Hack to the Future:
A Soy Market Challenge
Launch: August 31, 3 pm CEST (9AM EST)
Submissions Due: September 11, 2020, 3 pm CEST
Help seed the future with innovative ideas for widespread and sustainable impact!
Analyze market intelligence, create simulations, and present solutions to compete for cash prizes!
- 1st place $2,500
- 2nd place $1,500
- 3rd place $1,000
The United Soybean Board (USB) and U.S. Soybean Export Council (USSEC) are pleased to present Hack to the Future: A Soy Market Challenge. This is the second of a series of System Dynamics Hackathons in partnership with the System Dynamics Society and the University of Bergen in Norway.
Why the soy market? Soybeans are an important global crop with numerous possibilities for use. Soybeans are used in food, animal feed, and biofuels. They are being developed into environmentally friendly alternatives for use in industrial and commercial products. Soybeans produced in the US may be one of the most sustainably produced agricultural commodities in the world, yet the market share for US soybeans and soy products has not experienced the expected growth compared to other suppliers in the European Union (EU) market.
The goal of the Soy Market Challenge is to present new ideas and strategic approaches for increasing the market share of US Soybeans in the European Union (EU). The United Soybean Board, which represents US soybean farmers, seeks to better understand barriers to market growth and desires recommendations to enhance recognition and purchases of US Soy in the EU.
The Hackathon will be launched during a web meeting on August 31, 2020 at 3pm CEST. Teams of 3-5 participants will have until September 11, 2020 to develop and provide a System Dynamics analysis of intervention strategies that would have the largest positive impact on US market shares for soybeans and soy products in the EU, with particular attention on sustainability metrics that provide potential competitive advantage for US soybeans. There are generous cash prices for the top three teams.