Orange Corners Bangladesh, by the Kingdom of the Netherlands, equips Bangladeshi youth with skills, funding, and resources needed to turn ideas into sustainable businesses.
Sifat, an agri-entrepreneur from rural Bangladesh, was struggling to keep his farming operations afloat. Faced with high-interest loans and a lack of bulk crop buyers, he was on the verge of substantial losses and unemployment.
It was Agronochain, an agri-fintech platform working to empower farmers along with the agri-entrepreneurs, who stepped up.
“We provided him a loan with a much lower interest rate of 8%, allowing him to invest in his farming operations without crippling debt,” said Imtiaz Farhan Bin Habib, Founder and CEO at Agronochain.
This, according to Imtiaz, enabled Sifat to secure funds for his next harvest promptly. As a result, he stabilized his income and began to thrive.
Sifat is one of over 15,000 active farmers benefiting from Agronochain's comprehensive services, which include post-harvest facilities, financial support and direct market access, empowering farmers to thrive in an increasingly competitive landscape.
Bangladesh's agricultural industry has declined, plagued by unfair pricing, limited financing, and poor market access. These challenges motivated Imtiaz and co-founder Khan Muhammad Nafiul Akbar to launch the agri-fintech platform Agronochain.
They set out to transform the sector from the ground up by addressing key challenges including post-harvest losses due to monitoring, physical, and transactional inefficiencies, while optimizing the supply chain and improving farmers' livelihoods.
Imtiaz noted the challenges Agronochain faced in reaching agri-entrepreneurs and farmers, including limited access to finance, market inefficiencies, and knowledge gaps. Inadequate rural infrastructure added to the difficulty, prompting the company to adapt its strategies and focus on empowering agri-entrepreneurs to support smallholder farmers.
Motivation Behind Joining Orange Corners Bangladesh Incubation Programme
Agronochain was part of Orange Corners Bangladesh Incubation Programme and one of the 12 enterprises who successfully graduated from programme in June 2024, and unlocked Track I funding worth €5,000 in September 2024.
According to Imtiaz, the motivation for joining the Orange Corners Bangladesh incubation programme was its strong reputation and alignment with Agronochain's core values.
“The programme offers access to a diverse network of ventures and individuals, enhancing our opportunities for collaboration and growth,” he says.
The founder of Agronochain said they learned about the programme through industry connections and recognized it as an “ideal platform to refine our business model and enhance our impact on the agricultural sector in Bangladesh.”
The Journey with Orange Corners Bangladesh
Since joining the incubation programme, Agronochain has successfully onboarded 15,000 active farmers who managed to realize a remarkable 48% growth month-on-month, even amidst the recent political crisis in Bangladesh.
Imtiaz attributed this success to the training, coaching, and support provided during the incubation programme, stating: “The programme offered exceptional, hands-on training that equipped us with essential skills in business development, allowing us to refine our strategies and operations effectively,” said Imtiaz.
One of the challenges Agronochain was faced with during its initial phase of business was finding the right people. Imtiaz shared that the incubation programme provided effective hiring strategies, helping attract talent aligned with their mission, while also fostering a more collaborative work environment by bridging the gap between employees and management.
Imtiaz noted that the masterclasses on financial management and market access were especially valuable, significantly enhancing their understanding of best practices and innovative approaches in the agricultural sector.
“Overall, the comprehensive support from Orange Corners Bangladesh has significantly strengthened our business model and positioned Agronochain Ltd. for sustainable growth in the agricultural landscape of Bangladesh.”
The Track 1 funding, Imtiaz said, has enhanced their operational capabilities and expanded service offerings. And the training has helped them engage more effectively with key stakeholders, he added.
During the programme, Agronochain forged a strategic collaboration with Supply Line, another graduate from Cohort 2, aimed at streamlining supply chain processes and improving efficiency.
On a personal level, the Agronochain founder noted that the programme enhanced his strategic thinking, enabling him to spot market opportunities and create solutions for agri-entrepreneurs. It also helped him sharpen his leadership and financial management skills.
Bigger Than Just Supporting Farmers
Agronochain aims to improve the lives of farmers while making a broader impact by aligning with key United Nations Sustainable Development Goals, including Zero Hunger (Goal 2), Industry Innovation (Goal 9), and Reduced Inequalities (Goal 10), according to its founder.
Over the next five years, Agronochain aims to improve the agricultural value chain by onboarding 2.5 million farmers, enhancing their livelihoods and contributing to economic stability.
By providing farmers with finance and resources, Agronochain seeks to boost productivity, profitability, and improve the agricultural ecosystem while tackling unemployment.
‘Transformative Experience’
Imtiaz said the experience at Orange Corners Bangladesh Incubation Programme has been transformative. He recommended the programme to future entrepreneurs, highlighting its unparalleled networking opportunities and emphasis on a growth mindset.
“Overall, the programme equips entrepreneurs with the tools, knowledge, and confidence needed to thrive in today’s competitive landscape,” he added.
He advised future entrepreneurs to seize every opportunity and make the most of the resources the programme offers. “First, come prepared with a clear vision and business plan; this will help you maximize the resources available. Engage actively in training sessions and workshops to enhance your skills in areas such as financial management, marketing, and strategic planning. And build strong relationships with your cohort!”
