Corteva Agriscience is embarking on a transformative journey to enhance its innovation capabilities through a newly established investment and partnership platform known as Corteva Catalyst. Dr. Tom Greene, who leads this initiative, emphasizes the importance of external collaboration in the agricultural technology sector, particularly in areas such as gene editing, biologicals, tech platforms, and decision science. This shift from a previously opportunistic approach to a more intentional strategy aims to position Corteva as a formidable player in early-stage venture capital, an area where it has historically been underrepresented.
Corteva Catalyst emerged from strategic work conducted in late 2022 and early 2023, during which the organization recognized a gap in its engagement with early-stage startups. Greene pointed out that while Corteva had participated in broader venture capital activities over the past decade, there was a lack of targeted focus that could drive meaningful innovation. The platform now provides a structured approach to identify, partner with, and invest in promising startups that align with Corteva’s strategic objectives.
The initiative builds on Corteva’s previous successes in gene editing, particularly its partnership with Caribou, a company stemming from Jennifer Doudna’s CRISPR lab. This collaboration allowed Corteva to access cutting-edge intellectual property and establish connections with academic institutions, demonstrating the potential benefits of early-stage investments. Greene’s vision for Corteva Catalyst is to replicate this success by seeking out innovative technologies that can accelerate the company’s internal research and development efforts.
Corteva Catalyst is not just about financial investment; it encompasses a broader strategy that includes direct investments, partnerships, and collaborations. The platform targets investments at the Series B stage or earlier, with typical check sizes of $10 million or less, although larger amounts may be considered if necessary. This flexibility allows Corteva to create mutually beneficial relationships with startup founders and venture capitalists, with the goal of fostering innovation that can lead to product development.
Greene envisions success for Corteva Catalyst as the ability to either acquire companies or access their technologies for integration into Corteva’s product lines. The focus is not solely on financial returns but rather on accelerating innovation that can lead to tangible advancements in agricultural practices. Greene notes that if, after five years, the platform has not facilitated technology transfer or acquisitions, it would prompt questions about its effectiveness.
To ensure they do not miss out on promising opportunities, Corteva Catalyst employs a proactive approach to landscape emerging areas of interest. This includes leveraging AI and machine learning tools, collaborating with external partners like Ducera Growth Ventures, and engaging with academic institutions known for their research in agricultural technologies. Such efforts have already led to investments in companies focused on biologicals and gene editing, indicating a robust pipeline of innovation.
In a landscape where many venture capitalists are retreating from food and agriculture investments, Greene believes that Corteva’s commitment to innovation can be a beacon of hope for startups and investors alike. By focusing on accelerating the path from innovation to market-ready products, Corteva aims to address the historical challenges faced by agtech companies in achieving successful exits.
One of the most exciting areas for Corteva is gene editing, where the company boasts a strong team of scientists and a wealth of external expertise. Greene highlights the rapid advancements in genome editing technologies and their potential to revolutionize crop development. By integrating multiple disease resistance genes into a single plant, Corteva can achieve results that traditional breeding methods would take years to realize. This capability positions Corteva at the forefront of agricultural innovation, enabling the development of crops that are not only resilient but also tailored to meet the evolving needs of farmers and consumers.
As Corteva Catalyst continues to evolve, its impact on the agricultural technology landscape will be closely watched. The initiative represents a strategic pivot towards intentional partnerships and investments that could redefine how innovation is harnessed in the industry, ultimately benefiting farmers, consumers, and the environment.