Leaps by Bayer Launches Ag Playbook 2.0: A New Era of Transparency in Agtech

Leaps by Bayer has unveiled the Ag Playbook 2.0, a significant update aimed at enhancing transparency in agtech product development. This release comes in response to critiques of last year’s inaugural edition, which some felt sent a discouraging message to early-stage innovators.

Addressing Industry Concerns

One notable reaction from a venture capitalist highlighted the challenges in the agtech sector: “This space isn’t for you unless you’re prepared to spend $1B.” PJ Amini, Vice President of Agriculture Venture Investments at Leaps by Bayer and editor of the Playbook, argues that such statements misinterpret the objective of the document.

An Informative Framework

Amini explained to AgTechNavigator, “The Ag Playbook is crafted by a consortium of entrepreneurs, experienced R&D professionals, and both early and late-stage investors. Its purpose isn’t to demotivate innovators or early-stage investors, but to provide them with vital insights.”

The Playbook aims to convey real-world timelines and costs involved in bringing regulated agricultural technologies to market, rather than obscuring these truths.

Expanded Insights in Ag Playbook 2.0

The revised edition introduces a more extensive scope. Key updates feature a new chapter on biomolecules, authored by industry experts; a ‘State of the Market’ introduction by Scott Porter of Westerra Capital; and insights on regulatory trends from Jerry Hjelle, a former VP at Monsanto with vast biotech regulatory experience.

Thomas Laurent, CEO of Micropep Technologies, also contributed valuable insights, particularly regarding the development of bioactive peptides for crop protection. Contributors estimate that biomolecules may have shorter development timelines and costs ranging from 7-14 years and $30-62 million—much less than traditional methods.

Learning from Pharma

Amini contends that the agtech sector can learn from the pharmaceutical industry’s structured development model, which often entails costs between $1-2 billion and comparable timelines. Investors are typically well-acquainted with the value inflection points in this model, providing a roadmap that agtech could benefit from.

“There is a robust ecosystem of investors and entrepreneurs who remain undeterred by the costs and timelines,” Amini noted, emphasizing that the Ag Playbook seeks to grant ag innovators the clarity necessary for making timely investments.

Understanding the Hurdles: Regulation and Testing

Key challenges in agtech include stringent regulatory requirements and the costs associated with field testing. Ag Playbook 2.0 features a dedicated section on regulatory strategies, as well as a guide for field-testing biomolecules, assisting companies in mapping out their necessary evaluations as their products near market readiness.

For biomolecules, early modeling of production costs is emphasized, enabling firms to develop realistic unit economics sooner in the process.

A Pathway to Success

Ultimately, Amini affirmed that the Playbook is designed to cultivate better development plans and more aligned fundraising strategies, significantly increasing the chances that new innovations will successfully reach farmers.

“The aim is to guide start-ups and investors in realistic development planning, essentially leading to feasible funding timelines and enhancing the likelihood of success,” Amini concluded, reinforcing that the Playbook is a tool to help navigate the complex agtech landscape.