CHALLENGES AND OPPORTUNITIES FOR AGRI-TECH STARTUPS IN DEVELOPING ECONOMIES

S.K. BETHI¹, S.S. DESHMUKH²*
¹Senior Software Engineer, T-Mobile, Frisco, Texas, USA
²Assistant Director, National Institute of Agricultural Extension Management (MAANGE), Hyderabad, 500030, Telangana, India
* Corresponding Author : sagdeshmukh@gmail.com

Received : 03-09-2023     Accepted : 28-09-2023     Published : 30-09-2023
Volume : 15     Issue : 9       Pages : 12661 - 12666
Int J Agr Sci 15.9 (2023):12661-12666

Keywords : Agri-tech Startups, Developing Economies, Opportunities, Challenges, Innovations
Conflict of Interest : None declared
Acknowledgements/Funding : Authors are thankful to National Institute of Agricultural Extension Management (MAANGE), Hyderabad, 500030, Telangana, India
Author Contribution : All authors equally contributed

The agrarian sector in developing economies is at the cusp of a technological revolution facilitated by agri-tech startups. This paper delves into the challenges and opportunities these startups encounter, elucidated through a detailed examination of the Indian agri-tech ecosystem. Key challenges identified include technology adoption barriers, funding constraints, regulatory hurdles, infrastructural deficits, skill and capacity building needs, and issues in market access and supply chain integration. On the flip side, the agri-tech domain is ripe with opportunities for innovation, public-private partnerships, access to new markets, promoting sustainable agriculture, and enhancing education and awareness among the farming community. Several Indian agri-tech startups are navigating these challenges while capitalizing on the opportunities, as demonstrated through case studies. A comparative analysis underscores the transformative potential of agri-tech startups in revamping the agricultural landscape of developing economies, whilst highlighting the requisite supportive frameworks to foster their growth. The findings of this review are poised to inform policy, investment, and entrepreneurial initiatives, paving the way for a sustainable and technologically advanced agricultural sector in developing economies. Through a blend of policy support, innovation, and stakeholder collaboration, agri-tech startups can significantly contribute towards achieving food security, economic resilience, and environmental sustainability in the agricultural domain

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