GreenSat Innovation App will offer end-to-end support that extends from precision farming to banking, market linkages, and innovative crop insurance products
Agritech company GreenSat Innovation Labs has signed an MoU with Gramin Vikas Trust (GVT), a rural welfare organisation and IndiaHub e-Governance, an innovation-driven start-up, as a technology partner for Smart FPO (Farmer Producer Organisation) initiative.
Under the initiative, the GreenSat Innovation App will offer end-to-end support that extends from precision farming to banking, market linkages, and innovative crop insurance products. In addition, it will offer direct access to National Commodity and Derivatives Exchange (NCDEX) wherein the latter will offer a commodity trading platform for the bigger FPOs, providing farmers with direct access to the market.
The targeted project size for the first year (2021-22) is 100 FPOs with 500 FPOs planned for each successive year. More than 10,000 farmers have already signed up for the project with an additional 5,00,000 farmers expected to be on-boarded by March 2022.
Speaking about the initiative, Deepak Yadav, Founder, GreenSat Innovation Labs, said, “At GreenSat, our focus has been on utilising the power of technology and data to offer innovative solutions to our farmers. We believe that technology is the game-changer that can revolutionise agriculture, removing bottlenecks that have crippled the sector for decades. This partnership is the result of our determination to offer complete end-to-end solutions for farmers where they can find information, finance, insurance cover, and a market for their products. We are glad that Gramin Vikas Trust (GVT) picked us as their partner for this project with their proven track record in successfully implementing rural welfare projects. IndiaHub shares our passion for utilising technology to bring sustainable solutions for farmers.”
Co-curated by GreenSat Innovation Labs, the initiative is aimed at developing an Atmanirbhar Kisan – Smart FPO model to offer low-cost user-friendly technology to address the four major challenges faced by most farmers today, namely, crop management, gathering funds, ensuring adequate insurance cover, and market linkages for sales. These challenges will be addressed through two of GreenSat’s innovative tech-based solutions, namely, precision farming services and its faceless agri-banker concept.
