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Objective: to analyze the business model of the agricultural company based on the plant microbiome that is the first to achieve the Unicorn designation.
Design/ Methodology/ Approach: this paper reports a single case study by applying the deviant case technique. This approach was chosen because Indigo Agriculture (Indigo Ag) is paramount as a company specialized in agricultural technology that has achieved the top position on the list of the 50 most disruptive companies in the world.
Results: this analysis of the business model reveals how the company has overcome the adversities of agricultural activity, transforming disadvantages into advantages. This was achieved through the convergence of technologies such as computational biology and machine learning. As well as building alliances with universities, seed production companies, microorganism breeding companies; with granting of guarantees for farmers through shared risk and technical support. It is also notable that they preserved the identity of those sustainably produced grains through direct links between farmers and buyers.
Limitations/ Implications of the study: business confidentiality and lack of public financial data limited this study to a qualitative analysis based on secondary sources, such as industry reports and documented interviews with experts. This limitation restricts the financial evaluation of the profitability and economic efficiency of Indigo Ag's business model.
Findings/ Conclusions: innovations developed by Indigo Ag are centered on plant microbiome. However, there are several additional elements that explain the high performance and rapid positioning of the company.