Tech transformation: how agriculture is being redefined through digital innovation and startups
Source: Your Story on June 29, 2018
At a recent YES Bank panel and digital startup competition, it was evident that India’s digital boom was lending the Indian startup ecosystem a distinctly agri-flavour.
The convergence of mobile networks, broadband internet, cloud platforms, IoT, AI and open data is helping transform one of the world’s oldest professions. This is of great significance as agriculture and related sectors like dairy production form the backbone of the Indian workforce. Today, tradition is merging with technology as the IT services sector is helping open up new opportunities for both seasoned and emerging entrepreneurs.
New fronts are opening up across the sector from organic farming and hydroponics to drones and agri apps. Startups are also playing a key role in transforming agriculture, which accounts for half of India’s workforce, but only about 13 percent of its GDP.
At a recent YES Bank panel and digital startup competition, it was evident that India’s digital boom was lending the Indian startup ecosystem a distinctly agri-flavour.
The convergence of mobile networks, broadband internet, cloud platforms, IoT, AI and open data is helping transform one of the world’s oldest professions. This is of great significance as agriculture and related sectors like dairy production form the backbone of the Indian workforce. Today, tradition is merging with technology as the IT services sector is helping open up new opportunities for both seasoned and emerging entrepreneurs.
New fronts are opening up across the sector from organic farming and hydroponics to drones and agri apps. Startups are also playing a key role in transforming agriculture, which accounts for half of India’s workforce, but only about 13 percent of its GDP.
Entrepreneurship trends
An interesting trend to watch for is the rise of the number of agri-entrepreneurs, many of whom have no background in agriculture. There is more interest now in this sector compared to even five or ten years ago. Another indicator is the number of agri-tech competitions, awards and investors that are emerging. India’s demographic dividend is also attracting more youth segments to the agricultural sector, with cross-fertilisation across states, economic sectors, and scientific fields.
The challenges seem formidable, but need to be acknowledged and tackled. Thousands of farmers commit suicide each year due to debt problems, as documented by the National Crime Records Bureau (NCRB). This is a sad reality in states such as Maharashtra, Odisha, Gujarat, Uttar Pradesh, Karnataka, Punjab, Madhya Pradesh, Chhattisgarh, and others.
Many issues being tackled by startups relate to productivity and distribution, according to Sahil Kini, Vice President, Aspada Investment. There are large yield gaps in Indian farming as compared to its global counterparts, due to inadequacies in domains ranging from farm inputs and equipment to farming practices and retail connects. Multiple intermediaries, poor refrigeration during transportation, small farm sizes, and lack of fairness in financial stakeholders are other challenges.
Agri-tech startups
Today, the agri-tech sector is witnessing a number of startups in India disrupting everything from organic farming and equipment rentals to connected supply chains and cloud-based analytics. The startups in this report showcase the diversity in the sector, followed by an analysis of the broader ecosystem. Some cover pricing of produce, others include equipment marketplaces; still others cover digital workflow and smart supply chains.
Farms2Fork offers farmers water monitoring solutions that ensure better productivity by reducing water wastage. The solution includes IoT wireless soil sensors, AI support, and real-time analytics. While earlier agri-tech solutions were based on batch processing of data, Farms2Fork operates on real-time data.
Agribolo, founded in 2015, is a farming services platform spanning activities such as information dissemination, quality input procurement, market linkages, irrigation facilities and farming equipment. The franchise network, launched in Rajasthan, uses the aggregator model to connect farmers to experts, development institutions, financial services, and training institutes.
AgroWave, founded by an IIT Delhi alumna in 2017, aims to optimise agriculture supply chain using research, analytics, and technology. Demand and supply analytics connect farmers in Panipat, Sonipat, Harpur, and Rajasthan to caterers, retail shops, restaurants, and canteens.