- India is referred to as a global agricultural powerhouse owing to its vast agroecological diversity.
- Ernst & Young report estimates that Indian agri-tech startups have an opportunity of $24 billion and the industry is still untapped.
- The government of India has been working towards a holistic approach to sustainable development and has prioritised the Indian agri-tech sector.
- This article gives an overview of this sector and how O4S – a renowned Indian agri-tech startup is revolutionizing agri-tech brands.
A Brief About Indian Agri-Tech Segment -
It is estimated that by November 2050, the global population might reach 9.8 billion. This gives rise to concerns about food security, scarcity of resources, distortions in distribution and access and most importantly, the need to expand agriculture outputs.
There are approximately 1300 Indian agri-tech startups which are actively employing artificial intelligence (AI), machine learning (ML), the internet of things (IoT), and the likewise.
The Indian agricultural industry broadly comprises farming (crops and horticulture) forestry, livestock (milk eggs, meat), and fisheries. India ranks second after China and it accounts for 11.9% of the global agriculture gross value added (GVA) of $3,320.4 billion and contributes 12% of India’s exports.
If we talk about the agribusiness ecosystem and value addition by Indian agri-tech startups, then this entire ecosystem comprises business activities undertaken from farm to form, covering the entire value chain, from the supply of agricultural inputs, production and transportation of agricultural products, and their distribution of final consumers.
But agricultural sector largely remains unorganized and fragmented with multiple levels of intermediaries and middlemen across this value chain. This is where the role of Indian agri-tech startups comes into play.
Agri-tech innovation can tackle certain challenges such as lack of infrastructure, supply chain inefficiencies, and low digital adoption – which have drastically held back the Indian agriculture sector from performing to its full potential.
O4S Solves A Pertaining Problem In Agriculture Industry
O4S is a technology platform revolutionizing how distribution-led businesses engage with their channel partners. Through its cutting-edge solutions and a data-driven approach, O4S empowers businesses to precisely target and incentivize high-performance channel partners, fuelling sales and fostering lasting partnerships.
Still, perplexed about how O4S solves pertaining problems in the Indian agriculture sector? Here’s the answer –
Agri brands (big or small) majorly depend on their channel partners such as distributors, and retailers who help brands maximize their revenue by selling more. On the other hand, channel partners are rewarded for every sale they make. This is coined as channel partner rewards program.
But managing rewards programs traditionally have flaws like, unequal distribution of rewards, time-consuming reward redemption process, rigorous auditing, lot mixing, and unorganized product returns.
The above hurdles can be regularized to a great extent through channel management solution powered by O4S. Digitalizing channel loyalty programs enable brands not only to plan and manage their loyalty programs, but at the same time, they can keep a check on the above activities.
Why O4S Reserved A Spot In Inc42's List of Top Agri-Tech Startups of India -
The fact that the Indian agriculture sector is highly unorganized and fragmented gives a lot of room for start-ups to mark their impressions. O4S is among Inc42’s list of top agri-tech start-ups in India because our solution solves more than one problem, and streamlines more than one activity.
This is how the channel management solution powered by O4S is the only thing that agri-brands need to transform their business significantly –
- Segment channel partners like technicians, retailers, and influencers and customize schemes easily.
- Monitor scheme progress, measure ROI, and the overall impact of loyalty programs on a brand’s ROI.
- An engaging mobile app for channel partners to track performance, targets and earnings.
- QR code authentication-based loyalty programs.
- Channel partners chose direct UPI payments, vouchers, or credit notes as redemption options.
- Brands can publish educational videos, images, catalogues, and marketing infographics on the partner portal app to enhance engagement with their channel partners.
This is how a single solution is able to solve diverse issues pertaining to the Indian agriculture industry.
You can click on this link to view other top agri-tech startups of India recognized by Inc42.
Summing Up -
We are thankful for Inc42 to recognize us as one of the top Indian agri-tech startups. Our hard work and passion towards digitalizing channel partner loyalty programs will continue at the same pace so that we can solve even bigger and unrealized issues across diverse industries.