THIRUVANANTHAPURAM: The state’s startup sector will soon undergo a significant transition, with more agritech startups set to gain prominence for their value-added products. To establish a connection between agritech startups and farmers to ensure cutting-edge products and solutions play a critical role in agricultural development, the Kerala Startup Mission (KSUM) and the National Bank for Agriculture and Rural Development (NABARD) have already offered their support.
As the use of technology in agriculture has risen over the past few years, agritech businesses have attracted sizable investments. Agritech refers to the concept of incorporating cutting-edge technologies into the agricultural sector to boost productivity, efficiency and profit.
The concept includes all initiatives, practices, products and services that advance any step in the agricultural production process. Agritech has the potential to address a range of issues plaguing the sector, and as a result, transform Indian agriculture. While the state currently has around 200 agritech startups, the increased need for agricultural technologies is set to double the number of startups in the coming years.
KSUM Chief Executive Officer Anoop P Ambika told TNIE that many investors are keen on funding agritech startups as they are more interested in agriculture. “KSUM’s main focus is agriculture. Many programmes are on the anvil to support such startups. They are in a growth stage as food has now become a precious commodity,” he said.
According to Ashok Kurian Panjikaran, business development and incubation head at KSUM, various organisations are supporting these startups and devising several programmes.
“We will provide a cushioned support system to agrotech startups. Recently, we conducted a demo day event with NABARD with the participation of many investors. It has received a great response, and many startups have benefited. We will keep supporting them as long as KSUM prioritises agritech startups. Additionally, people should be aware that startups include more industries than just IT and related services,” he said.
A majority of the state’s agritech startups operate in the market sector, where e-commerce businesses offer fresh and organic fruits and vegetables bought directly from farmers.