Bushel, developed by the North Dakota software company Myriad Mobile, won the first Ag Innovation Pitch Competition hosted by Farm Credit Services of America (FCSAmerica).
Jake Joraanstad, co-founder of Fargo-based Myriad Mobile, was among six competitors pitching startup technology aimed at solving a challenge facing the agricultural industry. Bushel is a mobile app that replaces the paper scale ticket. Initially developed two years ago, it also allows producers to view bids with an elevator or cooperative, see contracts, review pre-pay balances and more.
“Our team is excited to bring Bushel to the market,” Joraanstad said. “We believe we really hit on something that farmers and ag retailers needed. It is one thing to have information available — it is quite another to have it easily accessible. Bushel accomplishes both, while also strengthening the relationship between farmers and ag retailers. When we see 75 percent adoption rates at ag retailers that have deployed Bushel, we know we’re fulfilling a need in the market.”
The Ag Innovation Pitch Competition was held at the Iowa Power Farming Show on Jan. 31, 2018, with support from seven co-sponsors that share FCSAmerica’s commitment to the future of agriculture. FCSAmerica’s co-sponsors included Advantage Capital, AgriTech, Figured, Innova, Koch Ag & Energy Solutions, Midwest Growth and Open Prairie.
“This was a great event that brought new technologies directly to the customers who may use them,” said Dave Martin, chief strategy officer leading all technology resources at FCSAmerica, including the financial cooperative’s new ag management tool, Magnify. “We have seen the value of partnering with a start-up to bring our Magnify solution to life and we will continue to look for ways to innovate in this space.”
As the grand prizewinner, Bushel took home $20,000. The winner was selected by panel of judges that included Martin as well as Iowans Mary Ebert, a family farmer and program coordinator for Guthrie County Extension and Outreach, and Susan Voss, a certified public accountant, Keokuk County family farmer and member of the FCSAmerica Board of Directors.
The crowd at the event awarded the $5,000 People’s Choice Award to AgriSync, which allows producers to track and solve support issues in real time with trusted advisors, including equipment dealerships.