Sunday, May 26, 2024

What Is Agtech And Why Should Farmers Invest In It?

May 28, 2020 by  
Filed under Opinion, Tech/Internet, Weekly Columns

Like Love Haha Wow Sad Angry

( Agriculture is one of the major sectors where automation is becoming more common. Technology is changing farming, with things like driverless tractors and automated harvesters. As farms face new challenges posed by extreme weather, climate change, and the growing population, agtech is sure to only become more popular and commonplace. 

What Is Agtech?

Agtech is still a pretty new industry, that is applying modern technology to agriculture, alongside the classic like machinery from Agtech also includes wide-ranging solutions to steps in the process of food production. There are three main categories of agtech; tech-assisted farming, new farming, and revolutionary farming.

Tech-assisted farming is the most common part of agtech. It refers to the use of technology to improve farming techniques. This could include a water management system, analysis of soil, drones and robots, and analytics for predicting the weather. 

The advanced methods and devices allow for food production that is more precise, reliable, and efficient. It also leads to more profitable farming. Some methods allow farmers to use less fertilizer and pesticides, which keeps the price of food down and reduces the impact on the environment. 

New farming is using technology to develop new farming techniques. This might include things like vertical farming, AeroFarms, or hydroponics. These systems allow farmers to grow crops in areas with little to no water, sunlight, or soil. 

Revolutionary farming is developing new technology that can be used to create new agricultural products. For example, gene editing can be used to improve agriculture through practices like engineering crops that need less water, or cattle that are more resistant to viruses. Farming like this will continue to change the way that farmers grow plants and breed animals. It’s likely that we’ll see more GM products on the market in the future. 

Why Should Farmers Invest In It?

New technology is continuing to increase both the efficiency and yield of farms. Many investors are beginning to realize the long-term effects of this tech is well worth the investment. There’s been a noticeable rise in investments in top agtech solutions like AQM+ Farm Management Software from AQM. This trend is attracting a wide range of investors, from farmers to venture capital firms, who see the potential for significant returns on their investments.

Usually, large corporations play the biggest role in the growth of agtech, as they spend billions on research and development. However, this has caused many of the solutions to be become very expensive, creating tech that farmers simply cannot afford. If this is going to change, then farmers need to organize their own fundraising in the community and start to take ownership of agtech advancements. If they can develop the new tech themselves, then farmers will be the ones to shape the innovation and the future of their industry. 

A good way for farmers to do this is with capital secured through crowdfunding. By raising small amounts of money from multiple investors, farmers can fund their own community-based innovations that actually start on the farm. Crowdfunding sites can also make it much more achievable for farmers to take back control over the technology sector that is beginning to change their business.

Staff Writer; Sherry Jacobs

Speak Your Mind

Tell us what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!