Stellapps Technologies Wins Rabobank’s SustainableAg Asia Challenge
Data and Innovation are Key to Asia’s Food-secure Future
Singapore, 10 October 2019 – Stellapps Technologies of India today won Rabobank’s SustainableAg Asia Challenge, the food and agri banking leader’s pioneering platform for agri-tech start-ups and innovators across the region to showcase innovative solutions to drive integrity and interconnectivity throughout Asia’s vital agriculture and food supply chains.
It topped a shortlist of 14 companies that participated in a marathon Pitch Day, presenting their solutions to a judging panel comprising senior management of Rabobank Foundation, as well as senior representatives of SustainableAg Asia Challenge partner companies ADB Ventures, Archer Daniels Midland, Bayer, Bits & Bites, COFCO International, DSM, Future Group, Olam International, and Temasek.
The India-based company impressed the judging panel with its SmartMoo solution. “Our application is aimed at driving digitization of the dairy sector through captured data from the entire supply chain, significantly enhancing income, profitability and yield per cow of famers in emerging economies,” said Umesh Parjapat, Program Manager at Stellapps Technologies.
Stellapps Technologies and four other companies judged as the Top Five submissions – DeHaat, Longcom Internet-of-Things, AgNext and PT Crowde Membangun Bangsa – share a pool of winners’ cash prizes totaling US$20,000 and are now invited to present their solutions at Rabobank Asia’s Food and Agri (F&A) Advisory Board Meeting in Shanghai on 31 October. The annual premier event brings together chairmen and CEOs of leading food and agribusiness companies and commodity traders from China, India and Southeast Asia.
Speaking at the prize-giving ceremony, Albert Boogaard, Head of Innovation at Rabo Foundation, said: “What’s happening in Asia in terms of scale and focus on the end users is really impressive. Overall, the judges were greatly impressed by the innovation, passion and commitment shown by participants of SustainableAg Asia Challenge. These technologies and new business models can serve as catalysts for Asia’s diverse and fragmented food and agriculture industry, providing food and agri companies with the means to reinvigorate food production with smart farming, more effective and efficient processing and distribution techniques, as well as improving lives for smallholder farmers throughout Asia.”
Diane Boogaard, Rabobank Asia’s CEO, said: “Data and innovation are key in driving the changes needed to improve food and agri supply chains, thereby creating more sustainable food production. Through the SustainableAg Asia Challenge we want to connect innovative solutions with our corporate clients to drive sustainability and integrity in agri-food supply chains. As a major cooperative Food & Agri bank, enabling the change to a more sustainable food supply chain is core to our mission of ‘growing a better world together’. We do this by providing access to our knowledge, networks and financing solutions.”
SustainableAg Asia Challenge, supported by Rabo Foundation and Rabobank, drew a total of 138 submissions from a cross-section of technology start-ups and businesses in the food supply chain – including farming, food and agriculture traders, and food companies and retailers – that use cutting-edge data-driven technology, analysis and interconnectivity to develop market-ready smart farming techniques to help meet increased demand for food in Asia. While Asia’s population is expected to increase from 4.6 billion to 5.3 billion in 2050, limited arable land and natural resources are available for increased food production.
Find out more about the SustainableAg Asia Challenge by Rabobank at: www.sustainableag.asia
With roots in the Netherlands and Food & Agri, Rabobank is an international financial services provider with activities in 39 countries in the field of retail banking, wholesale banking, private banking, leasing and real estate. Measured by Tier 1 capital, Rabobank Group is one of the world's largest financial institutions with high credit ratings by all rating agencies. As an industry leader in environmental, social and governance (ESG), Rabobank is ranked as an ESG Leader by Sustainalytics, placing Rabobank in the top-5% of its industry peers.
Rabobank’s mission of ‘Growing a better world together’ stems from our cooperative heritage and agricultural roots. With our knowledge, networks and financing capabilities Rabobank aims to encourage and facilitate clients in adopting a more sustainable food production practice globally. We do this by concentrating our efforts on four most pressing food issues together with our clients, partners and colleagues worldwide: increasing the availability of food, improving access to food, promoting a balanced nutrition and increasing stability of food supply chains. Last year, Rabobank launched its first Asia Innovation Challenge, the “Food Loss Challenge Asia” with
India-based company Ecozen Solutions and its solar-powered cold rooms emerging as the Winner.
Read more about Rabobank at www.rabobank.com.
About Rabo Foundation
Rabo Foundation is Rabobank’s social fund. The Foundation invests in the self- sufficiency of farmer organizations in Africa, Asia and Latin America, by putting up finance and by sharing the cooperative, banking and agricultural expertise that the Rabobank Group has built up over many years. This helps organizations to achieve their goals of offering small-scale farmers access to financing, savings opportunities, knowledge and new markets.
In addition, new technological developments can be deployed to help serve small farmers even more effectively. Digitization is therefore a key focus for Rabo Foundation and consists of a combination of four data streams: field information from the farmer, chain information, geodata and the use of fintech such as a mobile savings account and credit scoring. This fits seamlessly into Rabobank’s mission of growing a better world together.
Read more about our Rabo Foundation at www.rabobankfoundation.com.
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