338. AGCO Ventures’ Alex Russomagno on agtech + a new wave of innovation for farmers

It’s been a tough couple of years in agriculture. Net cash farm income is expected to decrease nearly $6 billion in 2024; that follows a decrease in 2023 of nearly $58 billion. It’s a tough sled for many farmers and there’s companies who are working to bring innovation to farmers to overcome the headwinds that exist. Alex Russomagno, Senior Manager of Strategic Engagement for AGCO Ventures, joins this week to talk:  Where things stand for the agtech and ag equipment industry right now.  How the acquisition of PTx Trimble and the launch of AGCO Ventures has launched a new wave of startup activity in agbioscience. Matching supply and demand of innovation in the industry; Alex also talks initial investments from AGCO Ventures. The AGCO Ventures Thesis and how agriculture’s downcycle impacts their strategy. What challenges are emerging that will require innovation for the farmer, quickly. Her experience with the power of partnership and investment between big companies and startups.  The seismic shifts that will drive the next wave of innovation in agbioscience.