{"id":13101,"date":"2019-08-19T12:20:43","date_gmt":"2019-08-19T06:50:43","guid":{"rendered":"https:\/\/www.technologyforyou.org\/?p=13101"},"modified":"2019-08-19T12:20:43","modified_gmt":"2019-08-19T06:50:43","slug":"more-than-450-start-ups-in-the-indian-agritech-sector-nasscom-report","status":"publish","type":"post","link":"https:\/\/www.technologyforyou.org\/more-than-450-start-ups-in-the-indian-agritech-sector-nasscom-report\/","title":{"rendered":"More than 450 Start-ups in the Indian Agritech Sector : NASSCOM Report"},"content":{"rendered":"

\u2022 48% Agritech CEOs, believe to have the next Agritech unicorn in the next 3 years.<\/span><\/strong><\/p>\n

\u2022 B2B emerging key revenue generating segments in the overall Agritech sector; received over <\/span><\/strong>200mn funding in the past 18 months.<\/span><\/strong><\/p><\/blockquote>\n

New Delhi, India, August 19, 2019 :<\/strong> As digitization expands its horizons and permeates into sectors beyond <\/span>IT services, the National Association of Software and Service Companies (NASSCOM) recently unveiled <\/span>its findings for India’s Agritech sector in its report titled, “Agritech in India Emerging Trends in 2019\u201d. T<\/span>he emergence of B2B start-ups as key revenue generating segment; maturing Agritech stakeholder <\/span>ecosystem; evolving public private partnerships; sustained growth for Agritech start-ups in India and <\/span>emerging business opportunities are some of the noteworthy findings being showcased in the report.<\/span><\/p>\n

Growing at the rate of 25% year on year, India currently hosts more than 450 start-ups in the Agritech <\/span>sector. Over the recent years, the Agritech sector in India has witnessed some of the global and sector <\/span>focused funds directly investing in Agritech startups. According to the report, as of June 2019, the <\/span>sector has received more than USD 248 mn funding, a massive growth of 300% as compared to the <\/span>previous year. With the recent rise in funding, 48% Agritech CEOs, as per the NASSCOM Agritech CEO <\/span>survey, believe to have the next Agritech unicorn in coming 3 years.<\/span><\/p>\n

Sharing her thoughts, Debjani Ghosh, President <\/span><\/strong>NASSCOM, said,<\/strong> \u201cIndia’s agriculture sector is <\/span>advancing steadily towards its digital<\/span>
\ntransformation and the start-up ecosystem is <\/span>playing a critical role here, bringing innovation and <\/span>disruption in much-needed areas. Adoption of <\/span>technology in agriculture has always needed a <\/span>structured institutional focus and technology firms <\/span>are trying to break into the agricultural landscape <\/span>using newer business models. The findings of the <\/span>report are a testimony to the potential of the <\/span>Agritech industry and the opportunities that India <\/span>presents in the agriculture and farming landscape.<\/span><\/p><\/blockquote>\n

With more and more local farmers accepting the <\/span>innovative start-up solutions, there has been a <\/span>considerable shift witnessed from B2C to B2B startups. Corporates and investors are playing a vital role <\/span>in supporting this with over USD 200 mn investment in B2B start-ups in the past 18 months, making <\/span>it as a key revenue generating segments in the overall Agritech sector. This has enabled creating better <\/span>access to market, faster technology adoption and bring domain specific product development support <\/span>to the industry.<\/span><\/p>\n

MATURING ECOSYSTEM – FROM QUANTITY TO <\/span>QUALITY<\/span><\/strong>
\n\u2022 USD $ 248 mn funding received till June <\/span>2019<\/span>
\n\u2022 Funding in H1 2019 is more than <\/span>H1 2018 funding<\/span>
\n\u2022 Every 9th Agritech startup in the world is <\/span>originating from India<\/span>
\n\u2022 1.7X increase in average farmer income in <\/span>last decade, enabling farmers to try new <\/span>tech solutions<\/span>
\n\u2022 More than 50% of Agritech Start-ups offer <\/span>supply chain solutions like market <\/span>linkage, better access to inputs etc<\/span>
\n\u2022 \u2018Make in India, for the World\u2019 Indian <\/span>companies increasingly looking at global <\/span>markets to expand<\/span><\/p>\n

Indian companies are increasingly looking at global markets to expand with focus on <\/span>regions like South East Asia, Europe, Africa and South America. According to the report in the last 5 <\/span>years, more than 5 global Agritech companies have ventured in India, as compared to more than 25<\/span>
\nIndian Agritech companies with global presence. <\/span>New emerging areas like market linkage, digital agriculture, better access to inputs, FaaS and financing <\/span>are attracting large traction. These technology adoptions are enabling numerous agritech startups to <\/span>bring forth farming-related advanced technological mechanisms to help local farming become a <\/span>sustainable and profit-yielding enterprise.<\/span><\/p>\n

With public private partnerships and government support, several Indian states have established <\/span>progressive Agritech policies. However, certain measures such as setting up of catalytic or micro funds <\/span>(ranging USD 2 to 14 mn ) to spur innovation, offer support in terms of incubation, acceleration, and <\/span>catalytic funding, opening of incubation centres, curriculum changes in agriculture universities, <\/span>building of a transparent data sharing policy, and engaging with start-ups in larger projects, needs to <\/span>be implemented by state governments to further enhance the use of futuristic technologies and <\/span>support the growing Agritech sector in the country.<\/span><\/p>\n

Realizing the vision of make in India, for the world, it is estimated that by 2020 the Agritech sector to <\/span>be at the center-stage of innovation and will lead India’s journey towards overall transformation. <\/span>Therefore, to achieve this goal, it is imperative that the ecosystem needs to focus towards driving<\/span>
\ninnovation, data collaboration, easy working capital and providing digital infrastructure to enable real <\/span>time access to farmers across the country. NASSCOM will continue its drive towards catalysing <\/span>emerging tech start-ups, and work with the ecosystem to build category leaders and support start-ups <\/span>to create not only for India but also scale up and build for the world.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

\u2022 48% Agritech CEOs, believe to have the next Agritech unicorn in the next 3 years. \u2022 B2B emerging key revenue generating segments in the overall Agritech sector; received over 200mn funding in the past 18 months. New Delhi, India, August 19, 2019 : As digitization expands its horizons and permeates into sectors beyond IT […]<\/p>\n","protected":false},"author":1,"featured_media":13090,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[314,4],"tags":[7178,7176,7177],"class_list":{"0":"post-13101","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-startups-stories","8":"category-technology","9":"tag-agritech-in-india-emerging-trends-in-2019","10":"tag-more-than-450-start-ups-in-the-indian-agritech-sector","11":"tag-start-ups-in-the-indian-agritech-sector"},"_links":{"self":[{"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/posts\/13101","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/comments?post=13101"}],"version-history":[{"count":0,"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/posts\/13101\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/media\/13090"}],"wp:attachment":[{"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/media?parent=13101"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/categories?post=13101"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.technologyforyou.org\/wp-json\/wp\/v2\/tags?post=13101"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}