In 2021, we are honored to be selected as a key participant in the prestigious GRAFT Challenge Vietnam—a program dedicated to addressing the country's pressing agricultural challenges. Today, the impacts of that participation continue to influence our growth and innovation across Southeast Asia.
Vietnam remains one of the world's leading agricultural nations, ranked as the second-largest exporter in Southeast Asia and the 15th globally (PRD: 2024). However, in recent years, the agricultural sector has continued to grapple with challenges from climate change, market volatility, and unsustainable practices that strain land, water resources, and producer livelihoods (Graft: n.d.). The report estimates that without proper adaptation and mitigation measures, climate change will cost Vietnam about 12-14.5% of GDP a year by 2050. (Hanoi Times: 2022). Our involvement in the GRAFT Challenge sought to address these long-term challenges by championing innovative, sustainable agricultural practices.
Responding to the growing need for sustainable agriculture, we are proud to be selected for the GRAFT Challenge Vietnam 2021, an initiative that continues to resonate today. The program provided tailored support to global innovators entering the Vietnamese market, with a strong emphasis on enhancing access to quality production inputs (Hanoi Times: 2021). By focusing on improving access—particularly for women producers—the program aimed to promote both profitability and long-term sustainability for Vietnam's agricultural sector.
The 2021 cohort of GRAFT Challenge Vietnam included innovative companies from across the globe, such as Tepbac from Vietnam, AgNext and Cropin from India, JalaTech from Indonesia, and ListenField from Thailand. These scale-ups participated in GRAFT's 15-week program, which provided customized support and guidance from a network of local experts to help validate their technologies. The program culminated in a week-long roadshow, where the scale-ups presented their solutions to leading Vietnamese agricultural corporations. Together, these entrepreneurs were committed to driving meaningful change and transforming the agrifood landscape in Vietnam and beyond (Far Eastern Agriculture: 2021).The program's mission—to transform Vietnam's agrifood sector—remains as relevant as ever, and the ripple effects of these innovations continue to shape the region's agricultural landscape today.
One of the critical challenges we tackled was the limited access to funding for smallholders, a persistent issue caused by Vietnam's underdeveloped rural financial services infrastructure. KoltiPay, our innovative e-wallet feature, was introduced to address this need, providing a cashless payment solution with enhanced transparency and split-payment options for rural producers. KoltiPay has not only increased financial visibility but also paved the way for KOLTIVA's broader ecosystem of products, offering comprehensive support for smallholders to achieve financial and agricultural sustainability.
With GRAFT's support, we established several strategic partnerships in Vietnam's financial services sector, laying the foundation for pilot schemes that continue to guide our fintech solutions today. By focusing on understanding market needs and local characteristics of agricultural specialties, as well as improving loan accessibility for producers, we identified key sectors, such as tropical fruits and coffee, as strategic areas for entry and expansion (Graft: n.d.).
To explore how our products can support your needs and drive sustainable growth, talk to our experts! Connect with us to learn more about tailored solutions that can transform your agricultural operations.
Resources:
Far Eastern Agriculture. (n.d.). Nine agritech scaleups to take part in GRAFT Challenge Vietnam 2021. Retrieved from https://fareasternagriculture.com/crops/processing-a-storage/nine-agritech-scaleups-to-take-part-in-graft-challenge-vietnam-2021
GRAFT Challenge. (n.d.). GRAFT Challenge Vietnam. Retrieved from https://www.graftchallenge.com/graft-supports-koltiva-in-deploying-tailormade-agritech-solutions
Hanoi Times. (2022). Climate change may cost Vietnam 14.5% of GDP by 2050: WB. Retrieved from https://hanoitimes.vn/climate-change-may-cost-vietnam-145-of-gdp-by-2050-wb-321285.html
Hanoi Times. (n.d.). International agritech helps solve Vietnam’s pressing challenges in agriculture. Retrieved from https://hanoitimes.vn/intl-agritech-helps-solve-vietnam-pressing-challenges-in-agriculture-320491.html
Organisation for Economic Co-operation and Development (OECD). (2021). Innovation, agricultural productivity and sustainability in Viet Nam. Retrieved from https://www.oecd.org/en/publications/innovation-agricultural-productivity-and-sustainability-in-viet-nam_9cc1f47a-en.html.
Writer: Kumara Anggita, Content Writer
Editor: Daniel Prasetyo, Head of PR and Corporate Communication
About Writer
Kumara Anggita, serving as Koltiva's dedicated Content Writer, brings a wealth of experience from her six-year tenure in journalism in the fields of humanities and lifestyle, as well as her role as a writer in the tech industry. Her deep-rooted passion for gender equality and sustainability spurred her to enhance her reporting and storytelling skills through the EmPower Media Bootcamp by UN Women. Now, Kumara utilizes her platform to advocate for sustainable practices and gender equality through her compelling writing.
Comentários