Trucco: “I do not buy that if Bezos had been born in Argentina, Amazon would not exist”

In the midst of an extremely critical panorama for producers due to the drought that affects a large part of the country, one of the most anticipated words at the Federal Bioeconomy Summit was Federico Trucco, CEO of Bioceres. It should be remembered that the company developed the transgenic wheatpresented as a solution to climate problems and was recently approved by the Government.

“I loved hearing what they had to say. political actors who are beginning to understand how the knowledge society works, the construction of intangible assets, to participate in this process and to do it in a way where there is no crack”, Trucco stressed in the first place. Next, he referred to the 20 years of the company and highlighted its social capital. “Bioceres was born in 2001 here in Rosario with 23 agricultural producers and today it has almost 400 shareholders”, he pointed out.

Likewise, he highlighted the union within the firm, highlighting that “in all these years there has never been a shareholders’ meeting with a dissenting vote.” Along these lines, Trucco recounted how he maintains the interest of shareholders in difficult times and stressed that “the first thing is to be clear about the purpose of the company.” “Although everything Bioceres does has a business logic, its shareholders are not people who sought to increase their wealth”, he indicated. “As an organization what we seek is to achieve a multiplier effect,” she added.

Federico Trucco: “Argentina can lead in biotechnology at an international level”

Bioceres on Wall Street

In april 2021the Argentine agricultural biotechnology company began trading on the Nasdaq Wall Street Tech Index. However, the entry was not easy. In that sense, Trucco recalled the first time they traveled to the United States with the intention of going public and could not.

“If you ask me what was the second worst moment of the history of Bioceres it would be difficult for me to identify it, now the first one is simple. It was in January 2018 when 50 farmers, investors from Bioceres, traveled to New York to try to get up on a balcony to try to ring a bell at the moment of opening of the capital market and that finally didn’t happen”, he recalled. “I remember walking through the corridors of the hotel, already knowing that it was not going to happen, seeing them celebrate and congratulating me on the possible price and, luckily, the hotel window cannot be opened because if I had not done something crazy, “he said .

“Later, when the situation that we were not going to list was cleared up, there were five minutes of depression and then there was relief,” he said. “The most interesting thing about that moment is that the one who suffered the most from that failure was me. I would have preferred not to “get off” by not listing, but the important thing to understand is that when you invest in a company that is just starting out, It’s good that losing the person who is going to lead the team hurts the most”, he stressed. “That aligns expectations,” she added.

On the other hand, Trucco argued that we must realize that “we are not punished for being Argentines.” “That phrase that if Jeff Bezos had been born in Argentina, Amazon would not exist, I did not buy it,” he asserted. “We cannot resign ourselves in that way,” he warned.

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Bioceres, partner of the State

Regarding the decision to reach an agreement with the province of Santa Fe, the CEO of the firm pointed out that “if the purpose is cultural transformation, the truth is that, to achieve the final objective, the economic resources could have been originated with greater ease in any other type of pocket, but it would not be giving the province the chance to understand this world”. “For me that is more important than the economic resource that Santa Fe can give me,” he declared.

I think that if we are both on the same side we will begin to design policies that will be more conducive“, he claimed. “Having the public sector and the private sector participating on the same side of the counter is mandatory if we really want cultural transformation,” she said.

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currency creation

Finally, Trucco referred to the way currencies are created and gave, by way of argument, an example: “Bioceres has a company that is listed on the capital market called Bioceres Crop Solutions, which is dedicated to biological inputs and is known mainly for two things worldwide, the HB4 technology (transgenic wheat) and the business of inoculants”. “HB4 technology until three months ago did not generate a single dollar and its initial marketing will take place in the country. Nevertheless, if tomorrow in the market I say that this technology no longer existsis unsubscribed because it did not work, automatically the share value, today is at $ 14, collapses 50% and that is wearing $500 million of market capitalization,” he said.

“By this I mean that there is a future expectation that currently generates between US$400 and US$500 million of real value. Therefore, building companies in Argentina using the knowledge and talent of scientists to later build assets in the international capital market is a way to generate foreign exchange”, he assured.

MR

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Trucco: “I do not buy that if Bezos had been born in Argentina, Amazon would not exist”