Will agri tech startups save Indian agriculture?
What are they thinking?
What are they thinking?
Reports say that Indian agriculture is in a mess. Venture capital firms and tech startups aim to set it right.
Why do they think so?
A group of VCs, founders and enthusiasts gathered at Chai & Chatter yesterday. They predict that startups can solve two key problems.
Information asymmetry
Farmers and buyers do not have the key insights to decide things. Startups can offer real time insights about the prices and demand.
Operational inefficiency
Lack of infrastructure causes losses to farmers and service providers. Most start ups are tackling post harvest problem such as processing and supply chain.
They can have the maximum impact in…
Crop improvement
Waste reduction and value-addition
Efficient input use
Mechanisation of farm chores for higher precision and drudgery reduction
And greater use of modern information and communication technologies.
Why do startups matter?
Centre and state governments churn out newer technologies.These technologies do not reach the farmers. Startups can fill up this gap by commercialising these technologies and addressing the market.
Following startups discussed how they are solving the problems of Indian agriculture.
Agrowave: Anu grew up in a village, went to IIT. She is using data to minimise losses and increase the efficiency.
Arboreal: Swati saw a gap in agri bio technology. She uses a technology which extracts 50% more sweetener from stevia leaves.
Jai Kisan: Arjun runs a fin-tech company focussing on farmers. It cuts down the delays.
Crofarm: Varun is building a new age supply chain. It aggregates demand from businesses and passes it on to the producers.
Bigger picture
Delhi-NCR can develop as one of the biggest centres of agri tech startups. It already is the country’s biggest agricultural trading market. It has access to the growing regions in the near by states of UP, Punjab, Haryana and Rajasthan.
Startups can provide markets and farmers easy to use technologies that ensure higher productivity and income, at lower cost.
Presence of Indian Council of Agricultural Research will be of great help, as they can tie up with Krishi Vigyan Kendras.
Attracting talent is a problem, which most startups face. Surinder Sud writes that skilling the rural youth will solve this problem.
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