FarmSense

Interviews this week: 10Total Interviews: 110

ChristineSu

Preeyanka Shah BradAllen

JenniferTsau

Mobile Farm Management for Specialty Crops

FarmSense

Final Video

CLICK HERE

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We’ve come a long way! (Emphasis on LONG)

• We started off with some bad ideas…

• And some REALLY BAD ideas…

That’s DUMB

• And some that were pretty good, but small..

“Deere John Acting Troupe”

FarmSense

But we knew that with a resilient, thoughtful team – we’d figure it out

ChristineSu

Preeyanka Shah

BradAllen

JenniferTsau

• Role: Cust Dev & Evangelist

• Joint MBA-M.S. in Land Use and Agriculture

• Passionate about agriculture: worked on a family dairy to a $500m industrial grower, and three startups in the space

• Formerly an operations executive at KKR

• Role: Cust Dev & UX Architect

• MS in Civil Engineering (Atmosphere and Energy)

• Mechanical engineer with experience in computational/applied mechanics, and hardware design and prototyping

• 4 years in supply chain management with Northrop Grumman

• Role: Cust Dev & Product Lead

• MS in Electrical Engineering (focus on machine learning and optimization)

• Experience in web design, product design, and leadership development

• Prior roles with EnerNOC, a demand response company and Indicorps, a grassroots NGO in India

• Role: Cust Dev & Long-Term Eye

• MBA

• Experience in early stage start-ups and managing market release for products

• Formerly a chemical engineer, Bain consultant and Teach for America corps member

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Starting out, we knew we wanted to marry technology and agriculture – but that’s about it

+ =

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So we got out of the building:

… and talked to a ton of folks

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And gained a greater appreciation for farmers and what they value

Ron Yakota from TA Produce told us “The issue is there is no real good

ag accounting software out there. We use JD

Edwards and have to do a lot of our own

customization. It’s not taken lightly when you want to change a field size or add a field. We have our own software engineers who do the

modification. JD Edwards is old and has very little

support. “

The pickup truck is their office and they need

mobile solutions for farm management

- Sarai from Earthbound Farm: “The guys fill out the data on laptops in

their pickups”

- Dave from Blossom Hill Ranch wants activity recording from his

pickup onto his phone

- Doniga from Markegard Ranch does management from her pick up truck

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By Week 4, we felt confident in where we could work with farmers

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Honing in on MVP idea and initial features

MVP Features based on early adopter input (and validated

by other customer interviews)

DEMO

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But we still needed to understand how to reach farmers and demonstrate value

… so we got out of the building

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And developed some hypotheses to reach our first customers

Week 7

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Get, Keep and Grow

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We have a differentiated perspective on GTM and development relationships in CA

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What do we need to build our product?Week 8

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We have developed a plan to validate these hypotheses about the product & market

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We believe that with the right focus, we can have a sense of this idea’s potential in 6 months

BMC Area MetricValue Proposition Price: $100/month

Competitor charge: $70-100

Customer Relationships Web CAC / CPC: $56 / $0.91 # new customers / PCA: 10# new PCAs/month: 4# new customers/month: 40 PCA + 10 web

Operating Costs Fixed• $5,000-10,000 mobile + web

app• 50k/yr each for 3 in-house

developers Variable: • 5% PCA referral commission• $500 a month for web

marketing

Revenue ASP: $100Lifetime Value: $2400 (2yr)

Burn rate Burn rate / month: $2000Months to run out: 12

FarmSense

Thank you

• Bob Garrow• Jorge Heraud • Steve Blank• Maura O’Neill• Jeff Epstein• Jim Hornthal• Soumya Mohan• Stephanie Zhan• EE 245 Classmates• Robert Trice• Venture Studio Residents and Staff

The hundreds of people who we talked to and have given us insight, support, feedback and advice!

FarmSense

BACKUP

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Week 1

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Week 2

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Week 3

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Week 4

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Week 5

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Week 6

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Week 7

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Week 8