Ag entrepreneur hopes to get the world by the tail

Published: Friday, August 26, 2016 By: Sarah Terry-Cobo Source: The Journal Record
for about $2.5 million to scale up his business, adding employees to handle the data management system, build and manage the computer software, and provide marketing. I2e’s Meacham said Akadiri is taking the right approach by seeking money to scale up his business, rather than just to make it through the beta phase.

“The real question is whether ranchers see enough value to purchase it,” Meacham said. “That is what you want to see as an investor.”

Akadiri received about $59,000 and business plan advice from i2E.

He attended the BIO International conference in June 2016 and in June 2015, pitching his product and seeking investors. Last summer it was harder to get people interested because he didn’t have a demo ready to show people. This year it was easier to pitch to potential investors. He said he’s scheduling meetings with Silicon Valley venture capitalists, as well as investors in the agriculture industry.

His genetics data management system can be used for other stock animals, and can also include other factors that affect cattle pricing, like weather and corn and wheat prices.

“In the next five years we want to be the Facebook of the livestock industry,” Akadiri said.

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