Currently, Industry 4.0 promising a variety of smart technologies to develop various industries in various fields. One of the industries that have great potential is the agricultural industry. The proof is the various companies in the form of agriculture startup i.e. Agritech that emerged and innovate to solve the problems of agriculture, both from cultivating crops to the distribution.
Agritech startup is not just limited to one business model and technology only. Various implementation of technological innovation such as the use of Artificial Intelligence (AI), Internet of Things (IoT), Big Data, Data Analytics, Predictive Learning, Deep Learning, and more.
Despite the many smart technologies that offer solutions, agriculture in different parts of the world has the same problem. Climate, pests, and lack of farmers’ capital may be a barrier to the development of this industry. Thanks to funding from various sources, problem-solving with technological solutions in predicting climate, preventing pests, and agricultural research can make the agricultural industry value continue to rise.
In India alone, investors donate about $ 20 million because they feel the potential in the agricultural sector is very high, especially agritech with its smart technologies. In the future, it is undeniable that agritech startup will lead by putting forward the mindset of smart entrepreneurship.
With enormous potential for VCs to help startup agritech in Southeast Asia, countries that have an agricultural industry as a benchmark for economic development can get an opportunity to prove to the world that innovation can start from the agricultural industry with smart technologies implementation.