About 4000 stakeholders involved in Agriculture industry from 80 countries gathered in Lexington, Kentucky for ONE17- Alltech Ideas Conference an iconic event, which certainly validates its popularity.70 speakers, including the brightest international minds in science, agriculture, technology and business joined recently concluded 3-day event from May 22- 24, 2017.
The theme of the 33rd edition of the conference, “Disrupt the Disruptors,” was all about changing the status quo and shaking up the industry by developing and embracing products and ideas that save time and money, improve efficiency and are user friendly at the same time.
The industry leaders and key note speakers incepted some thought provoking ideas that can surely be taken advantage of if followed at the right time with the right zeal. One of the key highlight at the pre-function area was ONE Vision, a stunning 10,000-square-foot, state-of-the art interactive exhibit that explores the future of food and of our planet.
“Great companies sell the dreams while mainstream companies sell the product,” said Dr Pearse Lyons, founder of Alltech. The man who himself started his journey with a dream, the innovative entrepreneur commenced his pursuit of disruption with Alltech. Disruption, after all, begins with just ONE great idea.
Peter Diamandis, founder of the XPRIZE Foundation and co-founder of Singularity University, addressed attendees on disruptive innovations, highlighting that the only constant is change, and the rate of change is increasing. “To stay ahead in any industry, companies and entrepreneurs must think in an exponential way, as it’s exponential technology that will transform every industry,” he said.
He was awarded the Alltech Humanitarian Award, which is bestowed annually to someone of strong character who uses their accomplishments to positively influence and inspire other people.
As much as every one of the speakers highlighted the need to move further and embrace the technological innovations, Jack A. Bobo, Senior Vice President, Chief communication Officer, Intrexon, on the other hand highlighted “People love innovation as much as they despise change” i.e. embracing change may be imperative but it is not always comfortable unless it is coupled with innovation.
Hence it was left to the young innovators and disruptors how would they club their ideas of disruption with the convenience of adaptability.
One such disruptor- George Blankenship received Alltech Excellence Award for his efforts in achieving unparalleled customer experience during his leadership role in Apple and Tesla, The two brands that have redefined how people could look at technology.
With 3-5 billion people who will join the global economy in next 10-15 years time, it assures a path of change in the way food is produced today. Dr Mark Lyons, Global Vice-President and Head of Greater China, rightly mentioned “There would be more production requirement without increasing the agriculture land.”
Furthermore, Robert Walker, CEO-KENNAN stressed on the rate of rise in incomes will be comparatively higher in present era of intelligence with income now doubling itself in a period of 15 years compared to doubling in a period of 25 years in the past era of information.
During his talk, he highlighted how KEENAN partners with technology companies such as Vodafone and Intel to provide farmers with instant information on their herds’ feed ration through cloud computing.
Last day of the event started with various focus sessions on opportunities in different parts of the globe, where session on Emerging Markets, presented opportunities & challenges in some of the disruptive Asia-Pacific countries.
Cambodia, Mongolia &Myanmar-market potential for exponential change
Focusing on the southeast side of the globe, on the southern side-Cambodia has been a growing market with clear government targets of increasing the agriculture growth at rate of 5 percent per year which is to be achieved with increase in crop yield, livestock production and aquaculture growth, said ChannaritKy, Alltech Thailand.
Another country in the same region-Myanmar, referred as the next Vietnam in terms of feed production, increasing corn production, growing poultry consumption and its geographical potential of reaching nearby countries makes it an attractive destination to invest in, said Chanatip Padungdetpasuton, Alltech Myanmar
Mongolia is the beef ground for the feed industry which is largely dependent on imports. The country has great growth potential for agriculture sector, as 73.6% of total land is agriculture land which can be used for further production. The country is expected to be a potential beef exporter in next 2-3 years, explained Zambaga Tulga, Mongolian Program Director at Alltech.
Vietnam: Market of Moped, Meat and Milk
The country has been economically growing at a rate of 6% in 2016 and has a feed requirement more than that of China. Consolidated agriculture industry providing present employment to 46% of population will be 25-30% by 2030. The largest exporter in ASEAN countries has been the most disruptive market in Asia-Pacific and become the next investment destination for the investors-‘China plus One’, concluded Matthew Smith, Vice-President for Alltech Asia-pacific.
India: Land of invisible innovations
The country with a glorious history with 3rd largest economy in the world offers unlimited opportunities in agriculture and livestock sector. Being the 2nd largest English speaking country in the world, highlighted about its young talented, hard working population, improving infrastructure and stable government. Present statistics states 71% of its non-vegetarian population has 3kg per capita chicken consumption which is far below the world average. Indian Dairy sector is largest milk producing country in the world with its 300 million animals, the country still has immense potential of improving milk production. Hence it’s the most attractive destination for investment that cannot be ignored, said Dr Aman Sayed, Managing Director-India and Regional Director-South Asia, Alltech.
Russia : a huge investment opportunity
Eighty percent of consumption is met within Russia but quality of produce is still a concern. The country’s agenda has changed from import driven market to be an export market. The key to Russian riddle is in Russian national interest and pride. As long as they are committed to a self sustained growth this country is unstoppable.
Overall, the latest and most informative insights from ONE 17 left the participants enthralled and inspired to find that ONE idea can disrupt the market.The conference will return to Lexington, Kentucky, USA, May 20–23, 2018.
Visit one.alltech.com for highlights from the event. Presentations will be made available in June on the Alltech Idea Lab.
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