In the digital age, long standing industry leaders are challenged with new innovations and standards all the time. Innovation and adapting to it are the key to the survival of large, long-established industries— of which agriculture is a behemoth. The time for agriculture’s necessary transformation is now, propelled by external elements, including resource and environmental constraints, constraint, legal pressure, consumer preference, the speed and intricacy of new technologies. The myriad challenges facing the agriculture sector can’t be resolved through closed development, however, making the use of open innovation a decisive factor in helping companies to stay pace with the market.
Because knowledge is open and fluid today; people with the next maverick idea are more connected than ever despite physical and proprietary separation. Fortunately for large companies, people with new ideas innovations are increasingly open to sharing their IP in exchange for resource infusion and investment that enable them to scale. The disadvantage is that technology occurs at unprecedented accelerated rate, leaving those that do not stay responsive to external innovation behind from the start.
Longstanding and exclusive buyer and seller relationships, demographic shifts in the farming community, the complexity and expansiveness of agriculture technologies, and limited evidence of its application make agriculture an obvious candidate to leverage open innovation. By building a transparent and collaborative open innovation platform, diverse stakeholders now have the chance to plays a break down siloes and closed transactions to share new knowledge, ideas, and teams. In providing the ecosystem for collaboration, open innovation elucidates real problems and makes the case for technology application to solve them. The open innovation approach, whereby firms incorporate external ideas, new actors, and open data into their purview, these new relationships will pave the way for agriculture’s transformation.
THRIVE’s Open Innovation platform brings together stakeholders across the agriculture value chain to understand industry challenges, evaluate, track, and benchmark new technologies, define areas of collaboration, and highlight success. An annual program, Open Innovation combines internal benchmarking, open innovation workshops, bi-annual open innovation forums to forge new relationships, and build evidence for new technologies and solutions where it currently does not.
Open innovation aims to build credibility and trust between old and new actors by sharing evidence and focusing on results across the agriculture value chain. The adoption of new technologies and success of feeding the future can’t happen without it.