| eFarm / Matchbox Solutions | 2007 |
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venkata Subramanian | Chennai | Agribusiness/
Agriculture
Nominated on Oct 23 2008 9:31AM | by
Venkat Subramanian
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| eFarm / Matchbox Solutions - Snapshot |
| Organizing the unorganized agri sector |
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| Business Basics |
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| Company Name |
eFarm / Matchbox Solutions |
| Founded in |
2007 |
| Headquartered in |
Chennai |
| Company website/URL |
www.matchboxsolutions.in |
| Industry |
Agribusiness/
Agriculture |
| Stage of the company |
Scaling up |
| Source of idea |
Developed family or friend?s idea |
| Awards & honors |
None yet |
| Partnerships & Tie-ups |
Farmers associations of Tamil Nadu, Farmers market (Theni, Hosur) , Organic farmers association, TN
Tamilnadu Agricultural University (guidance & lea...> Read more.. |
| Partnerships & Tie-ups |
Farmers associations of Tamil Nadu, Farmers market (Theni, Hosur) , Organic farmers association, TN
Tamilnadu Agricultural University (guidance & leads), Indian bank Microsate II, Nivedita NGO, Montforth Community Development services (NGO)
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| Business description |
| eFarm is a network of farmers, intermediaries, logistics providers, distributors and retailers, which has been formed, to procure vegetables and fruits direct from source and deliver them at low costs to consumers in the cities.Currently, over 95% of agricultural produce reaches the end consumer through unorganized and unregulated marketing channels, which ...> Read more.. |
| eFarm is a network of farmers, intermediaries, logistics providers, distributors and retailers, which has been formed, to procure vegetables and fruits direct from source and deliver them at low costs to consumers in the cities.Currently, over 95% of agricultural produce reaches the end consumer through unorganized and unregulated marketing channels, which is the primary reason for high price fluctuations, wastage, unreliability and poor quality. eFarm is working on 'organizing' this 'un-organized' rural to urban supply chain and create an easy, economical and efficient sourcing and distribution network. This ensures better prices for all members in the chain. For details : http://www.matchboxsolutions.in/eFarm.html
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| How does the business make money? |
| Being a perishable commodity, vegetable sales have traditionally been cash & carry. We have taken it one step further, and have even started advanced payment model to ensure buy-in from customers and lock in best prices by advance payments to farmers. We are a pay-per-use transactional platform where all stakeholders are paid/receive payment on item procured or service rendered. |
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| Team information |
Our team is a combination of expertise, street level knowledge, formal educational background and fresh talent. Venkat Founder/CEO : UG- IIT, Kharagpur (B.Arch) , PG - MS (Computer Science) from Univeristy at Albany, NY. Venkat has over 12 years experience in IT in several leading Indian Software Consulting firms. He has managed several prestigious multi million dollar accounts in Insurance and Capital markets segment. He has very strong experiences in developing complex systems, consulting and mentoring young teams.
Yamuna : M.Phil , MS,B.Sc B.Ed . Retired from Yamuna has been associated with media and has headed several key roles in Doordarshan Kendra for over 35 years. She oversees the public relations, customer relationships and coordination with NGOs/self help groups.
Sankara Krishnan is a serial entrepreneur, well versed in most rural industries and agriculture based operations. He has indepth knowledge on logistics and transportation industry, having worked with several leading operators. He currently handles all sourcing and logistics operations of eFarm.
We have a panel of experts, retired-former executives who offer consultancy on specific areas/domains on as needed basis. |
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| Competition |
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| Competitors |
Our competitors are currently handling one or more areas of the entire supply chain problem space, for.e.g ITC e-Chaupal, SAFAL/SNX, Branded agri retail outlets like Reliance fresh, commission agents in local mandis/wholesale markets. |
| How different is your product or service? It has... |
No substitutes available |
| In what way is your product or service different? |
There is no reliable rural to urban supply chain & distribution system in India. We offer a single platform which connects all stakeholders into a sha...> Read more.. |
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| By The Numbers |
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2006 |
2007 |
| No. of employees |
Did not exist |
0-5 |
| No. of locations |
Did not exist |
0-1 |
| No. of customers |
Did not exist |
16-50 |
| Turnover |
Did not exist |
Under 10 lacs |
| Profits |
Did not exist |
breakeven |
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| Primary source of initial funding |
Personal savings |
| Primary source of additional funding |
Family & friends |
| Raised institutional capital? |
No |
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| Why is this startup hot? |
Rising vegetable prices and deteriorating farmers condition is a double edged sword. It needs lot of focus, passion, drive and hardwork to help fix this issue. We feel we have the right talent and attitude to move the mountain. We believe that to meet any social objective it is vital to also bring in a business objective to help achieve sustainable resul...> Read more.. |
Rising vegetable prices and deteriorating farmers condition is a double edged sword. It needs lot of focus, passion, drive and hardwork to help fix this issue. We feel we have the right talent and attitude to move the mountain. We believe that to meet any social objective it is vital to also bring in a business objective to help achieve sustainable results. We believe that 'Small drops make an ocean' and can reach and include even the smallest of supplier/buyer through the network and build volume.
It is highly entrepreneur driven and promotes self employment through SHG/microfinance at all levels. We are not re-inventing the wheel, just connect the dots/spokes in existing infrastructure & models to achieve our goals. We adapt and adopt technology to suit the needs and requirements of our smallest to our largest of customers to use the system with equal ease.
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| What keeps the team awake at night? |
Our late night delivery trucks and early morning distribution operations!
We have 1.2 billion customers to feed and miles to go before we sleep. Being a one stop shop from farmers to end consumers, we need to work 24x7 to beat the clock, meet the quality and price levels. The constant challenge and daily lessons learnt keeps us motivated to keep slogging towards our end goal one day at a time! |
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| Entrepreneur's Details |
| Name |
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venkata Subramanian |
| Age |
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36 |
| Hometown |
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Chennai |
| Family background |
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First gen entrepreneur |
| More than 1 company? |
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No |
| Education |
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Masters |
| Graduated from |
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IIT |
| Former employer |
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Wipro |
| Former designation |
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Program Manager |
| Area of responsibility |
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Insurance, Capital markets |
| Favorite book/movie |
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Bhagavad Gita |
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| Voting Closed |
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| “The company is in a great space of agriculture,The company has a clear market at present.......” > Read more.. |
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| “It's an innovative approach......” > Read more.. |
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