"Technology is a means to an end. So I'm lucky enough, and maybe it's not just luck, it's choosing people that can respect that and understand that the technology they're building is there for a reason."

Shely Aronov - CEO & Co-Founder, InnerPlant

Pathfinders Ep. 2: Shely Aronov of InnerPlant

Navigating the Complex Terrain of DeepTech Innovation

The Unique Challenges of Deep Tech

DeepTech ventures face a distinct set of challenges that are different from those encountered by traditional software companies. Kira outlines these challenges—capital expenditure, long sales cycles, complex supply chains, and regulatory hurdles—calling them "DeepTech deltas." These deltas necessitate a different approach, one that requires founders to be not just innovators but pathfinders.

Shely Aronov and InnerPlant exemplify this requisite resilience and strategic acumen. InnerPlant’s revolutionary aim is to transform plants into living sensors, capable of early pathogen detection directly from the field. The journey hasn't been easy, but Shely's outlook on showing traction is insightful.

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"The hardest thing is it takes you forever to build a product and you have to sell something before it's ready. Showing traction is harder because the way you show traction is by bringing partners on board early to build with you" – Shely

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Quest for High Margins and Scalability

Scalability and high margins are the cornerstones of Shely's business philosophy. For InnerPlant, this means prioritizing seed technology and focusing on commodity crops like soybeans and corn rather than niche, high-value crops like grapes or tomatoes. Shely phrases this choice succinctly, "There are 80 million acres of soybeans in the U.S. versus 1 million acres of grapes. Grapes are worth more but who cares? It is an equation. 80 million times whatever, right?"

Beyond the Technology: Obsession with the Problem

Despite the high-tech nature of InnerPlant, Shely emphasizes that the technology itself is merely a means to an end. The ultimate goal is to solve a substantial problem for customers in a manner that ensures widespread adoption and profitability. This is a philosophy that DeepTech founders who are genuinely obsessed with the problem they aim to solve must espouse—a sentiment echoed by one of Shely's earliest mentors, Marta, who said, "If you're not obsessed with the problem, it's going to be a short-lived romance."

Facing Execution Risks and Future Challenges

While InnerPlant has successfully navigated past significant technological and market risks, Shely acknowledges that execution risks now loom large on the horizon. The transition from the lab to real-world application—bringing genetically modified plants from the controlled conditions of a greenhouse to the variability of the Midwest fields—presents new challenges that are both daunting and exhilarating.

In some ways, it’s easier for the company because the major hurdles are behind it, but in other ways, it's chaotic because there is still a lot of work ahead. This phase will involve "boots on the ground," dealing with logistics, moving physical products, and analyzing data on the spot.

Despite significant achievements, Shely remains cautious and grounded. "Until we exit the company, whether we sell it or IPO, nothing's done," she asserts. For her, it's crucial to keep the team focused and humble. She reminds her team that while validation from external parties might inflate their egos, the journey is far from over, the only difference is that now there is something to lose.

Conclusion: A Pathfinding Future

Shelly Aronov and InnerPlant epitomize the complex but rewarding path of DeepTech innovation. Her journey is a testament to the importance of strategic focus, resilience, and an unwavering commitment to solving substantial problems. As she moves forward, the lessons from her journey—prioritizing high margins, scalability, and staying grounded in the face of success—serve as a beacon for other DeepTech founders navigating the same uncharted waters.

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3 Key Takeaways:

• Market Focus and Scope: InnerPlant deliberately focuses on commodity crops like soybeans and corn, instead of high-value crops such as grapes or tomatoes. This strategic choice is based on the scalability and volume of these crops, which drives higher margins and profitability.

• Unique Challenges: Be aware of long sales cycles, heavy CapEx, complex supply chains, and regulatory hurdles, all of which require a different approach compared to traditional software companies.

• Traction Through Partnerships: Demonstrating traction before the product is fully developed can be achieved by forming early partnerships that help build the infrastructure and supply chains needed for the product.

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Thanks for reading! For more Pathfinders content, click here, or read more about this industry's anticipated challenges in our Synthetic Biology Insight Paper.

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