5 minute read
Introducing the ISA Soy Innovation Center
By Olivia Key
Each year, Illinois soybean farmers produce hundreds of millions of bushels of soybeans, providing consumers here at home and around the globe with the food, fiber and fuel they need. With yearly increases in production by the millions of bushels, thanks to the innovative nature of our state’s farmers, the Illinois Soybean Association (ISA) is on a mission to maximize profit opportunities for Illinois farmers by finding the next big use for Illinois soybeans.
Enter the Soy Innovation Center, a virtual hub managed out of ISA's Lombard office that aims to break down barriers to the commercial availability of soy-based products. The Center's goal is to offer customers viable, renewable alternatives to petroleum products and to help meet the growing demand for sustainably produced products.
ISA Director of Market Development Todd Main is the project lead for the Soy Innovation Center and predicts that Illinois’ well-established research and manufacturing facilities, robust financial organizations and skilled workforce will propel the project’s initiatives. “The State of Illinois is in a unique position to obtain a competitive advantage within the ag-tech sector, and this initiative will support the larger goal of making Illinois the agtech hub of the country, if not the world.” Main adds, “The Soy Innovation Center will be a hub to spur research, commercialize sustainable technology solutions and foster new collaborations in other various sectors, not just agriculture.”
On March 18, ISA gathered partners and stakeholders from the financial, agriculture, consumer and political sectors in Chicago to launch the Soy Innovation Center. There, attendees heard from various ISA Board and Staff members and notable industry professionals, including Barry McGraw, the Founder and CLO of Airable ResearchLab; Scott Halpin, the Illinois State Executive Director of USDA's Farm Service Agency; Peter Creticos, CEO of the Institute for Work & the Economy; and Josh Messner, Technology Manager for Bioenergy Technology Office, who joined as the keynote speaker.
“The launch event planted a flag for soy’s journey into the world of sustainability, where the opportunities are limitless. I’m confident that those in attendance left the event with newfound knowledge of and appreciation for the potential soy holds for consumers and companies across the world,” Main says.
The event served as an educational and networking opportunity for attendees. They sat in on presentations and panel discussions that covered topics such as the vision of the Soy Innovation Center and the opportunities it holds for Illinois farmers, and the projects and partnerships the Center hopes to foster.
As a visionary for the project, ISA Government Relations Committee Chairman Steve Pitstick was especially proud to give attendees insight into opportunities the Soy Innovation Center holds for Illinois farmers. “From the time I started farming my first soybean field when I was 15 to today, we have seen a lot of changes and growth within our industry. There’s new technology, innovative research, increased yields and prices, all providing us with a larger return. Our state has a trendline yearly growth in production of about 10 million bushels, and ISA’s Soy Innovation Center will help find new uses for those Illinois soybeans, thereby increasing demand, protecting our farmers’ bottom lines and moving the pile.”
The Soy Innovation Center will focus on supporting early and mid-stage companies. By providing makers and innovators with the expertise, connections and resources of ISA, the Center will accelerate the process of bringing soybased products to the market and putting them into hands of consumers.
The Soy Innovation Center will also play a pivotal role in aiding organizations to achieve their environmental goals, further supporting the decarbonization of our economy. In an era when protecting our environment is becoming more important, shareholders, clients, and consumers increasingly want to engage with organizations that demonstrate a commitment to environmental stewardship. Through its initiatives, the Soy Innovation Center will accelerate the availability of viable, commercial products to help organizations utilize sustainable soy-based inputs, fostering eco-friendly operations and mitigating environmental impact.
Although several ag tech organizations concentrate on developing solutions aimed at increasing crop yields, ISA's Soy Innovation Center distinguishes itself by actively supporting businesses, innovators and entrepreneurs in their efforts to bring soy-based products to the market. ISA recognizes the demand for sustainable alternatives, and the Center is committed to facilitating the commercialization and deployment of innovative soy-based products.
The Soy Innovation Center offers a comprehensive suite of advisory services and consulting tailored to the specific needs of companies incorporating the team provides expert guidance on a range of topics including product development strategies and market entry plans. These insights will help businesses rapidly scale. and diversify their offerings. The Center also is open to exploring strategic capital investments into organizations that align with its objectives to foster innovation and growth.
ISA’s Soy Innovation Center is now accepting Requests for Introductions from entrepreneurs, inventors, and doers who are working through challenges in commercializing, introducing, or scaling the availability of soy-based products in the marketplace. Visit soyinnovationcenter.com to learn more and start a conversation with the Center’s investment and diligence team.
