TEAM: MIMY1 5
AGROTECH INNOVATORS
AI-POWERED SOLUTIONS FOR SUSTAINABLE AGRICULTURE
Executive Summary
The global population is excepted to grow 9 million for 2050. According the World Bank, we need to increase the food production as soon as possible, by 70% (Uadmin, 2023). There are several problems in todays agriculture such as the climate change impact on the crop yield or the limited access to advanced technology for small scale farmers. Therefore, the level of ineficiency is high and there is a clear waste of time and money. The objective of our solution is to help small scale farmers to have a more effective way to perform at their best capabilities. We aim to create a user-friendly method, utilizing sensor network and recent technology for small scale farmers to understand and apply on a daily basis.
Our company aims to develop an Al platform that provides precision farming solutions to help small farmers increase efficiency, yields, and profitability while reducing environmental impact. The market opportunity lies in enhancing crop production through Al technology, offering cost and risk reduction, and improving product quality for the estimated 1.8 million farms that could benefit from our tech website and services. Precision farming practices can reduce carbon footprint by 20-30% and improve soil health and biodiversity by 30-40%, according to cited sources. Additionally, precision irrigation can reduce water usage by up to 60% while maintaining crop yields, and crop diversity can cut pesticide use by 32% while boosting profits by 22%.
The business model involves offering a tiered subscription service, from free basic level to premium enterprise levels, catering to individual and organizational needs. Value-based pricing aligns with the significant savings the platform provides users. Key partnerships with industry and research entities will enhance capabilities and reach. Risk factors include ensuring technology affordability for smallholder farmers, addressing data privacy and security concerns, and mitigating over-reliance leading to system errors or inaccurate data impacting income.
Financial projections forecast funding needs around $1.5 million for the first year, covering website/app development, marketing, salaries, office space, registration fees, equipment, and miscellaneous expenses.
The execution plan focuses on team formation, investigation, technology development, platform testing, training farmers, data collection/ evaluation, market promotion, product improvement, creating partnerships, and continuous monitoring/supervision. Our long-term vision goes far beyond providing an Al platform for precision farming. Our purpose is to foster a sustainable ecosystem that supports smallholder farmers around the globe empowering them with the tools and knowledge to maximize yields, reduce environmental impact, and increase profitability. Using collaborative partnerships with agricultural organizations, research institutions, and government bodies, we strive to drive widespread adoption of sustainable farming practices. Ultimately, our goal is to contribute to global food security while promoting environmental protection and improving the livelihoods of farming communities worldwide.
