AgroHub

Thought for a better world!

A digital community platform to erase information asymmetry, provide better return to the farmers, simplify supply chain & drive down price.

Use Case

Information asymmetry is an acute problem in all developing nations which particularly plagues the small farmers. Combined with the disadvantage of fragmented farming community, it significantly reduces their bargaining power, robbing them of their deserved return. Farmers also do not know which crops to plant based on market demands and prices. Many tiers of needless middlemen only make the process more sluggish, drive the prices up, cause wastage and adulteration to stop the food from going stale.

Potential

AgroHub will erase information asymmetry, acute in Bangladesh and other developing countries, and make the farmers aware of the market information. The farmers will use the historical and current information to plant and bargain accordingly. And the community formed in the quadrants will provide them with higher bargaining power, which aggregates to higher return. Simplifying the supply chain ensures that food arrives timely to the buyers, reducing wastage, adulteration and most importantly price. Also, our platform will have data on the projected and real time supply of produces from each quadrant. The buyers’ orders will be analyzed using this data and the items will be procured from the cheapest source, lowering the price even further. This will increase accessibility of quality foods.

Business Case

AgroHub, a software platform, will provide market information to member farmers. In turn, farmers provide estimates of quantity and types of food to be produced. Verified buyers are guided to the cheapest food available according to these data while farmers can cash in on the best deals. This will raise the profit margin for farmers by 50% and decrease food price by 30%. We will transport the food to buyers, using existing transportation channel and the cost will be borne by the buyer. The AgroHub farmers community in designed quadrants will be created, maintained and monitored by assigned local agents in collaboration with NGOs and government assigned Agro Officers. 2.5% commission fee is to be paid by both buyers and sellers. This model is highly scalable & can be adapted for any nation

Objectives:

  1. Eliminate Information asymmetry and decrease the gap between buyers and sellers.
  2. Increase the bargaining power of the farmers with market information and forming communities to provide them better return.
  3. Simplify the supply chain to reduce wastage and reduce price of food significantly due to the combination of all the factors.

Team Cornucopia

Dhaka, Bangladesh

Our Team

TEDx - Big Data and Information revolution will be the next big leap in agriculture

https://www.youtube.com/watch?v=kmVB22u0ScU

Matt Waits, '99 agricultural economics, is CEO of SST Software, an industry leader in agricultural information management. He led Stillwater-based SST Software to develop an enterprise-level data-management platform that encompasses essential components for meeting site-specific farm management. That platform, known as agX, is now the underlying infrastructure that manages data and provides information services on more than 80 million acres across 23 countries.

Important apps for agricultural industry. / Published January 10, 2016 by Muhammad Saiyedul Muttaqin

Important apps for agricultural industry.

http://www.croplife.com/editorial/15-best-new-agriculture-apps-worth-downloading-in-2014/

The influx of technology has resulted in a signifant change in the landscape of agricultural industry. These are the few apps that had an impact in the sector in the current years.

Our Product Logo is here! / Published January 10, 2016 by Abrar Bin Darda

Our Product Logo is here!

AgroHub will revolutionize the agricultural industry of Bangladesh by shifting the market power to the farmers where it rightfully belongs. Hence, we wanted to symbolically portray where the real change can and should take place. It also reflects AgroHub's focus to offer protection and help to the farmers.

The importance of bridging information gap. / Published January 10, 2016 by Muhammad Saiyedul Muttaqin

The importance of bridging information gap.

Agriculture is an economic activity in which information plays a very important role as critical information asymmetry exists in transactions between various stakeholders – farmers, traders, government, policy makers and consumers.
Large traders collect the information for themselves from different markets. This is an expensive operation and also leads to increased transaction costs. Due to the concentration of information with the traders, they are in a better bargaining position over the farmers. Thus spatial arbitrage depends upon current information and traders spend a lot of money in gathering this information. But this is not the case with small traders who lack resources to set up their own information networks. This prevents the entry of a number of small traders to the markets. Traders also involve in temporal arbitrage, which entails storing produce for long periods until suitable price can be obtained. But storage costs (maintenance chemicals costs, capital and its depreciation costs) are also quite considerable. So, traders are dependent on information from the past to assess the viability of storage and its associated risks. This results in less than optimum decision making by the farmers.

Our Team Logo! / Published January 10, 2016 by Abrar Bin Darda

Our Team Logo!

Cornucopia or Horn of Plenty is a symbol of abundance and nourishment. We thought it would be an apt name for our team as we believe our idea would revolutionize the agricultural industry, making food plenty and available for everyone.

Our Mission

We believe that any considerable changes should begin at the root. To cure hunger we have to start with the farmer. Majority of the farmers in Bangladesh are exploited due to Information Assymetry. We want to eliminate this with the help of technology and ensure that the farmers get better returns and the consumers get better quality food at a much cheaper price. We want to shift the balance of power to the farmers.

Our Background

Team Cornucopia is composed of visionary changemakers who wants to reform the existing system for a better Bangladesh and a better world. We are from the Institute of Business Administration, University of Dhaka and we are eager to make our mark in the world.

TEDx - Big Data and Information revolution will be the next big leap in agriculture

https://www.youtube.com/watch?v=kmVB22u0ScU

Matt Waits, '99 agricultural economics, is CEO of SST Software, an industry leader in agricultural information management. He led Stillwater-based SST Software to develop an enterprise-level data-management platform that encompasses essential components for meeting site-specific farm management. That platform, known as agX, is now the underlying infrastructure that manages data and provides information services on more than 80 million acres across 23 countries.

Important apps for agricultural industry. / Published January 10, 2016 by Muhammad Saiyedul Muttaqin

Important apps for agricultural industry.

http://www.croplife.com/editorial/15-best-new-agriculture-apps-worth-downloading-in-2014/

The influx of technology has resulted in a signifant change in the landscape of agricultural industry. These are the few apps that had an impact in the sector in the current years.

Our Product Logo is here! / Published January 10, 2016 by Abrar Bin Darda

Our Product Logo is here!

AgroHub will revolutionize the agricultural industry of Bangladesh by shifting the market power to the farmers where it rightfully belongs. Hence, we wanted to symbolically portray where the real change can and should take place. It also reflects AgroHub's focus to offer protection and help to the farmers.

The importance of bridging information gap. / Published January 10, 2016 by Muhammad Saiyedul Muttaqin

The importance of bridging information gap.

Agriculture is an economic activity in which information plays a very important role as critical information asymmetry exists in transactions between various stakeholders – farmers, traders, government, policy makers and consumers.
Large traders collect the information for themselves from different markets. This is an expensive operation and also leads to increased transaction costs. Due to the concentration of information with the traders, they are in a better bargaining position over the farmers. Thus spatial arbitrage depends upon current information and traders spend a lot of money in gathering this information. But this is not the case with small traders who lack resources to set up their own information networks. This prevents the entry of a number of small traders to the markets. Traders also involve in temporal arbitrage, which entails storing produce for long periods until suitable price can be obtained. But storage costs (maintenance chemicals costs, capital and its depreciation costs) are also quite considerable. So, traders are dependent on information from the past to assess the viability of storage and its associated risks. This results in less than optimum decision making by the farmers.

Our Team Logo! / Published January 10, 2016 by Abrar Bin Darda

Our Team Logo!

Cornucopia or Horn of Plenty is a symbol of abundance and nourishment. We thought it would be an apt name for our team as we believe our idea would revolutionize the agricultural industry, making food plenty and available for everyone.

Our Team

Our Mission

We believe that any considerable changes should begin at the root. To cure hunger we have to start with the farmer. Majority of the farmers in Bangladesh are ...Read More

Our Background

Team Cornucopia is composed of visionary changemakers who wants to reform the existing system for a better Bangladesh and a better world. We are from the Institute of ...Read More

The information contained here represents student project ideas developed as the result of brainstorming activities during Round 1 of the TFF Challenge. It does not represent any final business plans or commercial products.