Adopt challenge-led innovation to tackle your highest priority challenges
Challenge-Led Innovation is not a new concept. Challenge-Led Innovation, or more commonly ‘open innovation’, is a tried and trusted approach that has helped solve some of the biggest challenges facing humanity and has unlocked what seems to be impossible frontiers.
In fact, Challenge-Led Innovation dates as far back as 1927 when a prominent New York hotelier awarded Charles Lindbergh the $25,000 Orteig Prize for the first aviator to fly his Spirit of St Louis non-stop from New York City to Paris. In 2004, the $10 million Ansari XPRIZE was awarded to Mojave Aerospace Ventures’ SpaceShipOne as the first non-government organisation to launch a reusable manned spacecraft into space within two weeks. The winning technology was licensed by Richard Branson to create Virgin Galactic creating a new $2 billion private space industry and making price space travel commercially viable.
The Beanstalk team brings all the strengths that challenge-led innovation has to offer to Asia-Pacific agriculture and food and connecting the region with high growth and emerging tech startups that are reinventing our food system.
live case studies
Carrot Pomice Waste
Working with Australia’s largest processor of tomatoes, carrots and other crops we identified their highest ROI challenge to solve was the 4,000 tonnes (and growing) of carrot pulp by-product going to waste every year instead of value adding. This is a significant business opportunity. We undertook a technical review of all potential end products and ingredients that could be produced and currently engaging 10 companies from across food manufacturing, construction materials, insect farming, paint manufacturing and bio-plastics in advanced commercial off-take and product development collaborations to trial value adding opportunities to carrot pomice byproducts.
Live Export Heat Stress
The Australian live export industry is facing community and industry pressure to find a solution for the reduction of wet bulb temperature for sheep exports from the Australian winter into the Northern hemisphere summer. We reviewed over 150 early stage startups and established technology providers, conducted due diligence and initiated a commercial trial of six technologies across micro-climate environmental monitoring designed for military personnel, biometric sensors, satellite guided route planning based on real time ocean surface temperatures, industrial dehumidification from underground mining and rapid cooling sprays from the firefighting industry.
Dairy Supply Chain
Working with one of Australia’s leading dairy businesses and largest exporters of fresh milk into South East Asia, we identified the highest ROI opportunity was to use a customer centric approach to developing a supply chain traceability solution. The dairy company is using an open and innovative approach to develop an industry first education and traceability platform positioning the company and the Australian dairy industry as a leading producer of dairy as a health product. We scouted in excess of 120 technology providers that can help enable this vision and currently validating its customers’ needs to inform which technologies to bring to trial phase.