Redefining agritech in Southeast Asia: 5 Key takeaways
The agritech sector in Southeast Asia is at the forefront of addressing some of the most pressing challenges facing global agriculture today. During East Ventures Summit 2024, we brought four of our portfolio to shed light on their insights, experiences, and strategies for overcoming the unique challenges they face in the agritech industry.
Building Chickin: From farm to industry leader
Chickin began with three college friends sharing smashed fried chicken, an Indonesian regional cuisine called ayam geprek, and a passion for creating a real, positive impact in Indonesia: Tubagus Syailendra, Ashab Alkafi, and Ahmad Syaifulloh Imron.
Moosa Genetics, an animal genomics and biotechnology startup, announced a new funding led by East Ventures
Moosa Genetics, an animal genomics and biotechnology startup based in Indonesia, announced that the company raised funding led by East Ventures, a pioneering and leading sector-agnostic venture capital firm focusing on Southeast Asia, with the participation from angel investors. This funding will be allocated to build laboratory, team, marketing, and wagyu partnership to fulfill the demand for its customers.
Creating future farming with technology for food resilience
The world is facing a dire situation. By 2050, the population is expected to reach an unprecedented 9.7 billion, while the food demand is expected to double. If we do not change our global agriculture system, the world might run out of food in just 27 years, according to The World Count. This is one part of the frightening reality that we must confront. The world is facing many challenges, including climate change, which is causing decreased farming output and rising hunger worldwide.
Turning your ideas on climate issues into real impact
Southeast Asia is currently on track to experience a 3°C warming, which goes beyond the target set by the Paris agreement to limit global warming to 1.5°C. This projection has significant ramifications for the worldwide market and the well-being of the Southeast Asian population.
Collaboratively leveraging agritech for resilient and inclusive growth
Indonesia is an agricultural powerhouse with over 42 million hectares under cultivation, yet productivity is widely considered to be suboptimal. According to the World Bank, 93 percent of Indonesia's agriculture output is dominated by smallholder farmers who earn an average of US$ 3.20 per day, younger generations are becoming increasingly uninterested in the sector.
The role of fintech lending to Indonesia’s agribusiness sector
Agriculture plays a significant role in Indonesia's economic growth and development. It contributed to 14% of the nation's GDP in 2020, and the sector employs 29% of the Indonesian workforce. However, most Indonesian farmers are still living in poverty. According to World Bank’s data, around half of the Indonesian farmers are smallholders that earn an average of US$ 3.2 per day.
Reimagining Indonesia’s agriculture by strengthening the supply chain
Indonesia is known as one the world’s major agricultural nations and some of the world’s largest producers and exporters of crops such as rubber, copra, palm kernels, palm oil, coffee, cocoa, and spices. However, Indonesia’s agriculture technology and productivity falls behind neighboring countries, something we believe that we can improve the industry by improving the supply chain.