Agrotech startup company Satyukt Analytics has been announced as the overall winner of the Smart Farm Grant Challenge (SFGC), an initiative organized by the Software Technology Parks of India (STPI) in collaboration with DCM Shriram Ltd. The company was awarded ₹50 lakhs (INR 5 million) for its innovative solutions addressing critical issues in sugarcane harvesting. This recognition came during the launch event of the LEAP AHEAD 2nd Edition at the Indian Mobile Congress 2024 in New Delhi today.
A Competitive Selection Process
Satyukt’s solution for predicting the optimal harvest time for sugarcane stood out among the 474 entries in the SFGC. The selection process was rigorous, ultimately narrowing the field to 108 applications. Satyukt was placing among the top ten teams in the ideation stage, which earned them a ₹5 lakh award. Then secured a ₹20 lakh award as one of the top four finalists in the prototype phase. In the final evaluation, solution building stage, Satyukt was awarded ₹50 lakh, alongside an additional ₹10 lakh annually for two years to support their ongoing operations.
The Smart Farm Grant Challenge launched in May 2022 seeks to address critical issues within the agricultural sector by encouraging the development of digital solutions. Participants were tasked with creating a system capable of predicting the optimum harvest time for sugarcane. The project requirements included the use of computer simulations and digital data to provide accurate predictions, yield estimates and real-time monitoring of crop conditions.
Innovative Solutions for Stakeholders
Satyukt Analytics claims to be a key player in the agrotech sector, focusing on the digitization of agriculture through the utilization of satellite-derived data and advanced technologies such as machine learning and artificial intelligence. Their award-winning solution features a digital dashboard that delivers actionable insights tailored to various stakeholders, including farmers and sugar mills.
Satyukt Analytics provides innovative products like Sat2Farm, Sat4Agri, and Sat4Risk.
Sat2Farm is a mobile app aimed at making precision agriculture accessible to all farmers, particularly smallholders, by addressing their data challenges and simplifying daily farming tasks.
Sat4Agri is a web application that helps various agricultural stakeholders and climate activists analyze the impact of farm practices on a regional scale, benefiting the agricultural supply chain and input companies.
Read more: NSC Begins Selling Seeds Online via ONDC, Ushers New Era for Indian Agriculture
Sat4Risk is a mobile and web application designed to streamline risk assessment for agricultural and property risks. It utilizes satellite remote sensing technology to offer a scalable platform that speeds up approval processes and provides stakeholders with real-time information.
Together, these solutions aim to close the data gap faced by farmers, simplify daily agricultural tasks, and ultimately improve efficiency and productivity.
Implementation and Future Impact
Satyukt’s solution will be implemented over a 100-acre plot, utilized by the Government of India, state government entities, and sugar mills over the next three years. This initiative will provide valuable advisory services to farmers and improve agricultural practices in the sugarcane sector. Additionally, it aims to enhance sugarcane farming and serves as a model for future agricultural innovations in India.
“We are thrilled to be recognized by STPI for our efforts in revolutionizing sugarcane harvesting. This award underscores our dedication to enhancing agricultural productivity and sustainability through technological innovation.”
Recognition and Commitment
The felicitation ceremony took place in New Delhi, with S. Krishnan, Secretary, Ministry of Electronics and Information Technology (MeitY) serving as the chief guest. Several key figures from the MeitY were present at the event.
“Indian startups have risen to solve long-standing challenges in India’s agricultural sector. The LEAP AHEAD 2 initiative will greatly improve the working conditions of farmers, especially in North India.”
Emphasizing the importance of startups focusing on business development alongside product innovation, K. K. Singh, Joint Secretary at MeitY, highlighted the initiative’s commitment to providing the essential tools for sustained success, particularly in the agricultural sector. “While startups excel in product development, greater emphasis needs to be placed on business development. Innovation flourishes with the right mentorship and strategic incubation. The LEAP AHEAD initiative aims to empower startups by concentrating on business growth, fostering venture connections, facilitating international collaborations, and supporting IP filings. Technology has the potential to transform sectors like agriculture, and we must shift our focus from merely generating grants to enabling startups to thrive independently.”
LEAP AHEAD Initiative Launched
The Software Technology Parks of India (STPI) launched the LEAP AHEAD 2nd Edition at the Indian Mobile Congress 2024 in New Delhi, building on the success of its inaugural edition. This initiative aims to empower tech startups in scaling operations, diversifying products, and expanding regionally. The program offers up to ₹1 crore in funding and a three-month mentorship initiative, providing access to a vast network and personalized guidance from industry leaders.
Alongside the Smart Farm Grant Challenge (SFGC), LEAP AHEAD focuses on addressing challenges in technology and agriculture. The event also introduced Electropreneur Park 2.0, a collaboration between MeitY and STPI to support emerging startups in the Electronics System Design & Manufacturing (ESDM) sector. Panel discussions provided valuable insights for young entrepreneurs, while the event served as a crucial networking platform, connecting them with potential investors and industry thought leaders.