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Probiotics for Agriculture

December 10th, 2013
Total interviews: 75
The Pivot Team

Karsten Temme
CEO

Alvin Tamsir
CSO

Emily Tung
Researcher

John Cumbers
Mentor
Week 1
•
•
•
Academic labs
UC Davis Soil Ecology group •
SynBerc
AgBio industry leaders

Science – lab POC
Field trials
Re...
Crops

Treatments

GM
Strains

Natural
Strains

Probiotic
Mixture

Natural
Strains

• Germinated in sterile greenhouse con...
Week 1

• Reduced risk of loss in
drought
• Improved yield
• Organic
• Lower human and
equipment costs

Week 5

Farmers
• ...
Customer archetype
•
•
•
•

Manager of HeinzSeed Global
60+ years of tomato seed breeding
Develops most of top tomato vari...
US Commercial Processing Tomato Industry
Acreage:
Location:
Market Size:

300,000 acres
95% in CA
$700M

Break even:
Avera...
Channels and Market Structure
Product Flow
Cash Flow

Seed production

Seed breeders

Seed treatment

Seed distributors
Gr...
The MVP

Tomato Seeds

Seed breeders

Seed production

50% market

Seed treatment

Heinz

Value based pricing
Yield Increa...
Building the MVP: Key Metrics
MVP

Now

Q1 2014

Q2 2014

Q3 2014

Greenhouse Trial

Q4 2014

Field Trial

R&D Activites

...
Week 10
Senior customer endorsement

Operational plan validated
Talent recruited
IP strategy and KOL network
“Proof of Relevance” ...
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Pivot bio final presentation

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  • Updated business model canvas to reflect changes in value props and our discovery of actual customer segment. Moving foward, we wanted to test the product market fit of our core value propositions.
  • Transcript of "Pivot bio final presentation"

    1. 1. Probiotics for Agriculture December 10th, 2013 Total interviews: 75
    2. 2. The Pivot Team Karsten Temme CEO Alvin Tamsir CSO Emily Tung Researcher John Cumbers Mentor
    3. 3. Week 1 • • • Academic labs UC Davis Soil Ecology group • SynBerc AgBio industry leaders Science – lab POC Field trials Regulatory engagement Establish AgBio partnership for sales channels • Inoculant distribution • Customer service • Public relations • Reduced risk of loss in drought • Improved yield • Organic • Lower human and equipment costs • Direct relationships • Self service (3rd party purchases) • On-farm interactions • Potential collaborative relationships Dow Corning Bayer Monsanto TBD: - Fermentation scale up - Packaging and prep Farmers • Corn • Wheat • Rice Corporate farm Family farm • • • • • • Synthetic biology IP Next gen sequencing IP Proprietary microbes Regulatory awareness Sales staff Production staff and facility • Direct sales • Local supplier / grain elevator • Seed companies • Fertilizer companies • State fairs • Inoculant purchases • Next-gen sequencing diagnostic • Licensing royalties Organic Conventional
    4. 4. Crops Treatments GM Strains Natural Strains Probiotic Mixture Natural Strains • Germinated in sterile greenhouse conditions • CA dominates US tomato cultivation Fermented Metabolites
    5. 5. Week 1 • Reduced risk of loss in drought • Improved yield • Organic • Lower human and equipment costs Week 5 Farmers • Corn • Wheat • Rice • Tomato seed companies • Tomato nurseries Corporate farm Family farm Organic Conventional • Tomato farmers • Seed coating companies
    6. 6. Customer archetype • • • • Manager of HeinzSeed Global 60+ years of tomato seed breeding Develops most of top tomato varieties Looks for new technologies to improve tomato production Plant health Fruit quality Dale Smith HeinzSeed Disease resistance Yield Drought tolerance Germination
    7. 7. US Commercial Processing Tomato Industry Acreage: Location: Market Size: 300,000 acres 95% in CA $700M Break even: Average: Highest: 40 tons / acre 48 tons / acre 70 tons / acre “10% yield improvement would be significant”
    8. 8. Channels and Market Structure Product Flow Cash Flow Seed production Seed breeders Seed treatment Seed distributors Grading and Processing Nurseries Commercial Farms
    9. 9. The MVP Tomato Seeds Seed breeders Seed production 50% market Seed treatment Heinz Value based pricing Yield Increase - $70M Current $700M $10M Heinz + Pivot Value if MVP applied to Top 10 Varieties of 2013 $7.5M To Farmers - $35M $5M To Greenhouses - $4M To Seed Breeders - $3M Pivot (40%) - $28M $2.5M Red = Heinz varieties
    10. 10. Building the MVP: Key Metrics MVP Now Q1 2014 Q2 2014 Q3 2014 Greenhouse Trial Q4 2014 Field Trial R&D Activites Milestone Cost • Endophyte Isolation • 500 relevant strains $30k • Sequencing and Analytics • All genomes annotated and scored $50k • Selection and Optimization • 50 high confidence strains $140k • Greenhouse Trial • 10% yield increase $60k Personnel: 1 bioinformatician Partners (done): Greenhouse (UC Berkeley), NGS (Seqmatic), Heinz and Germains IP: File composition of matter on 50 high confidence strains Economics: Validate revenue sharing hypotheses, negotiate field trial financing
    11. 11. Week 10
    12. 12. Senior customer endorsement Operational plan validated Talent recruited IP strategy and KOL network “Proof of Relevance” defined Timeline and cost to data points Strategic fit in portfolio validated Technology confirmed First pass canvas
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