With the largest population in the world and as one of the largest agricultural economies in the world, China represents a major opportunity for startups and investors alike.
Chinese agrifood startups raised $5.8 billion of investment across 283 deals with 318 participating investors during 2018, according to the 2018 China AgriFood Startup Investing Report released by AgFunder in collaboration with Chinese food tech VC Bits x Bites.
Many Kenyan farms struggle for access to quality farming products like vaccines, fertilizers or diagnostic equipment; the farmers also find it hard to attain or acquire sound veterinary or technical expertise, according to Sidai.
Verde AgriTech, a fertilizer business operating in Brazil, recently launched a new business unit called Verde Marketplace, which it hopes will become the first B2B platform for farmers to offer sustainably-produced food on a large scale to interested corporate buyers.
The startup launched the startup competition to showcase the latest in agriculture innovation to its farmer members, and to give startups the opportunity to get exposure and real-time feedback from their target customers.
Agribusiness marketplaces are a hot trend in agrifood tech at the moment as entrepreneurs look to create more options for farmers than existing distribution channels to give them more flexibility and hopefully more money in their pockets.
"Always prioritize building a great team and bringing on great partners," say Maximiliano Landrein and Alejandro Larosa, founders of the online agribusiness marketplace. "This is a long race and to have the right people on board is vital."