Start ups is an emerging trend and many millennials (Gen Y) are jumping into the wagon. Today’s youth are ready to take strides into new forays and agriculture sector is also getting attention as a business proposition for the start ups. To some extent, there is need to create more unique, better paying jobs and offer consumers an unique experience, and start ups are spurning up at an incredible pace to address the need.
No brainer, agriculture is also attracting young generation to start new innovative industries surrounding the field of agriculture. Urban youth are seeing value in starting ventures like rural tourism, adventure agriculture, urban agriculture, farm insurance, warehousing and cold storage, buyback guarantees, kitchen gardens, customized seed industry, horticultural plant business, e-agriculture market place, linked commodity market, rural finance and payment systems, biotechnology related agricultural products and rural artisan based works. Thus, increasing the participation of larger audience spread across the world. Such start ups bring not only new businesses and customers, but also at the same time advertise growth potential and untapped aspects of agriculture. Though contribution of agriculture in the national GDP is shrinking over the years, still about 50% of the population depends on farming. Therefore, start ups venturing in agriculture arena are a boon in increasing value proposition in agriculture besides bringing in more employment opportunities among urban and rural population.
The Union Government website, http://startupindia.gov.in/, shows that there are more than 3389 start up hubs and 67 have been funded. Nasscom predicts there will be more than 10,500 start up in India by 2020. One of the interesting facets, I see that start-ups in this sector are not only increasing but also are remaining viable. Farmers will be able to take advantage of mobile internet technologies, telecommunication networks and logistics to sell their products at a higher price, thus increasing farm income, which is also the aim of the Union Government and starts-ups are helping them to realize the same.
By Dr. Anjanabha Bhattacharya, Scientist, Mahyco