There’s a common misconception in the alternative protein space that continues to hold back innovation: the idea that conventional and alternative products are direct competitors. In general, the idea that consumers are dropping conventional milk for soymilk, or eschewing chicken in favor of plant-based nuggets just isn’t reflected in the data. More often then not, consumers buy both conventional proteins and alternative proteins, often at the same time. Acknowledging this, we have a lot of conviction that the future of alt-proteins writ large offers a lot of opportunities for conventional protein producers as well.

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Michael Hampson, CEO of Norco Cooperative Ltd., agrees. Since taking over leadership at one of Australia’s largest, farmer-owned dairy coops, he’s helped lead a change journey that has led recently to a new partnership with Eden Brew, which created a precision-fermented milk alternative that can be produced in conventional dairy facilities. 

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In this episode, Michael speaks about:

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• Leading a cultural change at Norco that encouraged managers to be bold in tackling opportunities while thinking about failure as a professional development opportunity
• Wading into a partnership with dairy-alternative Eden Brew, and how he managed the critical reception within the cooperative
• What he looks for when evaluating agtech or business development opportunities 

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Useful Links:

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• Learn more about CSIRO and Main Sequence, as mentioned by Michael in the episode
• Check out a past exploration into New Zealand’s Dairy Pollution Problem: How an Urgent Issue is Driving Innovation
• Consider a shock scenario with us– What if global demand for beef and dairy dropped by 20%? 
• Don’t miss the Alternative Protein Debate from Australia’s first virtual, national agtech meetup (video or podcast)
• Explore our look at an adjacent space, alternative eggs, from Unscrambling Go-to-Market and Brand with Tajya Bogumil from Perfeggt
• Dive into a classic AgTech… So What? episode where we looked at a US-based bit of dairy farm tech with Carl Lippert
• We’re fundraising for Tenacious Ventures Fund II, out loud To learn more about investing in Fund II, click here

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The information in this post is not investment advice or a recommendation to invest. It is general information only and does not take into account your investment objectives, financial situation or needs. Before making an investment decision you should read the information memorandum and seek financial advice from a professional financial adviser. Whilst we believe Information is correct, no warranty of accuracy, reliability or completeness is given, except for liability under statue which cannot be excluded.

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