10 years on... (Building AgriTec companies)
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Presentation at Digital Exeter, July2017. Prof. Toby Mottram talks about his ten year journey building Tech start-ups in the Dairy Farming Industry.
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10 years on... (Building AgriTec companies)
- 1. Ten years of tech development and company building Prof. Toby Mottram FREng
- 2. Our Market is Global and growing 200 m cows worldwide with annual income of £2000 = £40bn turnover pa. Growing at 4-8 % annually, 1 million managers
- 4. Robotic Milker invented in UK commercialised by de Laval
- 5. Main Challenges in Dairy Cow Management Getting Cows pregnant (fertility) Feeding them correctly (rumen nutrition) Health management Calving (transition) Lameness Mastitis
- 6. Ecow invented rumen pH bolus Patented 2007 Inserted by mouth Retained in cows stomach Data downloaded by radio to smartPhone Improves cow nutrition 500 sold annually with 40% growth annually
- 7. Developing in-line milk analysis of progesterone Solving the fertility crisis in dairying Raised £1.2 m of grants and equity investment Now recruiting engineers and analysts Product Launch planned for 2018
- 8. Visionary To map global animal health data and drug use A strategy for the next 20 years Opportunistic SmartAgriFood 100% funded ! We had a software team but no money Needed capability in RESTful tech in eCow and Milkalyser Raised our profile VirtualVet (2014….) Now a company with a growing database but no paying customers yet
- 9. Getting eCow Started Filed a patent (cost £130) Won a £70k grant from Smart Scotland First customer 2011 Kept the day job at Scottish Enterprise Recruited a designer Grew with sales, retain good people, sack the bad
- 10. Start small, aim large Don’t give up the day job Keep the costs down Bootstrap Win grants Free money but there is a cost File patents With minimal help Be opportunistic Survive What do funders want Jobs - GVA Growth Visible results Fashion driven Need matching funding
- 11. Grantsmanship Check out the scope Do background research what is the hit rate ? How big is the fund ? Cost/benefit of writing the proposal Look at the submission date Recycle words from the call Help the assessors see that the call requirements are met Make use of resubmit options if you get turned down
- 12. Summary After 10 years I am not rich I work about 40 hours a week I am rarely stressed by money or work I have an exit plan to sell the businesses as they mature I have participated in revolutionising the dairy industry I love Friday afternoons when I look around me...