Ankur Capital Powers Second ThinkAg2030 to Foster Collective Thinking on Future of Agtech in India
ThinkAg2030 (powered by Ankur Capital) was launched as a forum to explore frontiers of technology and its ground-breaking impact on Indian agriculture. Innovators, experts, Agri CEOs, entrepreneurs have a platform to brainstorm on future cutting-edge agribusiness opportunities. The idea is to foster innovation and accelerate growth in the AgTech startup ecosystem in India.
Photo Credit : ShutterStock,
Following the success of the event in Hyderabad, Thinkag2030’s second event was hosted in Bangalore on 27th of July.
Stakeholders from industry as well as scores of young AgTech entrepreneurs came together for an evening of stimulating examination of what lies ahead for Indian agriculture.
The subject of discussion was “How is digital technology changing farming?”
Speaking at the event Mr Vipul Mittal (Head, F&V, Big Basket) talked about challenges a farmer faces and how tech can be used to over come them. He said “We believe that tech adoption with farmers can be a true game changer in Indian agriculture. The biggest challenge today is the information asymmetry that exists amongst the farming community. Although we pay our farmers within 24 hours of procurement, for most farmers, getting the best price for the produce remains a problem for most farmers.”
New technologies that are emerging not only help the farmer get better forecast and higher yield, but also help other agri-stakeholders in their contribution and decision making.
Remote sensing and satellite imaging contributing to agriculture is not stuff of science fiction any more. Companies like CropIn Technologies are using these to address the information asymmetries that plague Indian agriculture and enabling financial institutions to get more confidence in their decision making to extend loans and insurance to farmers.
Krishna Kumar. CEO Cropin-technologies further added “Digitization in farming is real and here to stay. We know companies globally that can tell us where each grain of their produce is located and that is the kind of traceability comes when each farmer is connected. In our business, we see that as a soon to be mainstream reality.”
Anjaneya Prasad, Head TVS Credit “Digital technology will be a core part of our business strategy; there is plenty of data collected during the onboarding, risk assessment, collection and lending process with the farmer. This data is a huge asset for us. In our business, we have seen adoption of soft and hard tech by farmers. Although there is plenty of land to cover, connectivity challenges remain. “
Thirukumar from Ninjakart added to the points on business in ag using tech. “We move 100 tons of vegetables a day and for that rigorous planning with the farming community is needed. Tech is our backbone for great execution.”
In line with the forward-looking nature of the discussion, ThinkAg2030 also featured AgShowcase, where curated budding AgTech startups presented their products and solutions to the audience. The following companies presented.
Barrix Agro - Provides high-quality Pheromone traps for Insects
GrowYi - Develops IOT based tools for Shrimp Farming
Avanijal- Building automated irrigation systems
Intello Labs - Smartphone based grading system for pulses
Hyperworks Imaging - Grading and retail checkout systems
Grobomac - Robotics for farm mechanisation and produce
Farmdimension - A system to grow food in-house
Bhoomee - A platform that is integrated with cloud mobile and other digital technologies takes information and engagement closer to the farmers.
ThinkAg2030 is powered by Ankur Capital.
Around The World