Vijay Nadiminti, CEO of Aghub, (PJTSAU) at Hyderabad shared his insights and forward thinking in the agricultural sector in an interview with MyStartUp Life, where he emphasised the importance of integrating innovative solutions to reshape and enhance India’s agrarian framework.
Q1: Can you provide an overview of your journey in agribusiness and innovation in agriculture?
My journey began with my graduation in horticulture, and evolved as I chose to enter the agri-business space. I worked with India’s first private wholesale market for fruit and vegetables. I have promoted innovation and startup growth in the agricultural sector, built incubators, and fostered startup ecosystems.
Q2: Can you describe the vision and mission of AgHub
AgHub aims to be a world-class incubator promoting innovations with local change and global impact. The mission is to nurture early-stage startups through knowledge networks, funding, mentoring, and investment access.
Q3: What challenges do agri-tech startups face in India?
Agri-tech startups aiming to solve issues in a sector that sustains over 60% of India’s population face challenges such as a lack of understanding of the agricultural sector, creating unique business models, understanding the existing research ecosystem, and creating solutions that fix the problems accurately. They also need help with gaining access to the ecosystem, funding, demonstrating technology potential, and creating meaningful business models where farmers are willing to adopt these solutions.
Q4: How are you addressing the challenges faced by agri-tech startups?
We assist startups by providing access to R&D and scientific expertise, facilitating collaborations between startups and scientists, validating technologies, aiding in talent acquisition, and providing early-stage funding. We’ve introduced programs like the agri-tech market access program to help startups connect with the community of farmers and peers, and we also support them with policy and regulation support along with scientific and mentorship expertise available within our network.
Q5: Market research and understanding of commodities markets is important in your role, and how do you facilitate this?
Market research is crucial for technology startups working in different areas of agri-tech. We engage our expertise and networks to conduct market research for these startups. Understanding commodity markets is pivotal for startups working in market linkages and dealing with agro commodities. We provide them access to databases and connect them with commodity market experts on a case-to-case basis to ensure they have the necessary information.
Q6: Can you provide insights into AgHub contribution to promoting student entrepreneurship and fostering innovations in the rural sector?
We are promoting student entrepreneurship through various design-thinking programs, fostering the development of ideas, and establishing student enterprises. Additionally, we have been focusing on creating impact-focused rural enterprises in food and agriculture led by rural youth, rural women farmers, grassroots innovators, and other rural stakeholders, establishing rural innovation hubs to promote rural enterprises.
Q7: How does AgHub help in fostering innovations and aiding startups in terms of technology development, market access, funding, policy, and regulation support?
AgHub helps startups by enabling access to R&D and scientific expertise and facilitating collaborations between startups and scientists for product development. We validate technologies through innovation pilots and support startups with talent acquisition from our network of technology scientists and agricultural graduates. We also offer early-stage funding through different programs and facilitate market access for startups to connect with farmers and peers, providing necessary policy and regulation support and mentorship expertise.
Q8: How should startups in the agricultural sector balance innovation with traditional practices?
Startups should balance innovation with traditional practices by ensuring the innovations are unique and have a value proposition, easily integrating with existing agricultural processes. They need to understand the complexity and the magnitude of the problems in the sector. Solutions must consider local cultural practices, scientific practices propagated by the scientific community, and the aspirations of the farming community.
Q9: How does a farmer’s approach differ from that of a scientist when assessing a technology?
A farmer assesses technology based on its usability, maintenance, affordability, and practical application, focusing on how much it is useful and applicable in their daily practices. In contrast, a scientist evaluates the technical requirements and applicability of the technology across different crops, assessing its benefits in agricultural and horticultural crops from a technical perspective.
Q10: Could you share the key learnings from your progress from a management trainee to a CEO?
The key learnings include diversifying career paths and promoting new-age agribusinesses, being consistent and persistent in working with emerging sectors and dealing with uncertainty, working with diverse and cross-functional teams in various sectors, and experimenting with new initiatives and adventures in agribusiness.
Q11: What advice would you give budding entrepreneurs in the Agri-business space?
Budding entrepreneurs should welcome innovators to the sector, understand the complexities of problems in agriculture, and create pinpointed solutions that are a proper fit. Patience, associating with the ecosystem, understanding regulatory frameworks, and knowing the financial potential of raising funds are crucial. Focusing on solving the issues of the farming community and creating sustainable solutions is imperative for long-term success.
Q12: How do you envision the future of agriculture in India in terms of technology and sustainability?
The future of agriculture in India should focus on both short-term agritech opportunities and mid to long-term options related to climate and sustainability. Startups should diversify their innovation portfolio to include allied sectors like fisheries, animal husbandry, dairy, and poultry. A balance of startups should work on agricultural issues and those focusing on sustainability tech and climate to tackle climatic problems and ensure the well-being of the agricultural ecosystem.
Vijay Nadiminti, serves as the CEO of AgHub, an initiative under Professor Jayashankar Telangana State Agricultural University (PJTSAU), Hyderabad, India. Vijay has a Bachelor’s degree in Horticulture and an MBA in Business from the National Institute of Agricultural Marketing. He was the Chief Operations Officer at a-IDEA Technology Business Incubator and several managerial positions at Premium Farm Fresh Produce Ltd. His expertise includes market research, strategic sourcing, and retail, focusing on agriculture. He is passionate about introducing sustainable and revolutionary agricultural methods and has substantially propelled agricultural advancements.
He can be reached over email – ceo@ag-hub.co
