Agritech is one of the most promising sunrise sectors in India. Over 1,500 startups are digitising India’s least digitised sector which is agriculture.
According to a Kalaari Capital report agritech could hit a market size of $24 billion in four years. Although the sector holds great potential, it is still in its infancy with a penetration of about 1-2 percent.
Early-stage investors Kalaari Capital and Omnivore recently held an event called “Agritech Now and Beyond” to chart a roadmap for this sunrise sector.
On the sidelines of the event, CNBC-TV18's Akhil Vishwanath spoke with Vamshi Krishna Reddy of Kalaari Capital, Mark Kahn of Omnivore and their portfolio startups to discuss the playbook to scale and supercharge growth in the agritech sector.
According to Reddy startups in agritech sector need to focus on building quality products rather than developing full-stack solutions.
"The focus for startups in this sector should be on building quality products rather than solutions. While there are people who are building full-stack solutions across the board, but we are very interested in founders who are trying to build products," Reddy said.
Also, CNBC-TV18's Aishwarya Anand gets the highlights from the Inspire Awards Manak 2022. The Inspire Award is a government scheme that aims to nurture the ideas and innovations of school students and motivate them to pursue science and a career in research.
In the 2022 edition, a total of 60 innovative ideas were identified and rewarded to be extended into complete incubation to support these student entrepreneurs.
Watch video for more.