Hyderabad-based innovation ecosystem player T-Hub, along with BeanStalk Agtech has announced applications to the GRAFT AUS-IND AgTech Market Access Program. Beanstalk AgTech is an innovation agency that tries to engage high growth and emerging tech startups to solve mega challenges in agriculture and food across the Asia-Pacific region.
The intensive two-and-a-half-month Program will benefit 12 startups every year, and is supported by the Australia India Council, Grains Research and Development Corporation, Birchip Cropping Group, FarmLink, and the Telangana and Australian Governments.
Global AgTech startups with disruptive technologies and the potential to address the challenges faced by the Indian and Australian agricultural sector are eligible for the Program. Interested startups can apply online here.
The shortlisted startups will receive virtual coaching and access to information and strategies to approach the Indian and Australian agricultural industry, followed by 10 days of field experience in both markets.
T-Hub will enable Australian entrepreneurs to offer high-quality solutions for the Indian agricultural market. Simultaneously, BeanStalk Agtech will provide the Indian entrepreneurs with access to the Australian market. The collaboration is poised to boost trade relations and knowledge-transfer between the two countries. The takeaways for Program participants are targeted mentoring on business model refinement, pricing, and go-to-market and sales distribution strategies.
As part of the program, startup with benefit from support in product localisation, business model validation for the Indian market and understanding of the local business culture. They will get the opportunity to work on pilot projects through partnerships with corporates and governments, giving them a platform to showcase their products to the right market.
The program also gives access to new customers via Beanstalk and T-Hubâ€™s network along with support from a dedicated mentor and entrepreneur-in-residence throughout the Program. Also, startups will have access to corporate partners, industry leaders, government engagement, demo days, media activities and networking events.
â€śBeanstalk AgTech seeks to scale high-growth AgTech companies, and its partnership with T-Hub will provide the organisation with access to AgTech startups across the world. The new program enables Beanstalk AgTech to identify startups with innovative products and solutions that have the potential to solve challenges for the agricultural sector in India and Australia. For selected Australian startups, T-Hub will bring in corporate leaders as mentors, enabling these organisations to benefit from access to the Indian market and drive business growth,â€ť Ravi Narayan, CEO, T-Hub said.
Startup applicants need to meet the following eligibility criteria to enter the program:
â—Ź Demonstrate breakthrough solutions, technology and innovation for the agricultural sector
â—Ź Offer solutions addressing water use efficiency/irrigation management and soil/fertility management, including soil testing, nutrition, health, waste management and alternative farming systems and income streams for farmers.
â—Ź Establish a product market fit with customers
â—Ź Demonstrate an intent to invest time and resources to enter the Indian market
â—Ź Provide a validated and proven business and distribution model that can be translated to the Indian market
â—Ź Have senior member of the executive team (C-level or Founder) participate in the in-market Program (late-November to mid-December) for a minimum of two weeks
Will Taing, Co-Founder and Director, Beanstalk AgTech, said, â€śThis industry-backed Program recognises the need to tap into innovation talent across the Indian and Australian AgTech sector and the broader startup ecosystem. The focus of this yearâ€™s Program is on building greater climate resilience for the grains industry in both countries. We are excited to partner with T-Hub to reach out to all innovators with proven technologies, who can solve these challenges, and help sure up our future food security.â€ť