2024 Global Economic Prosperity Challenge
SenzAgro Connect : A Digital AVC platform for Sri Lankan Regenerative farmers.
What is the name of your solution?
SenzAgro Connect : A Digital AVC platform for Sri Lankan Regenerative farmers.
Provide a one-line summary of your solution.
Empowering Regenerative Farmers and SME in Northern Sri Lanka, by introducing a data driven Digital Agriculture Value Chain platform.
In what city, town, or region is your solution team headquartered?
Colombo, Sri LankaIn what country is your solution team headquartered?
What type of organization is your solution team?
For-profit, including B-Corp or similar models
Film your elevator pitch.
What specific problem are you solving?
Sri Lanka's rural communities face a crisis, with agriculture, the lifeblood for countless families, under immense pressure. An estimated 80% of Sri Lanka's rural population, roughly 7 million people, depend on agriculture for their livelihoods. However, this vital sector is struggling due to a confluence of global and local factors.
As per the rapid food security assessment carried out by UN-ILO and SenzAgro in 2022, we have identified four major problems in the current conventional agriculture velue chain, that are, Global Threat of Climate Change, Local Economic Strain,A Broken Value Chain and Empowering for a Brighter Future.
The Global Threat of Climate Change:
Sri Lanka ranked second in the world for climate vulnerability . This translates to erratic rainfall patterns, with some regions experiencing a 40% decline in paddy production during extreme droughts. These fluctuations disrupt traditional agricultural practices and threaten food security for millions. Furthermore, a 2014 study highlighted the challenge of significant pesticide residues in agricultural water sources, raising concerns about long-term environmental health and potential harm to consumers.
Local Economic Strain:
The recent economic crisis has exacerbated existing challenges. The cost of essential inputs like fertilizer has skyrocketed, putting a strain on household finances and hindering investment in new technologies. The World Bank reports that only 12% of Sri Lanka's agricultural land utilizes climate-resilient practices, highlighting the need for wider adoption but limited by economic constraints. These challenges also contribute to pest and disease outbreaks, further jeopardizing crop yields.
A Broken Value Chain:
The current agricultural value chain adds another layer of difficulty. A disconnect between farmers and key stakeholders like buyers and distributors leads to inefficient processes and unfair pricing structures. Smallholder farmers, lacking access to transportation, packaging, and market knowledge, are often exploited by intermediaries. Studies suggest that these inefficiencies can lead to farmers receiving as little as 20% of the final consumer price for their produce. This lack of transparency can lead to significant income losses for these vulnerable communities.
Empowering for a Brighter Future:
This project aims to address these critical issues and empower vulnerable farmers to build resilience. Our solution focuses on several key areas that directly relate to the problems identified. By implementing these strategies, we hope to achieve the following:
Increased Productivity: Studies show that climate-smart practices can improve yields by 20-30%, while access to high-quality seeds can lead to a 10-15% increase.
Fairer Prices: Connecting farmers directly with buyers can increase their share of the consumer price to 50-60%, significantly improving their income.
- Enhanced Food Security: Increased productivity and fairer prices will lead to greater food security for both farming communities and the nation as a whole.
Empowering Sri Lankan farmers can have a broader impact beyond the country. A successful pilot in Sri Lanka could scale up to benefit 2 billion people across South Asia. By creating a sustainable agriculture model, the project can inspire solutions for vulnerable communities worldwide, improving food security and economic stability amid climate change and economic challenges.
What is your solution?
SenzAgro Connect aims to empower farmers, promote sustainability, and revitalize agriculture in Sri Lanka's Northern Province by introducing a Digital Agriculture Value Chain platform. The focus is on three key goals:
1. Improved Farmer Livelihoods: Enhancing income and market access.
2. Sustainable Practices: Encouraging regenerative agriculture.
3. Efficient Distribution Networks: Minimizing transportation losses.
SenzAgro Connect is a visionary pilot project that will directly benefit 3,000 young smallholder farming families and 200 agriculture MSMEs in Sri Lanka's war-affected Northern Province. It is estimated to reach over 50,000 indirect beneficiaries within two years.
SenzAgro Connect takes a multi-faceted approach to address each challenge directly:
Climate-Smart Agriculture Training: The project will build capacity for smallholder farmers to take part in a digital agriculture value chain. The training programs will include practices such as water-efficient irrigation, drought-resistant crops, sustainable soil management, cost-effective agricultural methods, and integrated pest, water, and land management practices. This will empower farmers to adapt to changing weather patterns and reduce reliance on unpredictable rainfall.
Digital Agriculture Value Chain Platforms: The online platform, SenzAgro Connect, will match Farmer Producer Organizations (FPOs) and individual farmers with buyers' demand and vice versa. By creating micro-clusters within a 20 km radius, the short distance from the farm to the supply chain will eliminate exploitative middlemen. Farmers will gain access to market information, fair pricing, and reduced post-harvest losses through mobile apps or online marketplaces, leveraging existing internet connectivity in Sri Lanka.
Financial Literacy Training: The project will provide farmers with financial management skills to make informed decisions about resource allocation and budgeting. Training will include guidance on accessing microloans for investments in climate-resilient technologies.
Beyond the smallholder farmers, SMEs in agriculture will benefit from streamlined communication and coordination, reduced costs, improved market access, and better decision-making. Consumers will gain access to safe, sustainably produced food, and the environment will benefit from reduced climate impact.
This innovative project design surpasses existing solutions in Sri Lanka by eliminating middlemen, empowering fair trade, promoting sustainability, leveraging mobile technology, facilitating data-driven decisions, ensuring financial inclusion, and addressing the unique challenges of the Northern Province.
This mobile app empowers farmers, promotes sustainability, and establishes a more efficient and transparent agricultural ecosystem. By promoting eco-friendly methods, farmers access a premium market. SMEs benefit from a reliable sourcing network, demand forecasting, and efficient resource management through an ERP system. By addressing these critical areas, SenzAgro Connect tackles both national inefficiencies and regional challenges in the Sri Lankan agricultural sector, positioning itself as a leader in driving sustainable agricultural development in the Northern Province.
To ensure the financial sustainability of SenzAgro Connect, a transaction fee model is implemented, with SMEs sharing 1%. This aligns incentives, creating a self-sustaining ecosystem while fostering resilience and scalability.
Who does your solution serve, and in what ways will the solution impact their lives?
SenzAgro Connect initially targeted 3,000 young smallholder farming households and 200 agriculture SMEs in Sri Lanka's war-affected Northern Province. These farmers, predominantly young and living in rural areas, depend on agriculture as their primary source of income. Their work is essential for local food security, yet they face significant obstacles that hinder their success.
Challenges in the Supply Chain:
Limited Knowledge and Resources: Farmers lack access to training in modern, sustainable agricultural practices, market information, and financial resources.
Exploitative Middlemen: The current value chain is inefficient, with middlemen taking a significant portion of profits, leaving farmers with unfair prices.
Climate Vulnerability: Unpredictable weather patterns and water scarcity threaten crop yields and livelihoods in the region.
The primary measurable benefits include about 3,000 direct and 30,000 indirect beneficiaries who will gain from an improved and efficient agricultural value chain, resilient agriculture practices, provision of climate and weather information, and fair financial benefits for both farmers and SMEs. The project aims to expand to 50,000+ farming families and 1,000+ SMEs over two years, ultimately benefiting 500,000 indirectly in the long term.
Addressing the Needs Through Digital Innovation:
SenzAgro Connect uses an innovative mobile app and focuses on digital solutions to empower farmers and SMEs, promote sustainability, and establish a more efficient and transparent agricultural ecosystem. This approach addresses both national and regional challenges in the Sri Lankan agricultural sector, positioning the project as a leader in driving sustainable agricultural development in the Northern Province.
The proposed solution enhances the conventional agriculture value chain by:
Empowerment Through Training: Offering training programs in regenerative agriculture, climate-smart practices, and financial literacy.
Fairer Market Access: Connecting farmers directly with buyers through the platform, eliminating exploitative middlemen and ensuring fair pricing.
Data-Driven Decision Making: Providing IoT-enabled weather and soil data to help farmers make informed decisions about planting, irrigation, and resource management.
Efficient Distribution Networks: Minimizing transportation losses through a more efficient distribution network.
Outcomes and Impact:
Environmental Impact: Implementing climate-smart agricultural practices is expected to reduce greenhouse gas emissions (GHG) by 3.25 million tons.
Economic Benefits: The project will directly improve the livelihoods of 30,000 beneficiaries by increasing household incomes.
Increased Efficiency: The project aims for a 15% yield increase, improved water use efficiency by 5-10%, and energy savings of 20% for 50 agribusiness units. It will also reduce post-harvest losses by 10%.
Improved Infrastructure: Investments will be made in climate-proof infrastructure to ensure more sustainable access to markets.
Empowerment: Training programs will equip both men and women with knowledge of climate information services and climate-smart agricultural practices throughout the agricultural value chain.
Financial Sustainability:
SenzAgro Connect utilizes a transaction fee model (1% from SMEs) to ensure long-term financial stability. This model aligns incentives, fostering a self-sustaining ecosystem for farmers, SMEs, and the platform itself.
How are you and your team well-positioned to deliver this solution?
We are a team of new-generation farmers, innovative engineers, and award-winning entrepreneurs with a proven track record. Our team has deep empathy for the farming community. SenzAgro is supported by an experienced advisory board with over 100 years of expertise in banking, the agriculture value chain, and modern agriculture. We bring expertise, experience, and a commitment to empowering Sri Lankan farmers and promoting sustainable agriculture.
- Local Knowledge and Presence: SenzAgro leverages its local knowledge as a leading agricultural solutions provider in Sri Lanka. With extensive experience in household data collection, our team understands the country's agricultural landscape and the challenges faced by smallholder farmers. We adapt data collection to diverse environments and collaborate with both international and national researchers. Strong partnerships with local farmer groups, government agencies, and international organizations provide us with resources, networks, and expertise to support project success and enable sustainable solutions for the agricultural sector.
Technical Expertise: The team has a strong foundation in agricultural science, technology, and data analytics. This expertise enables us to design and implement advanced digital solutions, such as the Digital Agriculture Value Chain platform, to address specific challenges in the sector.
- Experience in Climate-Smart Agriculture: SenzAgro's team has experience in climate-smart agriculture practices, including water-efficient irrigation, sustainable soil management, and integrated pest and land management. This knowledge is crucial for training farmers and improving agricultural practices.
Proven Track Record: We have a history of successful projects in similar domains, demonstrating our ability to execute complex initiatives and achieve tangible results. This experience builds confidence in our capability to manage and deliver the proposed solution effectively. The team's familiarity with the region's social, economic, and environmental context allows us to tailor our approach effectively.
SenzAgro's Expertise in Action:
Since 2018, we've empowered over 10,000 smallholder farmers in 6 countries and automated over 400 farms into smart high-tech farms.
Collaborated with USAID and Tetra Tech in 2023-24 to train farmers on precision agriculture technology.
Collaborated with World Vision Sri Lanka on a project for Building Resilience and Strengthening Community Disaster Preparedness in Sri Lanka 2024-25.
Partnered with GIZ in 2019 to implement climate-smart irrigation systems for vanilla growers.
Provided digital farming training to young entrepreneurs with the World Food Programme in 2023.
Integrated smallholder farmers into a digital agriculture platform with DevPro and Oxfam in 2022-23.
Provided precision agriculture technologies to agribusinesses with MDF and AusAid in 2022-23.
Collaborated with the ILO and LEED+ Project in 2021 to assess the ICT ecosystem in Sri Lanka's Northern Province.
5. Innovative Approach: SenzAgro leverages digital tools (mobile apps, online platforms) for efficient and transparent agriculture. Our focus on existing infrastructure empowers farmers and improves market access, while our transaction fee model ensures financial sustainability and aligns incentives for a self-sustaining system.
Which dimension of the Challenge does your solution most closely address?
Generate new economic opportunities and buffer against economic shocks for workers, including good job creation, workforce development, and inclusive and attainable asset ownership.Which of the UN Sustainable Development Goals does your solution address?
What is your solution’s stage of development?
PilotWhy are you applying to Solve?
Firstly, MIT Solve offers more than just funding; it presents an opportunity to showcase our local achievements and impact on a global scale as part of a prestigious institution like MIT. With MIT Solve's support, SenzAgro will be able to empower more Sri Lankan farmers and SMEs, nurturing a thriving and sustainable agricultural sector.
SenzAgro has a strong track record of securing private and grant funding for impactful projects, and for this proposed project, we have already secured about 50% of the required funding.
We believe that the combination of recognition, global-standard mentorship, and comprehensive resources provided by MIT Solve creates a powerful synergy. This combination will enable SenzAgro to not only meet its immediate goals but also build a sustainable and impactful organization with a solid foundation for long-term success.
In addition to funding, networking opportunities will provide us with access to personalized coaching, helping our leaders refine their strategies and navigate the challenges of growth. Connecting with a network of accomplished peers will offer invaluable support, inspiration, and guidance as we scale our project. This trusted network will act as a sounding board for ideas and foster a sense of community within the social impact ecosystem.
In which of the following areas do you most need partners or support?
Who is the Team Lead for your solution?
Miller Alexander Rajendran , CEO, SenzAgro.
What makes your solution innovative?
By tackling critical national inefficiencies and unique regional challenges, SenzAgro positions itself as a leader in driving sustainable agricultural development in Sri Lanka's Northern Province. This innovative mobile app empowers farmers, promotes sustainability, and establishes a more efficient and transparent agricultural ecosystem, paving the way for a brighter future for the region.
Innovation Focused on Impact
SenzAgro's approach to empowering Sri Lankan farmers in the Northern Province goes beyond incremental improvements. It leverages existing technologies in a fresh and impactful way:
Disrupting the Status Quo: Unlike traditional models with exploitative middlemen, SenzAgro connects farmers directly with buyers, promoting fair trade and ensuring they receive a larger share of the profits.
Data-Driven Decisions: By leveraging mobile technology and IoT sensors, SenzAgro equips farmers with real-time data on weather and soil conditions. This empowers them to make informed choices about resource management and agricultural practices, leading to improved yields and climate resilience.
Focus on a Specific Challenge: SenzAgro tailors its approach to the unique needs of the war-affected Northern Province, addressing social, economic, and environmental issues specific to the region.
Broader Positive Impacts:
The success of SenzAgro has the potential to inspire a wave of positive change:
Market Transformation: By eliminating middlemen and creating a more transparent and efficient value chain, SenzAgro can become a model for the broader Sri Lankan agricultural sector.
Sustainable Practices: The project's emphasis on regenerative agriculture and climate-smart methods can encourage widespread adoption of these practices, leading to a more sustainable agricultural landscape.
Replication Potential: The financially sustainable model and focus on local needs make SenzAgro's approach adaptable to other developing countries facing similar challenges.
Describe in simple terms how and why you expect your solution to have an impact on the problem.
SenzAgro Connect: Empowering Farmers, Transforming Agriculture (Theory of Change)
Problem: Smallholder farmers in Sri Lanka's Northern Province face limited knowledge, resources, and unfair market access, leading to low-income and unsustainable practices.
Target Population: 3,000 young smallholder farming families (with the potential to reach 50,000+ indirectly).
Input:
Financial: Grant funding from MIT Solve and potential co-funding.
Human: Experienced staff with expertise in agriculture, technology, and training.
Material: Mobile devices for farmers and staff, weather stations, and training materials.
Information: Data on local soil conditions, market prices, and best practices in sustainable agriculture.
Activity:
Mobile App Development: Develop a user-friendly mobile app in the local language.
Farmer Training Programs: Conduct training workshops on climate-smart agriculture, financial literacy, and mobile app usage.
Market Access Facilitation: Establish partnerships with buyers to connect farmers directly to the market, eliminating exploitative middlemen.
Data Collection & Sharing: Install weather stations and provide farmers with real-time data on weather and soil conditions.
Financial Sustainability Model: Implement a transaction fee model to cover operational costs and ensure long-term project sustainability.
Output:
Mobile App Launched: A user-friendly mobile app accessible to farmers.
Farmers Trained: Increased number of farmers with knowledge in sustainable practices, financial management, and app usage.
Direct Market Link Established: Partnerships forged with buyers, creating a direct market channel for farmers.
Weather & Soil Data Available: Real-time data accessible to farmers through the app and training sessions.
Financially Sustainable Platform: Transaction fee model in place to support long-term operations.
Immediate Outcome:
Increased Knowledge & Skills: Farmers gain new knowledge in sustainable agriculture, financial management, and using the mobile app.
Improved Market Access: Farmers connect directly with buyers, receiving fairer prices for their produce.
Enhanced Decision Making: Farmers utilize real-time data to make informed choices about resource management.
Increased Financial Literacy: Farmers develop better skills in managing their finances.
Intermediate Outcome:
Adoption of Sustainable Practices: Trained farmers implement climate-smart methods that improve soil health and resource efficiency.
Increased Farm Productivity: Improved practices lead to higher yields and improved food security.
Greater Financial Security: Fairer market access and financial management skills lead to increased income and financial stability for farmers.
Ultimate or Final Outcome:
Thriving Agricultural Sector: A more efficient and transparent agricultural value chain benefits both farmers and consumers.
Enhanced Food Security: Increased agricultural productivity contributes to improved food security in the region.
Sustainable Agricultural Practices: Widespread adoption of sustainable methods leads to a healthier environment and increased resilience to climate change.
Empowered Farming Communities: Improved livelihoods and economic empowerment for farming families in the Northern Province.
Why It Works:
Empowering Farmers: Training and knowledge sharing equip farmers with the skills they need to succeed.
Fairer Markets: Eliminating middlemen increases profits for farmers and incentivizes sustainable practices.
Data-Driven Decisions: Real-time data empowers farmers to optimize resource use and improve yields.
Financial Sustainability: The transaction fee model ensures long-term support for the platform and services.
Scalability: The project's core components can be adapted to benefit other regions and countries.
What are your impact goals for your solution and how are you measuring your progress towards them?
Impact Goals
SenzAgro's solution is designed to empower farmers, promote sustainable agricultural practices, and enhance livelihoods in the Northern Province of Sri Lanka. The key impact goals include:
Improved Farmer Income: By connecting farmers directly with buyers and promoting fair trade, SenzAgro aims to increase farmers' income by 60 times, ensuring they receive a larger share of profits.
Enhanced Food Security: Through data-driven decisions and climate-smart agriculture, the solution aims to improve crop yields by 15%, contributing to greater food security in the region.
Sustainable Agricultural Practices: SenzAgro promotes regenerative agriculture and efficient resource management, aiming to foster a more sustainable agricultural landscape with 25% savings in water, land, and greenhouse gas emissions.
Empowered Women Farmers: By focusing on supporting women farmers, SenzAgro seeks to enhance their participation in the agricultural value chain and improve their economic status.
Reduced Food Waste: By streamlining the value chain and reducing reliance on middlemen, SenzAgro aims to decrease food waste by 50% in the last mile due to shorter transportation distances and fewer intermediaries.
Strengthened Climate Resilience: By providing farmers with real-time data and early warning systems, SenzAgro aims to help farmers adapt to climate change and minimize risks.
Measuring Progress
To measure progress towards these impact goals, SenzAgro can use the following key performance indicators (KPIs):
Income Growth: Track the increase in farmers' income levels over time, aiming for a 60x leverage ratio. Transactions between farmers and small to medium-sized enterprises (SMEs) are tracked on the SenzAgro Connect platform, along with farmers' yield records and bookkeeping practices.
Yield Improvements: Monitor crop yields to assess the impact of climate-smart agriculture and data-driven decision-making, targeting a 15% improvement. Farmers’ estimated yield records are updated by either the farmers or dedicated cluster field officers on the SenzAgro Connect platform.
Sustainable Practices Adoption: Measure the uptake of regenerative agriculture and efficient resource management practices, aiming for 25% savings in water, land, and greenhouse gas emissions. Field officers evaluate biodiversity improvements, water contamination reduction, and soil health using geotagged digital evidence.
Participation of Women Farmers: Track the number of women farmers involved in the program and their economic outcomes. Detailed farmer demographic profiles are updated by SenzAgro field officers, and the project prioritizes at least 50% of the beneficiaries to be women.
Food Waste Reduction: Monitor reductions in food waste, aiming for a 50% decrease in the last mile due to value chain improvements and shorter transportation routes. The system prioritizes connecting SMEs and buyers closest to the farmers.
Climate Resilience: Assess farmers' ability to adapt to climate-related challenges by tracking their usage of early warning systems and real-time data. Weekly weather forecasts and crop-specific advice are broadcast to farmers via SMS, and the logs are accessible on the platform.
Regular reporting and evaluation will help ensure progress toward the impact goals and identify areas for further improvement.
Describe the core technology that powers your solution.
SenzAgro's project leverages a combination of existing technologies to empower farmers in Sri Lanka's Northern Province.
Mobile App Technologies: For farmers, Field Officers and SMEs
At the heart of SenzAgro's solution lies a user-friendly mobile application, likely developed using a framework like React Native or Flutter to ensure accessibility across various smartphone operating systems.
This app serves as a central platform for farmers, providing features like:
Access to educational materials on sustainable agricultural practices.
A marketplace connecting farmers directly with buyers, eliminating exploitative middlemen.
A communication channel for receiving real-time weather and soil data.
Internet of Things (IoT) Sensors: implementing 20 weather stations
Strategically placed weather stations equipped with IoT sensors collect real-time data on weather patterns and soil conditions.
This data is then transmitted wirelessly to a central server and made accessible to farmers through the mobile app.
Data Management and Analytics:
Appling learning technologies for crop forecasting, yield and demand predictions, and climate-smart decision-making.
The project likely utilizes a cloud-based data management system to store and analyze the collected weather and soil data.
This data analysis helps in generating insights and providing farmers with location-specific recommendations for optimizing resource management and improving agricultural practices.
Which of the following categories best describes your solution?
A new business model or process that relies on technology to be successful
Please select the technologies currently used in your solution:
If your solution has a website or an app, provide the links here:
https://www.linkedin.com/company/senzagrotech
In which countries do you currently operate?
Which, if any, additional countries will you be operating in within the next year?
How many people work on your solution team?
Full-time Staff (7):
Project Manager: Oversees all aspects of the project, including planning, implementation, and monitoring.
Agricultural Specialist(s): Develops training content and provides expertise on sustainable farming practices.
Mobile App Developer: Designs, builds, and maintains the mobile application.
Capacity building officer x 2: Manages capacity building for SMEs and farmers.
Marketing & Outreach Specialist (Optional): Develop communication strategies to reach target farmers and potential partners.
Finance manager: Manages project finances.
Part-time Staff (20):
Field Officers x 20: Provide on-the-ground support in the Northern Province, facilitating communication with farmers and local stakeholders.
How long have you been working on your solution?
SenzAgro Connect is an extension of SenzAgro, building upon a field study conducted in collaboration with the ILO in 2020. This research identified key issues faced by the region, informing the development of the system. After two years of learning, experimentation, and achieving initial successes, SenzAgro Connect is now ready for full-scale expansion.
Tell us about how you ensure that your team is diverse, minimizes barriers to opportunity for staff, and provides a welcoming and inclusive environment for all team members.
We are a team of new-generation farmers, innovative engineers, and award-winning entrepreneurs with a proven track record. Our team has a deep empathy for the farming community. SenzAgro is also supported by an eminent panel of advisory board members with over 100 years of experience in banking, the agriculture value chain, and modern agriculture.
Our leadership team comprises:
- CEO: Miller Alexander Rajendran, a 5th generation farmer, Computer Science major, and Digital Agriculture consultant since 2019, including for the World Food Program and as a young climate ambassador for the World Bank Group.
- Co-founder: Jeyjenthan Tharmakulasingam, a Master in ML/AI engineer from UOM and a serial entrepreneur.
- Co-founder: Anton Crises John Nirajh, a Master in Cloud Engineering from UOM and a serial entrepreneur.
- CTO: Brunthapan Murugaih, a 5th generation farmer and a CSE engineer from UOM, with over a decade of experience in architecting digital platforms.
- CFO: Thilakshi Chandraseker, an Engineer with CFA level 3 certification and a serial entrepreneur.
- Senior agronomist: Asitha Ranasinghe, a green inventor and Master in Agronomy who manages the 15-member agronomist team at SenzAgro.
Our board includes Mr Bernarad Sinniah, the former managing Director of Citi Bank investor, and Charitha Subasinghe, the President of John Keells Holdings PLC.
SenzAgro is a leading agricultural solutions provider with extensive experience in large-scale household data collection across Sri Lanka. We specialize in adapting data collection to Sri Lanka's diverse environment, ensuring timely delivery, effective partnerships with international and national researchers, and community engagement.
What is your business model?
SenzAgro Connect's business model is well-structured and adaptable. We are implementing two possible business models for sustainability.
1. Transaction Fee (1%):
This fee captures a small percentage (1%) of the total value of each transaction facilitated through SenzAgro Connect.
It incentivizes platform usage by keeping the fee low while still generating revenue.
This model benefits from network effects: as more farmers and SMEs join, transaction volume increases, leading to higher revenue for SenzAgro Connect.
2. Subscription Fee (USD 20/month):
This targets SMEs who access the platform, likely offering them premium features or functionalities compared to the free tier (if one exists).
This fee provides a predictable and recurring revenue stream, independent of transaction volume.
It allows SenzAgro Connect to cater to the specific needs of SMEs, potentially offering features like advanced market analysis or bulk buying options.
Long-Term Vision with Data:
SenzAgro Connect recognizes the value of the data it generates on agricultural trends, farmer behavior, and market dynamics.
By leveraging this data, SenzAgro Connect is exploring ways to unlock new revenue streams and empower its users:
Crop Insurance: Data analysis can help assess risk profiles and tailor insurance products for farmers, potentially increasing access and affordability.
Microfinance Access: Data-driven insights can inform loan decisions by MFI banks and financial institutions, making it easier for farmers and SMEs to secure funding.
Overall Strengths:
This combined model offers diversification and resilience, with transaction fees responding to market activity and subscription fees providing a stable base.
The focus on data utilization demonstrates a forward-thinking approach, aiming to create a win-win situation where data benefits both SenzAgro Connect and its users.
Potential Considerations:
Striking the right balance between free tier features and subscription benefits is crucial for attracting and retaining SMEs.
Building trust with financial institutions regarding data security and privacy will be essential for facilitating microfinance access.
Do you primarily provide products or services directly to individuals, to other organizations, or to the government?
Individual consumers or stakeholders (B2C)What is your plan for becoming financially sustainable, and what evidence can you provide that this plan has been successful so far?
SenzAgro has been operating since 2018 and reached a break-even point in 2023. For this specific project, we are utilizing a combination of grant funding and private fund mobilization, along with strategic partnerships that help minimize financial requirements for project success.
In the long term, we have a robust business model in place to sustain project funding and are actively exploring additional avenues for ongoing private fund mobilization. By diversifying funding sources and leveraging partnerships, we aim to ensure continuous and sustainable support for the project's objectives.
To kickstart this endeavour, SenzAgro has secured commitments from:
Devpro (funded by the Department of Foreign Affairs and Trade Australia): Completed a project feasibility study with a USD 20,000 investment in 2022. (Engagement: Completed)
Swedish International Development Cooperation Agency (SIDA) through GSMAIF fund: Secured a grant agreement for USD 160,000. Received first round of milestone funding and ongoing support for initial operations. (Engagement: Ongoing) (2024-25)
SenzMate AIoT Intelligence: Signed a Letter of Intent for USD 40,000 in three rounds of funding. Committed to providing additional weather stations, capacity-building workshops, and technical staff. (Engagement: Ongoing) (2024-25)
Potential Investors in Negotiation
Current Partners:
Keells (retail chain): Providing indirect support (USD 500,000) through market access, workshops, and branding (ongoing MOU approval).
Agriculture Modernization Project: Offering in-kind support for workshops and government promotion for policy making (ongoing MOU approval).
University of Jaffna: Collaborating on data analysis and agronomy intelligence for farmers (signed MOU, awaiting ceremony).
Potential Partners:
Chamber of Commerce (Northern Province): Engage for SME coordination (initiate engagement).
ILO Sri Lanka (Northern Province): Engage for fair labour practices (initiate engagement).
DevPro: Offering in-kind support (USD 15,000) for capacity-building programs, identifying the farmers, clusters and regional SMEs (ongoing MOU approval).
WorldVision: Offering in-kind support (USD 15,000) for capacity-building programs, identifying the farmers, clusters and regional SMEs (ongoing MOU approval).
Things due to date with the potential partners,
- Finalize MOUs with current partners.
- Initiate engagement with potential partners to expand reach and funding.
- Explore partnerships with donors and investees for further support.
SenzAgro seeks private capital to power our data platform, empowering Northern Sri Lanka's farmers. We'll showcase the impact (increased income, environmental improvements) and financial viability (clear ROI models) to attract investors.
Targeted Outreach & Partnerships:
Networking at industry events with impact investors, venture capitalists, and financial institutions aligned with sustainable agriculture and technology.
Investor education through webinars and workshops to highlight our solution's potential and market opportunity.
Diaspora network from the region who live in developed nations and still have the roots to connect and serve the natives.
Building Trust & Attracting Capital:
Demonstrating measurable impact through case studies and success stories.
Developing tailored investment proposals for various investor types.
Establishing thought leadership in sustainable agriculture through publications.
Transparency & Communication:
Strong online presence, media engagement, and forum participation.
Regular progress reports and transparent financial practices.
By building relationships, raising awareness, and showcasing impact, SenzAgro aims to attract private capital for a sustainable future in Northern Sri Lanka.
Solution Team
-
BM
Brunthavan Murugaiah SenzMate -
Mr Miller Alexander Rajendran Chief Executive Officer , SenzAgro (Pvt) Ltd
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Our Organization
SenzAgro Private Limited