Farmers Earning a Steady Income with the Help of This Startup


Date & Time: 2020-03-13 12:32:41

Crowdfunding is the practice of funding a project or venture by raising money from a large number of people who contribute a relatively small amount to raise awareness about everything from social issues, natural disasters, urgent requirements of those in need, and even business ideas. In a recent case, a young duo from Karnataka is using the concept to help farmers in the state by helping them earn a steady income and eliminating middlemen. Fundmycrop, which was started by 23-year-old Nithin Bhat and Sharath, a 24 years old guy who aims to combine a subscription-based advance payment model with crowdfunding to not only help urban families and millennial connect with farmers, but to also enable the latter to earn assured salaries for their fruit and vegetable crop. How Fundmycrop is working? If a farmer has an acre of land and can grow 10,000 kilos of tomatoes, this information will be made available on Fundmycrop. “If you want to buy five kilos, you pay for that much in advance. Similarly, someone else can book two kilos. This way, we hope to ensure that the entire 10,000 kilos have takers”, Sharath explains how it will work. “This is called advance buying,” adds Nithin. “You are helping the farmer grow what you require.”