April 24, 2015
FarmX CEO and cofounder Sanjay Rajpoot was cited in a recent VentureBeat article that discussed ‘How Technology can Solve California’s Drought.’
Rajpoot was quoted several times:
Sanjay Rajpoot, CEO and Co-founder of FarmX, believes the future lays in enabling agriculture to enjoy the manufacturing efficiencies other industries achieved decades ago.
“Agriculture is one of the vast greenfield opportunities where there has been a pervasive distrust of technology and lack of connectivity,” says Rajpoot. “The depletion of water, upon which the $50 billion California industry depends, creates an innovation imperative that will move the whole industry forward.”
Getting over the barriers
There are three core areas that discourage innovation and adoption of emerging tech in agriculture:
- Low risk tolerance
- Lack of confidence in the solution
- Legality questions (primarily for drones)
- It’s often difficult for startups to acquire early customers, build case studies, and get traction, particularly if they have little formal agricultural experience or relationships.
“Farmers cannot tolerate the downside risk that an investment may fail to deliver, so they will wait until the benefits of a solution are precisely known before committing capital,” points out Rajpoot.