Leli Mulyani
IPMI International Business School
Amelia Naim Indrajaya
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iGrow Preserving Life Through Impactful Investment
The name iGrow came from the expression “I Grow” that means the invitation to grow our own plants. iGrow helps people grow by attending their lack of resources and knowledge about the agricultural business, by connecting farmers and land owner and/or investors, and also the buyers.
Recently, iGrow has collaborated with almost 2,200 farmers, 19,284 members, optimizing non-productive land planting 10 million trees using syariah (Islamic non usury profit sharing method). They are also preserving the environment while doing the business activity by optimizing the use of land, which leads to reduced carbon dioxide.
iGrow developed a platform that can connect farmers, landowners, investors, and crop buyers to create a complete farming supply chain. Investors can choose which product they want to invest in. They also can see online their investment's progress.
iGrow also created a new business process. In the past, farmers usually used the land based on their traditional knowledge without considering the market demand. iGrow finds the buyer first, so that farmers can plan their crops based on market demand, avoiding products that can’t be sold. This step also prevents the price decrease due to the over production during harvesting period.
Furthermore, the company supports skills development through a place they called “Madrasah (school)” to educate not only traditional farmers but also bachelor degree students who have an interest in agriculture. There individuals learn not only about the plants (existing or new) but also about their life cycle. Finally, Madrasah graduates can also become iGrow business partners in the future, whether as a farmer or in the business.
Endowed with tropical climate, Indonesia is one of southeast Asian countries that has plentiful of natural resources including biodiversity, fertile soil, and ample extensions of land. On the other hand, Indonesia still is a large importer of agricultural commodities. The farmers' lack of skills and capital has caused high production costs.
iGrow's motivation is to have a business that can help underemployed farmers, under-utilized land, and investors to produce high-quality organic food and sustainable income with cloud-based agricultural management software. iGrow has a mission that is far beyond just commercial purpose, which is to preserve life. It is committed to change the paradigm about the opportunities of the agricultural sector, especially for the young population.
iGrow's business is a novelty in Indonesia since it is using technology to develop a traditional business to become more valuable. Land and people can be more productive and the quality of the agricultural produce is already improving. In addition, betterment of farmers' quality of life will be impacting the Indonesian economy as a whole. The company also contributes to environmental preservation with 358,976 tons of carbon dioxide absorption from the cultivation of 10,329,067 plants and the preservation of national food security in the long run. Nowadays, they are also opening their business to foreign investors.
iGrow's technology can also inspire other innovations in the agriculture sector in the future. According to iGrow's chairman, they have not fully optimized the technology implementation yet. There will still be major developments that can be implemented, such as technologies to find new markets and buyers.
iGrow's business benefits simultaneously the farmer and investors using syariah profit sharing method (iGrow gets 20%). Information technology also helps the business to grow not only in Indonesia but also internationally.
Buyers can get high quality food products with delivery certainty.
Utilizing land that will impact the air quality by reducing carbon dioxide (CO2).
iGrow helps the government to preserve the national food security and increase job opportunities .
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