Business Challenges in Commercialization of Agricultural Technology
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Technology has been a major driver of both the agricultural productivity increases of the past century and the financial success of many farm and agribusiness firms. The challenges of bringing new technology to market in the agricultural industry are changing - it is no longer adequate to conceive a new invention and convince farmers with a strong marketing campaign that they should adopt the technology that results from this invention. One of the plenary sessions at the 2003 IAMA meetings in Cancun focused on the challenges and opportunities in creating value from new technology. Participants included: Michael Boehlje, Center for Food and Agricultural Business, Purdue University; Lynn White, Vice President, Global Ag Services, Deere; Marcello Arguelles, CEO of Biosidus; and Greg Clarke, Technical Director, FXA Group. This synopsis attempts to capture the key observations of the session presenters and the discussion that followed.