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Business

Updated on: Friday, November 19, 2021, 11:15 AM IST

Agritech startup Cornext selected for Indo-Israel cohort program

Team Cornext |

Team Cornext |

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Cornxt, an agritech startup that offers low-cost, innovative quality feeding solutions for Indian Dairy Farmers, is one among the seven startups selected from India for the ‘Indo Israel Cohort Program’ jointly launched by Startup Nation Central, Israel, TiE Hyderabad and TiE Israel.

The first cohort of the program will focus on innovations in the agritech sector, and the shortlisted startups will undergo speaker sessions and workshops on sensitization to Indian/ Israeli culture, business culture, perspectives on local market, consumer behavior and exposure to high-growth sectors in both countries.

The first cohort of the mentoring programme includes startups with the potential for social and economic impact. The eight-month program will help startups get access to insights on new technologies, new markets and help in creating new opportunities.

Hyderabad-based agritech startup

Founded in 2015, Hyderabad-based Cornext is focused on building a fodder ecosystem to help Indian dairy farmers with a sustained supply of fodder. India is the world's largest producer and consumer of milk, owing to its massive cattle population. However, milk productivity in India is one of the lowest in the world, mainly due to fodder shortage and lack of preservation techniques. India is home to more than 30 crore cattle, and more than 50 percent of them suffer from severe starvation. Fodder shortage is a major issue in the Indian dairy sector, and this gap in demand and supply will continue to further increase by 2030. Cornext was founded with an aim to address this problem and provide a convenient solution to access quality fodder.

Cornext started out by introducing a disruptive technology called Silage Baling, a naturally fermented, highly nutritious, ready-to-eat green forage packed in the form of Silage Bales by using imported technology. After success with its first product, Cornext decided to take the idea across India by developing India's first indigenous Mini Silage Baler machine through which farmers could produce their own silage. Priced at only 1/10th of the cost of imported machinery, Cornext has made it affordable for any farmer to become a fodder entrepreneur by simply setting up the Mini Silage Baler machine. This approach not only encourages more farmers to become fodder entrepreneurs, but also decentralizes silage production, thereby reducing logistics cost.

Over 200 baling units have now been set up across India, creating a network of rural fodder entrepreneurs. The baling technology developed by Cornext is creating a new age fodder entrepreneurial ecosystem, bringing global technology to local dairy farmers at a very optimum cost. Cornext also offers to buy the silage produced by the rural fodder entrepreneurs, thus becoming the marketing link between fodder entrepreneurs and dairy farmers.

Mobile app to be launched

Cornext is soon launching a first of its kind mobile app “FeedNext” which offers low-cost quality feeding solutions such as baled silage, TMR (total mixed ration), fortified hay, mineral mixtures, feed supplements, etc to dairy farmers. The new e-marketplace ‘FeedNext’ will be a one-stop-shop for all feeding requirements of dairies.

Founded by three first generation entrepreneurs Madhav Kshatriya, Amarnath Sarangula and Feroz Ahmed, Cornext has taken an integrated approach to help dairy farmers. Madhav, an MBA from Australia and a dairy farmer himself has an in-depth understanding of the pain points of a dairy farmer. Amarnath, an IITian, with experience in strategic planning, integrates proprietary baling technology with decentralized rural entrepreneurial ecosystem. Feroz, a logistics expert, brings innovation in low-value-high-volume logistics. Despite not having a background in veterinarian nutrition, the founders bring together complimentary skills to address the most pressing issues confronting the Indian dairy industry.

Madhav Kshatriya, CEO of Cornext, said, “We are excited to be selected for the Indo Israel Cohort program in the agritech category. At Cornext, our overarching goal is to make quality fodder easily accessible to dairy farmers in India. Till date, we have received a tremendous response for our offering, and we will continue to introduce solutions that solve a significant pain point for India's dairy farmers. This recognition further strengthens our commitment to ensure easy availability of affordable and quality fodder for increasing profit margins of farmers and creating livelihood opportunities for the unemployed. We look forward to engaging with other startups in the cohort and learning from key business leaders from India and Israel's startup community”

'Encourage innovation, tech partnerships'

Ranvijay Lamba, Program Co-Chair, Board Member at TiE Hyderabad said, “We are delighted to help some very innovative startups from India and Israel in their journey to make a meaningful difference. The aim of this program is to encourage innovation and technology partnership for startups, and to give them the right mentoring opportunities for guidance on different aspects of the business. After a very rigorous selection process, we have selected 7 startups from India and 5 startups Israel in the categories of Smart Farming, Precision Agriculture and Farm Management offering, Novel & Alternate Foods and Food Tech. The shortlisted startups are already doing some incredible work in their respective areas. We are glad to assist them and provide the required support to grow their business further”

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Published on: Friday, November 19, 2021, 11:12 AM IST
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