US$796 billion in 2016, making of Chicago. The site is also the global headquarters of it the fifth largest economy in the US.83 Illinois is home Nuseed, Nufarm’s seed technology subsidiary. to 36 Fortune 500 companies, including Archer McDaniels Midland, Deere & Company, Mondelēz International, Conagra, and several outside of Research universities agriculture, such as McDonald’s and Walgreens. The University of Illinois is the state’s leader in agriculture-related research, with key initiatives in The size and diversity of Illinois’ economy attracts a bioenergy, biotechnology, nanotechnology, and food skilled workforce and fuels a robust technology and and agricultural systems. The university also maintains innovation system, particularly in and around Chicago. close ties with the National Center for Agricultural This system is further supported by powerful industry Utilization Research in Peoria, IL. The facility conducts groups and active, ag- and food-focused investors, like research on new uses of agricultural commodities S2G Ventures and 2X Ventures. Tyson Foods, which for industrial and food products and serves as the has a US$150 venture fund based in Chicago, recently US Department of Agriculture’s primary technology announced a partnership with 1871, an accelerator and transfer facility. hub for Chicago’s tech innovators. The partnership will connect Tyson with top entrepreneurial talent and In 2018, the University of Illinois announced the accelerate innovation in food tech, a fast-growing opening of the Monsanto Innovation Center at the category within agtech. university’s research park, which already hosts the John Deere Innovation Center, the Archer Daniels Major Australian Connections Midland Company’s Sustainable Bioenergy Modeling Center, and the Syngenta Digital Innovation Lab. Illinois exported US$2.15 billion worth of goods and The Research Park is also home to several startup services to Australia in 2016, ranking 2nd among companies and the university’s highly-regarded the 50 US states.84 Top exports included machinery, EnterpriseWorks Incubator. chemicals, transportation equipment. In the reverse direction, Illinois imported US$955.5 million, an increase of more than 75 per cent since 2009.85 Food Accelerators and incubators products, transportation equipment, and minerals and ›› 1871: Chicago’s Technology & ores were the top three import categories. Entrepreneurship Center ›› The Hatchery Chicago Many Illinois-based companies have a major presence Good Food Business Accelerator in Australia. Together, Mondelēz International, Boeing, ›› Caterpillar, and The Kraft-Heinz Company employ ›› The Peoria NEXT Innovation Center nearly 25,000 Australians.86 Westchester, a leading ›› The Good Food Business Accelerator global agricultural asset manager based in Champaign, ›› The Incubator: Science Innovation Labs Illinois, has seven offices in Australia. ›› TechNexus: Venture Collaborative Illinois-based companies also have existing relationships ›› Illinois Science & Technology Coalition’s with Australian universities. John Deere has worked Corporate-Startup Challenge closely with UNSW researchers to develop robotic seed ›› University-based: systems, an autonomous tractor, and software for other ›› Enterprise Works at University of Illinois, high-tech farm machinery. Similarly, Cultivian Sandbox Urbana Champaign Ventures, a Chicago VC firm, has invested in a University of Queensland technology that harvests spider venom ›› New Venture Challenge at the University of as a pesticide for agricultural use. Chicago’s Polsky Center ›› Incubator Laboratory Facility at University of Illinois, Chicago

US AGTECH CLUSTERS: ADVANCING AGRIBUSINESS AND FOOD PROCESSING 17 18 EMERGING CLUSTERS

MINNESOTA (MINNEAPOLIS/ST. PAUL) investment in agtech, Cargill, EcoLab and Techstars will launch the Farm to Fork accelerator in Minnesota in 2018.100 Key figures With strong leadership from corporate agricultural ›› More than half of Minnesota’s total land area is powerhouses, a highly skilled workforce, and a growing devoted to farming (26 million acres).88 profile amongst investors, Minnesota is well-positioned ›› With US$7.35 billion in exports, Minnesota is the 4th to support growth in agtech activity. largest agricultural exporter in the US.89 Minnesota leads the US in cash receipts for turkeys ›› Major Australian connections and sugar beets.90 ›› More than 431,000 jobs in Minnesota are related to A number of major Minnesota-based companies agriculture and food production.91 have subsidiary offices in Australia including Cargill and General Mills. Geosys, a company that provides ›› 17 Fortune 500 companies are headquartered in satellite- and weather-based data to agricultural Minnesota’s Twin Cities region. producers, also has operations in Sydney. ›› Minnesota companies took in US$339.4 million in VC funding in 2016, and preliminary data show Research universities significant growth through 2017.92,93 ›› Minnesota received US$817.4 million federal R&D Minnesota’s flagship institution, the University of funding in 2016, with US$379.6 million going toward Minnesota, Twin Cities, is a leader in research, university-based research.94 spending US$910 million on R&D in 2016 (15th ›› Key companies: General Mills, Land O’ Lakes, nationally). This total includes about US$22 million Cargill, Inc, Hormel Foods in funding from the US Department of Agriculture (5th) and more than US$78 million from the National Science Foundation (8th).101 Description In 2013, the State of Minnesota authorised recurring Agriculture is a major contributor to Minnesota’s annual investment of US$18 million in MN DRIVE, economy, creating US$121 billion in economic impacts a research and innovation initiative based at the and employing more than 431,000 Minnesotans.95 University of Minnesota that has global food innovation The state is home to more than 1,000 agriculture and as one if its four key priorities.102 The University of food processing companies, including several major Minnesota ranks 4th among US tech transfer offices corporations such as General Mills, Land O’Lakes, in executing licence deals and holds more than 1,800 Cargill Inc., Hormel Foods, and EcoLab.96 current licences and 900 issued patents.103 Many of these companies have headquarters in and around the Twin Cities of Minneapolis and St. Paul and Accelerators and incubators attract skilled talent to the region. More than 40 per ›› Farm to Fork Accelerator cent of workers in the Twin Cities region hold at least a ›› Gener8tor Minnesota bachelor’s degree.97 ›› Red Wing Ignite Minnesota companies attracted nearly half a billion ›› Accel.MN dollars in VC investment in 2017.98 Minnesota lags behind states like California, New York, and Massachusetts when it comes to attracting VC, but the state’s 2017 performance marks a 45 per cent increase over the previous year.99 To boost innovation and

US AGTECH CLUSTERS: ADVANCING AGRIBUSINESS AND FOOD PROCESSING 19 INDIANA Much of the innovation in Indiana’s agriculture sector is driven by private industry, including seed companies such as DowAgro, AgReliant, KWS, and Limagrain, Key figures which are headquartered in the state. Industry R&D ›› Indiana’s GPD was US$347.2 billion in 2016 making spending accounted for more than 80 per cent of the it the 16th ranked economy in the US.104 state’s US$7.6 billion R&D investments in 2015; public R&D funding, mostly to universities, accounted for the ›› The state has 56,800 farm operations spread out remainder of the total.111 across 14.7 million acres of farmland.105 ›› Indiana is ranked 10th in the nation in agricultural Indiana’s innovation sector lags behind other states production value, and is a leading producer of corn, in terms of total VC funding, ranking 27th with US$77 soybeans and hogs and pigs.106 million across 31 deals in 2016.112 Investment in the 113 ›› Major seed companies including DowAgro and state has grown steadily since 2012 however. AgReliant are headquartered in Indiana. Organisations like AgriNovus and accelerators such as the Purdue Ag-Celerator work to ensure Indiana’s ›› Purdue University is a world-leader in agricultural emerging agtech start-ups have access to a portion of research, education and commercialisation. this growing pool of capital. ›› Indiana companies took in US$77 million in VC funding in 2016.107 Major Australian connections ›› Key companies: Dow Agro Sciences, Farmworks Information Management, The Daugherty DowAgro has a longstanding partnerships with the Companies Inc, Beck’s Hybrids, Equipment Victoria Department of Primary Industries (DPI) Technologies, AgSyc, MyFarms, Headsight, JBS and Agriculture Victoria Services Ltd (AVS). In 2017, Univted, CTB International Corp. DowAgro and AVS launched a new project on industry demonstration and delivery of technologies related to canola breeding.114 DowAgro also maintains R&D Description facilities in South Australia and New South Wales. Indiana agribusiness contributes roughly US$31.2 billion to Indiana’s GDP annually, with more than In 2017, Australian Michael McRobbie, President of 107,000 jobs supported by agricultural production, Indiana University (IU), led a delegation from the processing and related activities.108 Indiana ranks tenth university to ANU and the University of Sydney. IU among US states for commodity cash receipts (US$10 enjoys strong relationships with both universities and billion in 2016) and is a leading producer of corn, partners with ANU to operate the ANU-IU Pan Asia soybeans, hogs and pigs.109 Institute, which facilitates research collaboration on pan-Asian issues. In 2017, the Indiana Department of Agriculture released a 10-year strategy for agriculture in the Research universities state. The strategy prioritises the development of a skilled workforce and the growth of the state’s The bulk of Indiana’s university-based research in agbiosciences industry, which encompasses agriculture occurs at Purdue University, where the agtech. Based on Indiana’s industry profile and R&D biological/agricultural engineering faculty was ranked capabilities, there are four subsectors particularly ripe 9th in the world in 2018.115 Purdue hosts USDA labs for growth: plant science and crop protection; value- focused on livestock behaviour, soil erosion, and crop added human food and nutrition products; veterinary production and pest control, plus a USDA-supported health and nutrition products; and agricultural Center on Food Safety Engineering. The university production equipment, processing equipment, and ranked 37th in the US for total R&D expenditure in precision agricultural systems (including 3D printing 2016, with investments of just over US$606 million.116 and drone technology).110

20 US AGTECH CLUSTERS: ADVANCING AGRIBUSINESS AND FOOD PROCESSING In 2015, Purdue launched Ag-Celerator, a US$2 million plant sciences innovation fund that provides funding for Purdue innovators seeking to commercialise university research. The fund is operated by Purdue Ventures, the investment arm of the university’s accelerator, the Purdue Foundry.

Accelerators and incubators ›› Flagship Enterprise Center ›› SproutBox ›› DeveloperTown ›› Purdue Foundry ›› TechPoint ›› Gener8tor ›› Indiana University Research and Technology Corporation ›› University of Notre Dame’s IDEA Center

21 WISCONSIN Madison and Milwaukee are hubs for both established and emerging industry. Though Wisconsin is not traditionally seen as leader in startup activity, Key figures companies in the state attracted over US$112 million 131 ›› Wisconsin has 68,500 farms on 14.3 million acres.117 in VC investments in 2016. In 2017, Milwaukee appeared on TechNet’s list of 25 ‘Next in Tech’ cities ›› With cash receipts of US$11.7 billion in 2016, due to its low cost of living, educated workforce, and Wisconsin was the 9th ranked state.118 strong entrepreneurial support network.132 ›› Wisconsin has more dairy farms than any other US state, and is consistently among the top producers Major Australian connections of milk, cheese, and other dairy products.119 ›› Food processing sales topped US$67 billion in 2016.120 Wisconsin-based ABS has a strong Australian ›› Agriculture and food processing industries employ presence and maintains an Australian headquarters more than 413,000 people in Wisconsin.121 in Victoria. Ariens Company, which manufactures outdoor power equipment, also maintains a corporate ›› The University of Wisconsin ranks 6th nationally in office in Victoria, in addition to a major distribution terms of research activity and output.122 centre in Brisbane. Rexnord, another Wisconsin-based ›› Milwaukee’s emerging startup scene earned it manufacturing giant with connections to agriculture, 123 recognition as a ‘Next in Tech’ city in 2017. maintains several manufacturing, service and sales ›› Major Companies: Sargento Foods, Miller Brewing locations across Australia. Company, Sensient Technologies, Chr. Hansen, Agropur, Kerry Ingredients, Malteurop, LeSaffre Research universities

Description The University of Wisconsin at Madison (UW-Madison), the flagship campus of the state’s university system, Wisconsin is America’s ‘Dairyland’. The state boasts spent US$1.16 billion on R&D in 2016 and ranked 6th more dairy farms than any other US state.124 In nationally in terms of research volume.133 That year 2016, Wisconsin farms produced more than 30 UW-Madison’s College of Agricultural and Life Sciences billion pounds of milk, a new record for the state.125 received over US$92 million in research funding, which Wisconsin’s dairy producers also set a record, supported cutting edge research at the Center for producing 3.2 billion pounds of cheese.126 Wisconsin Integrated Agricultural Systems, the Renk Agribusiness is also America’s top producer of cranberries, snap Institute, the Land Information & Computer Graphics beans, milk goats, and corn for silage.127 Facility, the newly opened Wisconsin Crop Innovation Center and other labs and facilities.134 Agriculture and food processing contribute US$88.3 billion to Wisconsin’s economy and provide nearly 12 UW-Madison’s research in agriculture, engineering, and per cent of total state employment.128 In addition to its bioenergy has produced many commercially promising 69,000 farms, Wisconsin has nearly 1,400 food and technologies. Several have been brought to market by beverage processing companies.129 Employment in the Wisconsin Alumni Research Foundation (WARF), the food science sector is growing faster in Wisconsin the university’s self-sufficient technology transfer office. than in nearly every other state.130 Bioscience and Today, WARF operates an accelerator to provide expert water tech (freshwater) are also priority growth assistance and funding to support commercialisation.135 industries for Wisconsin.

The 2017 list of Fortune 500 companies included nine Accelerators and incubators companies from Wisconsin, mostly from manufacturing ›› Technology Innovation Center at Research Park and the insurance and financial services industry. Key ›› Wisconsin Alumni Research Foundation food, beverage, and agricultural firms headquartered in ›› Gener8tor Madison, Milwaukee, Beloit the state include Miller Brewing Co., Sargento Foods, › Doyenne Group Sensient Technologies, and ABS, a world leader in › bovine genetics. ›› Bunker Labs ›› Capital Entrepreneurs ›› Startup Milwaukee ›› CVTC Applied Technology Center 22 US AGTECH CLUSTERS: ADVANCING AGRIBUSINESS AND FOOD PROCESSING 23 24 METHODOLOGY Austrade Boston 745 Atlantic Avenue, 8th Floor The clusters in this report were identified by examining data related to Boston MA 02111 agribusiness productivity, investment and workforce trends, and R&D performance Tel: +1 646 344 8111 and determining which clusters had the most established agtech sectors as of Fax: +1 212 867 7710 the time of our analysis. Data have been sourced from public databases and resources disseminated by local and state economic development agencies, Austrade Chicago federal research and funding agencies, and industry peak-bodies. The information 123 North Wacker Drive in this report has been formatted to be concise and accessible. Suite 1325 Chicago IL 60606 Tel: +1 312 374 9401 HOW AUSTRADE CAN HELP Fax: +1 312 578 0372 Austrade Houston The Australian Trade and Investment Commission – Austrade – contributes to 3009 Post Oak Blvd Australia’s economic prosperity by helping Australian businesses, education Suite 1310 institutions, tourism operators, governments and citizens as they: Houston TX 77056 ›› develop international markets Tel: +1 832 962 8420 Fax: +1 832 831 2022 ›› win productive foreign direct investment ›› promote international education Austrade New York ›› strengthen Australia’s tourism industry Australian Consulate 150 E 42nd St, 34th Floor ›› seek consular and passport services. New York NY 10017 Austrade provides information and advice that can help you reduce the time, Tel: +1 646 344 8111 cost and risk of exporting. We also administer the Export Market Development Fax: +1 212 867 7710 Grants scheme and offer a range of services to Australian exporters in growth and Austrade San Francisco emerging markets. 575 Market Street W austrade.gov.au Suite 1800 E [email protected] San Francisco CA 94105 T 13 28 78 (within Australia) Tel: +1 415 644 3620 Fax: +1 415 536 1982

Austrade Washington DC AUSTRADE IN THE UNITED STATES Australian Embassy 1601 Massachusetts Seeking the right advice and assistance is critical to the success of doing Ave, NW business in the US. Austrade has six US offices. Our staff members can provide Washington DC 20036 agtech exporters with market guidance and access to information, promotions and Tel: +1 202 454 9744 referrals such as: Tel: +1 202 454 9760 ›› introductions to appropriate contacts ›› feedback on the suitability of Australian agtech products and services for the US market ›› advice on applicable US regulations ›› opportunities for participation in promotions and trade missions.

W austrade.gov.au/usa E [email protected]

US AGTECH CLUSTERS: ADVANCING AGRIBUSINESS AND FOOD PROCESSING 25 Disclaimer This report has been prepared by the Commonwealth of Australia represented by the Australian Trade and Investment Commission (Austrade). The report is a general overview and is not intended to provide exhaustive coverage of the topic. The information is made available on the understanding that the Commonwealth of Australia is not providing professional advice.

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