DECEMBERASIA BUSINESS OUTLOOK9AGRITECH STARTUPS: EMPOWERING FARMERS TO FEED THE WORLD WHILE PROTECTING THE PLANETIMPRESSIONSThe prototypical equipment of the recent farmer is rapidly expanding beyond conventional implements such as tillers, plows and tractors. Nowadays, one can include sky and space initiated cameras to the list, and sensors that examine microscopic nutrients. Most important of all these new tools is artificial intelligence. AI takes the ample amount of data that is gathered by those advanced equipment pieces which can turn it into insights that powers farmers for reduction of costs while increasing productivity and sustainability. This revolution in agriculture is timely producing enough food to feed a growing population while preserving land and safeguarding natural resources is becoming increasingly difficult due to climate change. The most crucial tools for the modern farmer are quickly replacing traditional tools like tractors, ploughs, and tillers. Technological Innovation with innovative startups As technology of agriculture scales to a multibillion-dollar sector, with innovative startups they are at the forefront of developing cutting-edge solutions. While working with several young companies through our renowned companies for Startups program, individuals been particularly inspired by founders who combine passion for agriculture which are needed for solving complex problems with digital technology. According to a study, post-harvest complex project damage for Indian farmers totals a startling Rs.93,000 crore. For the benefit of farmers ultimately, the startups in agriculture technology are playing a critical role in reducing waste and improving agricultural practices. The technology-based agricultural solutions are created in such a way that by reducing yield loss and wastage, they increase farm productivity and profitability. The world's population is projected to grow to 8.5 billion people by 2030, and in order to meet the unavoidable increase in food demand, players in technology-based agriculture are making significant contributions to achieving agricultural scalability.Major Developments that accelerated Large-scale Tech Adoption By using technology to improve the supply chain, particularly the inward supply chain, startups in the technology-based degree today have accelerated widespread tech adoption and removed many bottlenecks. By connecting them to online marketplaces, the producers were able to make the best use of their produce, expand the market for their agricultural products, and boost sales by exposing them to a large customer base. Agritech also made it possible to grade products, brought online labelling and tracking into the supply chain, and decreased leaks, damages, and losses during transportation by creating a much more effective supply chain. Moreover, building scalable business with fresh produce or perishable commodities like fruits and
< Page 8 | Page 10 >