19. GREENTECH: How to scale an AI satellite tool to make agriculture more sustainable through data science, with Will Wells (Hummingbird)

Mission First - Entrepreneurs for future

Welcome to Mission First, the masterclass to learn from successful entrepreneurs changing the world for the better!

TODAY'S EPISODE

Starting and growing a tech company is never easy, especially if you are trying to have a high impact on a global market like the food and agriculture industry.

Developing an AI technology is a very fancy and trendy topic, but you can only be successful if you find a real paint point to solve, so

- How should you best try to find product market fit in such a busy, technological and competitive market?

- How much funding should you raise?

- How long should you try before you decide to pivot?

- How should you expand and internationalize: should you go in attractive but expensive markets like the US?

Well, these are all questions that we are going to answer in today's episode.

I am very excited to receive our guest Will Wells, founder and CEO of Hummingbird Technology, an artificial intelligence SaaS platform that helps food and agriculture business to be more efficient and sustainable. They use drone and satellite enabled data and imagery analytics for example to help reduce the chemical usage of farming

Started in 2016 and they are already in the commercial scale up phase with 60 employees in 10 different countries. They are in their Series B funding and raised 20 million $ so far, and they should reach break even next year.

Will prepared a list of 8 Do's and don'ts about

💡“raising funding, finding product market fit, expanding your company globally, and pivoting from B2C to B2B!”💡

If these topics resonate with you, you won't be disappointed.

Will Wells and Hummingbird:

• Will Wells on Linkedin
• Hummingbird’s website

⚡️⚡️⚡️DONT MISS the best of season 1 ⚡️⚡️⚡️= 10 episodes of less than 10 minutes to download and listen to here.

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Rozdziały

1. Passionate about the environment and Humminbird first idea (00:06:40)

2. AI input data (00:12:37)

3. Do raise more money than you need (00:15:21)

4. But don't take anyone's money (00:17:14)

5. Where to find investors at the beginning (00:20:26)

6. Don’t just chase after the easiest or most opportunistic short term revenue opportunity (00:28:50)

7. Do follow your heart on an early pivot (00:32:44)

8. Dont ignore the US early on if its your best market (00:40:56)

9. Best advice received as an entrepreneur (00:56:05)