Case Study

IIMK/CS/114/OB&HR/2020/02

February 2020
Can Social Aspirations Be Realized Through A Market Model?
Experiments of an Agtech Venture in India

Priya Nair Rajeev1 & Simy Joy2

1
Associate Professor, Organizational Behaviour & Human Resources Management, Indian Institute of Management,
Kozhikode, IIMK Campus, Kunnamangalam, Kozhikode, Kerala 673570, India; Email: priya@iimk.ac.in, Phone Number
(+91) 495 – 2809439

2 Faculty Fellow, Organizational Behaviour & Human Resources Management, Indian Institute of Management, Kozhikode, IIMK
Campus, Kunnamangalam, Kozhikode, Kerala 673570, India; Email: simyjoy@iimk.ac.in, Phone Number (+91) 495 – 2809425
Agtech Experiments

Can Social Aspirations Be Realized Through A Market Model?

Experiments of an Agtech Venture in India

It is startling yet numbing statistic 11% of all suicides in India are by farmers (National
Crime Record Bureau) a number that has been steadily increasing over the years. Gradual
impoverishment on account of falling crop yields and a complete absence of alternative income
sources contribute to this pathetic state. Government endeavours like providing monetary
assistance and credit waivers to mitigate farmer distress have hardly brought any improvement
in farmer livelihoods.

Agriculture is the prime source of income for about 58% of Indian Population. The
Food & Grocery retail market in India was worth US$ 380 billion in
2017(https://www.ibef.org/industry/agriculture-india.aspx).Yet, farmers have been unable to
eke out a decent livelihood from farming while companies selling food products made profits.

Being the grandson of a farmer and seeing farmer distress up-close, Krishnakumar shared their
angst: They are still poor in spite of having a “factory which is producing something” but
unable to realize the right price for their produce. The food which we buy from the retail shop
is more than 200 times of the original price at which a farmer sells it”. The impetus to start a
tech venture that would help farmers came from an acute sense of moral responsibility
Krishnakumar felt towards the small and impoverished farmers. An engineer in
Instrumentation and electronics, his four-year stint at GE gave him the initial opportunities to
apply his programming skills to appliances and later lead the Information Management
Leadership Program. He was sure of finding a technology solution to improve farm
productivity and thereby prevent farmer suicides. The driver to venture into technology that
could help farmers also came from a need to set up an impactful business which could cover a
huge part of a critical but underserved segment in society. He recollects, “… also wanted to
pick up sector which has a larger impact on society and actually requires the technology which
can turn around things in this sector”. Farming, being fragmented in size, weather dependent
and prone to pest infestations, diseases and consequently plagued with low productivity offered
an ideal ground for a technological intervention. “We started thinking about data, machine
learning and AI because when I looked at this problem, I knew it was too big. There is so many
small farmers and their farms are distributed across the world”. With 58% of Indian

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population dependent on agriculture as a source of livelihood, this was the sector were
contributions would have the most significant impact.

Venturing into unmapped lands

Even as an employee at GE, Krishnakumar knew that the key to a turnaround in agriculture
could happen through the application of data analytics using which the farmers can make an
informed decision which will improve their revenue.

Reading ‘Straight from the gut’ written by Jack Welch that gave Krishna Kumar the hope that
he could develop technologically innovative solutions by himself, knowing fully well the
enormity of the task that lay ahead of him. His resoluteness conveys his pro-innovation stance
and a willingness to experiment with technology in agriculture in a manner and scale that had
never been tried before.

Theoretical, Empirical and Policy Foundations for Social Innovation in Europe (TEPSIE) in
their definition (2012) call social innovations new solutions (products, services, models,
markets, processes etc.) that simultaneously meet a social need (more effectively than existing
solutions) and lead to new or improved capabilities and relationships and better use of assets
and resources. In other words, social innovations are both good for society and enhance
society’s capacity to act.” In the making, he had a social innovation in mind, an idea that
addressed a social problem in new and just way than existing solutions and for which the value
created accrues primarily to the farmers and society rather than private individuals (Mulgan
et al. 2007; Phills, Deiglmeier, and Dale 2008) or companies who were their target customers.
Cropin Technology Solution Ltd set up in 2010 was a response to tackle low agricultural
productivity, low earnings and indebtedness of farmers. The complex and multifaceted
problems that plagued the agricultural sector needed a new approach of management. By
providing technology based solutions for farmers, corporates, banks and even the government
in the form of real time actionable insights, the venture has made it possible for several
stakeholders to access granular data on crops and manage production, pricing, storage,
distribution and financing better. Until now, over 1 million acres of farms have been brought
under the cover of technology, impacting around 5 million farmers. Working in the B2B space
with more than 120 clients, CropIn aims to work towards Prime Minister Modi’s vision of
doubling farmer income by 2022. The motivation and social purpose of the venture comes
through in this statement of the founder, “you can do a lot of stuff for the farmer’s life. We
believe that this is the right time to create and use a platform which can connect this whole

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ecosystem not only the farmers but can take this ecosystem together, whether it’s a people
oriented company or farmers company or anything”. The size of the target segment of farmers
and the magnitude of the problems they faced made it necessary for the founders to think of a
business model that could maximise impact. Their B2B model was positioned at agri-business
companies who could make use of a full stack of products that are “intuitive, intelligent, and
self -evolving systems that offer farming solutions” (https://www.cropin.com/about/). Their
real-time solutions enable agri-business companies’ benefit from historical data, predict
emergent trends for their business decisions. CropIn‘s model allowed them to access several
thousand farmers through their client companies rather than attempt to connect with a smaller
number of farmers directly. “The solution lies only in using technology. But it cannot be one-
to-one technology”. The venture therefore satisfies the dual conditions (Desa and Kotha 2006;
Scillitoe, Poonamallee, and Joy 2016) for it to be counted as a social venture namely being an
entrepreneurial firm formed to create social value and one whose value proposition to
customers (agri-business companies) and/or beneficiaries (farmers) comes from a
technological innovation.

The founder’s objective was not only to develop and deploy technological innovations in a
unique manner but to usher in large scale societal benefits such as job creation, economic
growth, and improved quality of life and standard of living (Gopalakrishnan, Kessler, and
Scillitoe 2010). In the words of Krishnakumar, I don't think my motivation was about making
profits. It was, can you really solve this large a problem which exist, that somebody will have
to solve today or tomorrow. We started a venture when nobody in the world had tried out
something similar. As an entrepreneur, his propensity to be an early adaptor of technology in
a hitherto unused space stands out.

The grand challenge

There is an enormous need for a digital platform that connects all the stakeholders in the entire
value chain of crops to reduce the inefficiency and increase visibility throughout the supply
chain management. Small and marginal farmers have poor post-harvest storage facilities, and
lack access to fresh produce marketing channels. Subsequently, they are left with little option
but to sell their products immediately after harvest, when price fall regularly to levels lower
than the expense of generation. With no information on logistics, financial services and risk
management measures farmers, it comes as no surprise that farming is on the verge of becoming
an unproductive enterprise for farmers.

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These challenges have offered opportunities to CropIn in leveraging technology to ensure

traceability of fresh produce from ‘field to fork’ in the entire value chain. Its integrated platform
digitizes the farmer’s database on crop planning and management, inputs, credit, post-harvest
management, offering better market linkages for the farmers.1 In the words of Krishna Kumar,
‘the world populace is expected to cross the 10 billion by the middle of the century and its
consolidated contact with urbanization and the ascent of the working class will undoubtedly
increase requirement for robust, reasonable and viable food sources which would require the
present production to be multiplied at that point. In meeting this objective, smart agtech
solutions would demonstrate auxiliary by upgrading horticultural processes, better
management of waste, creating weather flexibility and giving opportune agricultural advisory’.

CropIn’s mission is to make every farm traceable and maximize farm acreage. Digitizing farms
around the globe will make farming processes scientific, data-driven, and predictable. By
providing users with real-time advisory and alerts on weather, crop health and pest attacks,
farmers have been able to cut down on crop loss. The timely advisories based on satellite
imagery and weather forecasts for the region can alert farmers about potential pest infestation
or crop disease and aid them in taking pre-emptive measures to protect their crops.
Furthermore, CropIn’s traceability capabilities keep track of the movement of produce from
farm to fork, including all processes that went into its production, harvest and distribution,
thereby ensuring high quality and purity of food served on a table.

Products and how they create value

Their foremost technological innovation was the creation of a product ‘SmartFarm’ a farm
management solution which has digitized farms. The product works on farm data gathered on
the kinds of crops grown, varieties of crops used, various inputs that go into cultivation and
information on yields. This application platform “acts as a bridge between all the stakeholders,
agribusinesses and farmers” by offering them decision inputs and insights from past trends that
help boost farm productivity.

It took four years of efforts to gather a critical mass of data and learn from it. The team had to
collect data from small farms, speak to farmers, see the crops and their varieties grown and get
well versed in different kinds of farming practices used, all of which impact farm productivity.
This coupled with weather and water data helped them develop an analytical tool for better

1
Verbatim from Alekya, a manager at CropIn.

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judgement and decision making. Using satellite data was the prevalent model. CropIn went a
step ahead by gathering multisource data and integrating it using artificial intelligence. AI was
the tool by which it became possible to use data from millions of farmers to build a predicative
model that can suggest what combination of inputs under certain conditions can offer the best
productivity. It was a unique data-set that was painstakingly put together, which in the past was
simply not available with any company or even with the government.

While the solution may be tailored for farmers themselves and shared through non-
governmental organizations, high-end predictive capability and thereby the power for large
scale impact made market orientation and B2B selling a pragmatic choice. “We don't work with
the farmers directly because we don't have the finances or capability to do so. We learnt soon
that we do not need infrastructure to serve a social cause that we had in our mind, says
Krishnakumar explaining why they decided to work with companies rather than individual
farmers. Technology being their core competence, they strategically build a product to gather
data on the platform that was free with the satellite data and offered it to companies to realize
greater value from the farms they worked with.

In terms of innovation complexity, their products required a lot of farm-level data. The idea of
deploying technology for prediction had to be sold to the customers and beneficiaries and
selling the concept was most feasible with food companies rather than with farmers in the early
days. The choice they made was to go to the big companies who could influence their supplier
farmers to share information. Several advisers told Krishnakumar to go to small businesses as
decisions are taken fast there whereas multinational companies take months to take a call. But
he was clear that doing business with large corporations would be invaluable in getting new
businesses.

For example, SmartFarm was positioned at agri-tech companies to help them derive insights
from the data they had about farms that grew their input produce. Krishnakumar recalls, “we
gained from their (ITC) information and gave an understanding back to them so on the off
chance that they are having 10,000 plots of land, we revealed to them which is going great
which isn't working out in a good way and what practices work and which are not working,
what is the weather pattern”. By doing so, the customer could make smarter choices in running
their operations, and in turn pass on crucial advice to the farmers who implemented these
decisions in their farms.

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Their another item SmartRisk offers a prescient and prescriptive answer for banks and other
moneylender foundations data about the credit value of a farmer and the credit danger of
loaning to him, and advance recuperation help. Such arrangements are conceivable from their
proprietary machine learning based on ground, satellite and climate information giving
important information experiences on crop yield, crop stage and harvest wellbeing (at crop and
provincial levels) all of which influence reimbursement capacity of the farmers. In the words
of Krishnakumar, over a period of time they “started plugging different ecosystems within the
system. So one is the farmer (mWarehouse, AcreSquare) and the other is the food company
(SmartFarm) and the other is the banks and insurance companies (SmartRisk).

Later another plug-in, SmartSales was created as a complete CRM and input channel
management solution, which anticipated and improved sales and guaranteed end-to-end
performance management of sales team. Finally, AcreSquare helped in associating customer
organizations with the farmers to share content, teach them and give counsel, in this way
empowering organizations to stretch out the intensity of innovation to their farmers and develop
farmer dedication. CropIn made it possible for companies to interpret farm level information
and share it with farmers along with weather and market insights so that farming can be better
managed. Client companies with their capability to manage the longest part of the value chain
helped actualize the value of CropIn’s products for deeper social impact. “People in large
organizations, started talking about data driven farming. Their adoption was much faster. They
are ready to pay for it. They see value in it”. Very soon, their clients understood and appreciated
how the tech innovation could add value to their business. “So my job was to network with the
people and since we were early in this innovation we got lot of respect in the market as well.
Nobody was trying to do this. And we created something in agriculture”. As suggested by Hsu
(2017) the combination of a market along with technological orientation was the key to
CropIn’s success in product development which necessitated high levels of learning about a
previously untested farming sector. As socio-tech ventures are a blend of both market and
social orientation (Scillitoe, Poonamallee, and Joy 2016), CropIn fits that description well by
being market–orientated for sustaining and developing the business with a deep social
orientation as its key driver and social benefit as its mission.

Initial Venture Funding

Being a technology company, they needed high capital infusion both for development and
scaling up. The founders did not rely on grants alone as that source would be insufficient for

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their scale of ideas. The initial funding of Rs 7-8 Lakhs for their small bootstrap company based
out of Bangalore came from friends Kunal Prasad and Chittaranjana Jena.

Founded on a novel idea of using a techno-innovation in a sector that had seen little
technological interventions, the liability of newness limited options of funding as several
funding houses were cagy about investing in them. “I think after eight months we received our
first funding because every funding house said ‘no’ as there was no parallel competition to
compare what we were doing, there were no success stories [to convince them]”. Later they
have been able to get $8 Million Series B funding from Chiratae Ventures (formerly IDG
Ventures) and the Bill and Melinda Gates Foundation Strategic Investment Fund. The venture
also raised about $4 Million from investors including BEENext, Invested Development,
Denmark-based Sophia Investment, Ankur Capital and BSP Fund LLC.

Relationship with stakeholders

Field Fresh Inc. was their first customer. Working for them helped build the credibility to win
big clients like McCain, OCA etc. While making the choice of the customer, the founders were
advised by many to go with smaller companies who might want to try out their new product.
But they strategically chose the opposite because large companies had the wherewithal to
experiment with a new product and benefit from it. With smaller companies, inadequately
prepared for a change, the trial could be perilous and if it failed the reputational damage could
abort the new venture. The choice of initial partners therefore was a critical choice in setting
the strategic direction of the venture.

The utility of the technological innovation could be fully exploited by involving diverse
stakeholders in the business. For example, lending agencies and banks were stakeholders they
could service. Their interactions with banks were more like consulting, offering advice and
feedback on the repayment capacity of farmers they have loaned funds to. By examining the
farm history, it is workable for the item to evaluate the yield developed and salary earned
dependent on which a manufactured pay can be anticipated for the following season. This data
helps the banks in choosing the quantum of cash to be lent dependent on reimbursement limit
of farmers. For banks battling with gigantic NPAs, this is a crucial information.

Another prominent stakeholder of CropIn today is the government. The large scale soil
conditions, crop yield, pest, disease and weather data is a vital input for the govt. in making
policy decisions. For example, the Prime Minister propelled the Pradhan Mantri Fasal Bima
Yojana (PMFBY) in 2016, as in integrated crop insurance scheme supplanting several smaller

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plans. The endeavor has been utilizing innovation to mention to the government what could be
the likely yield for different harvests in various states empowering the government settle on
endorsing costs brought about by farmers and offering of crop insurance. 'Presently we are fit
for separating the entire nation into 10 by 10 pixel frames, presently we are examining a postal
codes and we realize which crop is yielding in each postal code, it is useful for the legislature
to know it much previously, banks to comprehend small scale level data. For instance, we can
let you know in a particular spot which is the yield over there, high growth over there or low
growth and so forth. We did it for helicons, it's a mixture of various grains. So we can take a
decision on what should be higher on the yield this time and I need to do the planning
accordingly”.

Krishnakumar talks with confidence about their “capability to talk at the pixel level, talk about
the plot level, district level, state level and country level. We can forecast the whole country.
Our machine learning models can detect and cover most of the major crops globally”. The
information is analysed to such a granular level, that it is workable for CropIn to guidance
organizations on the measure of synthetics that have gone into a specific produce. This aide in
conforming to legitimate guidelines on food quality crosswise over countries and in
recognizing and disengaging what is destructive for human utilization.

Founders, leadership and strategic intent

In entrepreneurial ventures, strategic orientation influences strategy execution and,

subsequently, organizational performance (Musa et al. 2017). CropIn’s strategic orientation
has always been towards maximizing social benefit. The founder was acutely aware of the lack
of experimentation and use of technology to improve agriculture, “nobody is doing enough in
agriculture. Nobody is thinking of building something with technology. You may fail but let me
help you to add some value.” He was rather confident in his capability to make that first step
in using tech innovation for social impact.

Their products were developed after an in-depth immersion in a field most of the founders were
unfamiliar with. “We used to go to the farm, look at the crops, so I know what all diseases can
affect the crops. I think it was more of learning got from more of interacting with the customers,
their scientists, economists, and with the farmer. If you look at CropIn none of the employees
came from a farming background. But they are very good farmers now. Every day is a new
learning”.

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Further, the orientation was to impact the whole ecosystem by developing multiple products
that serviced their needs and together made the agricultural sector robust – “in an ecosystem if
any member isn't progressing admirably, the entire environment will crumple. In the event that
the farmer isn't working out in a good way, the biological system breakdown. On the off chance
that the seed organization isn't doing nicely, at that point farmer won't get quality seeds. So
you can't simply support one. You need to make an incentive for the entire environment. For
framer it is more money and output. For cultivating organizations, better quality data sources.
For the bank it is less NPA, for the govt. lesser lacks, so you can see your worth relying upon
what your identity is".

The strategic intent of the founders was to provide a technology platform that could connect
big food companies, lender, banks and government to the farms and farmers, an integrated tolls
which made data gathering, analysis and superior decision making possible. Initially, it was the
big companies that were targeted as they had greater capability to cover large tract of farms.
Krishnakumar reasons, “but the appetite for and adoption of technology was very different.
Large customers had larger appetite in the system, but adoption depended on what they wanted
to do or they did not want to”. We see that venture success depended upon building products
that addressed needs of large customers. Later on smaller companies also stepped forward to
try their products, “now the world is changing. They (smaller companies) don’t want to be left
behind. They had to compete with the larger guys and they were lacking in technology, so how
do they do it? CropIn’s acted as an enabler of the infusion of technology into agriculture and
agribusiness.

Government could find value in the venture products as a lot of money was being invested in
the development sector. There is a dire need for technology that can help in monitoring and
measurement. Lack of rigorous measurement mechanisms, it is not possible to fix
accountability and ensure that monies are benign utilized for earmarked projects and programs.

With regard to product development, a combination of market and social orientation ensured
products were developed for customer requirements that could be used by several others, “if it
impacts the mass, then we build it”. Yet, service orientation persuaded them to find out how a
customer would use the product and make it more configurable and more customizable. This
approach has helped CropIn acquire a very strong customer base.

When the products were introduced, end users (farmers and field officers) had to be trained in
using the smartphones that were used to gather critical data. The products had to be made

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capable of working offline too as internet connectivity was unavailable or intermittent in many
places. Secondly, the end users were not educated or familiar with technology. So they had to
be persuaded to adopt technology and trained in doing so. Finally, the venture had to create
assets like smartphones for collecting data. Later it became easier to collect data s farmers got
familiar with smartphones and apps. “Training in early days was a challenge, but now it is not.
Because people are using Facebook, WhatsApp. If you look at your home also if elder people,
they never used to. But today they are using all apps. That’s how technology has taken place
in your life. So the field officers got very accustomed to the technologies. Now I don’t think
there is a problem on technology in the rural India. Even farmers are asking for application.
It's a good sign”. Technology adoption by rural masses for their personal use has therefore
helped high-tech products to penetrate into rural markets and bring large scale economic
benefits.

Venture legal structures

CropIn has been incorporated as a revenue driven organization, getting to assets from key
venture reserves and through grants. They fit the description of a hybrid venture with market
oriented structure and culture but social in their mission. The challenge in overseeing the two
sorts of funders lies in the way that both utilize various measurements and look for various
types of results from the endeavour. The value holders are worried about number of clients
ready and valuation of the endeavour. For other people, the quantities of farmer accomplices
are top need. In any case, it's just the request for need of money related results or social effect
that changes, all funders perceive both as similarly significant for the endeavour’s development
and achievement. Krishna Kumar admits, 'I will get inquiries from both these folks. Just the
request for the inquiries may be distinctive for various investors’. The challenge for the venture
is trying to balance the two seemingly opposing orientations.

Till date the strategic orientation and operations of the venture have not been altered much to
suit the funders. Funders do ask them a lot of questions and even meet and approve hires to
critical positions as a lot of money is now at stake, unlike during the initial days when the
venture founders had a free hand in all hiring decisions. Hiring is an area where Krishnakumar
invests a lot of time with prospective employees to assess their fit with the venture’s social
orientation, “I personally look at people, at how passionate they are about what they have done
in the past and how passionate they are when thinking of problems. Because if they are not
passionate enough to align to what we are trying to achieve it’s not going to happen. I spend

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lots of time like one month two months, meeting them (prospective employees) couple of times”.
Integrity and an ability to work well with team members are sacrosanct in CropIn coming from
the belief that it’s a team not a person who builds a company. Both salary and a fulfilling role
are on offer to attract intelligent employees, along with development opportunities through
online courses and internal training sessions.

The social orientation is considered a given in the venture, comes through clearly in their
mission and hence is not be talked about much while engaging with external stakeholders.
Their challenges are social and macro. Krishnakumar likens his role at CropIn to that of a
driver, who had to choose the strategic direction of his venture. “We are very clear that we can
predict the pixel. I think the nature of our business is social. I don't want to do much to create
a balance because it has an impact on the farmer. End of the day, if I'm not able to create a
better quality product that can increase the yield from the farm, we don't even use the system”.

CropIn tries to arrive at 20 million farmers in the following 5 years and construct a 100-million-
dollar business for the monetary financial investors subsidizing the agrarian part. The end lines
that Krishna Kumar talked summarizes the endeavors social position as well, "“I believe if
money doesn't go to the farmer, nothing is going to change”. Improving the exactness of their
prescient innovation and drawing in the best of ability to enhance on new item contributions
are the twin difficulties that the endeavors faces as it furrows ahead through much bigger
farmlands.

Summary

Founded with the objective of addressing farmers’ poverty, CropIn developed a range of data
sciences/AI based products that aggregated crop/farm level data using field methods as well as
satellites and predicted patterns, in order to provide advice to farmers on the appropriate actions
to be taken as they faced different issues over the course of the crop cycles. These products
simultaneously addressed an unmet need of the other actors in the agri-ecosystem – the need
for data and predictive models, desperately felt by farming/food processing companies,
producers of seeds, fertilizers, equipment, nutrients and pesticides, financial lending
companies, insurance companies, as well as the government and other advisory bodies.
Working with large multinational corporations as partners who had the reach and financial
muscle to undertake grass-root level trials and implementation, this venture has bridged the
information gaps between the farmers and various actors in the ecosystem that interact with the
farmers, and enhanced overall efficiency and effectiveness of agri-sector operations. Cropin is

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a data science/AI company that sees its efforts as a socially driven as long as their products are
beneficiary focused, even if the beneficiaries are not their direct customers.

References

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Gopalakrishnan, S., E. H. Kessler, and J. L. Scillitoe. 2010. “Navigating the Innovation

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Entrepreneurship. Oxford: Saïd Business School

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Musa, S., B. W. Soetjipto, W. L. Gardner, and R. Rachmawati. 2017. “Authentic Leadership,

Strategic Orientation, Strategy Execution and Firm Performance.” Academy of Management
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