The National Bank for Agriculture and Rural Development (NABARD) has announced the launch of a national hackathon to identify innovative digital solutions capable of revolutionizing India’s agricultural value chain. From improving farm productivity to enhancing market linkages and strengthening supply chains, the hackathon seeks to address the multifaceted challenges faced by the sector.
Participants will have until August 15 to develop their solutions and submit their entries. A panel of experts will evaluate the proposals, with the winning team receiving a cash prize of Rs. 1 lakh.
A key focus of the National Agri-Innovate Hackathon is to bridge the financing gap prevalent in the agricultural sector. By promoting financial inclusion and facilitating access to credit for farmers and agri-entrepreneurs, the initiative aims to foster sustainable agricultural growth and development.
This unique agro value chain financing is an innovative approach to identify financing needs and gaps throughout the chains and connect finance providers with different nodes, thereby improving financing access.
The real challenges lie in connecting different stockholders, suppliers, buyers, and financial institutes to address critical issues. Further, the fest will address issues such as limited access to finance, poor market information, and inefficient value chain operations.
Through successful collaboration and innovation, the fest aims to provide farmers with financial access and drive sustainable rural development. The fest can enhance agricultural productivity as well.
