Agritech startups in India: A revolutionary idea giving birth to Agripreneurs
Author(s):
Partha Sarathy Adhya, Suresh Kumar Sahoo
Keywords:
Agripreneurs, Agritech startups, Big Data Analytics, Food-supply chain, IoT enabled innovations, Market-linked model, Supply Chain model
Abstract
Indian Agriculture employs ~45% of the country’s workforce and generates 17.5% of GDP with export earnings of more than US $ 41 billion in 2021. However, numerous operational and organizational challenges prohibit this sector from realizing its potential worth. Various socio-economic challenges including smallholder farmers, infiltration of Farmer-Producer Organizations, shortage of agriculture-related information and conflicts of actual pricing awareness plague farmers. In an attempt to increase the income of farmers, Government of India is exploring means to enhance agricultural producing, improve processing of foods and explore advertising and promotion options via implementation of state-of-the-art skills. Recently, India has seen a spurt in the number of agritech start-ups that are not only making latest technology available but also helping farmers to better their lives. Indian farmers are now confident to make the digital leap owing to greater accessibility. Agritech start-ups are showing a spike in Big Data Analytics, Supply Chain/Market-linked Model, FaaS, and IoT-Enabled Innovations. India’s agritech start-up ecosystem has flourished recently and nearly 1000 agritech start-ups are operating at different levels of agri-value chains contributing around 9 percent with a value of USD 313 million clocking 29 per cent Year-on-Year growth. Business models in agritech are still in an embryonic stage. Income representations could range from margin-based to transaction-based to subscription-based, based on the sector. As the target to attain higher revenue looms on the horizon, agritech start-ups can attempt a horizontal integration of stakeholders into a platform model where end-to-end affiliation with farmers is streamlined. Nascency in funding and minimum infiltration by current agritech firms provide an opportunity for recognized actors like e-commerce, established retailers and food processing giants to create impact of scale. The expected revenue generated from agritech in India is expected to be USD 24 billion by 2025, of which only 1 per cent has been realized.
Article Details
Unique Paper ID: 157018

Publication Volume & Issue: Volume 9, Issue 5

Page(s): 687 - 702
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