{"id":156015,"date":"2021-01-20T06:00:00","date_gmt":"2021-01-20T11:00:00","guid":{"rendered":"https:\/\/www.ict-pulse.com\/?p=156015"},"modified":"2021-01-20T06:15:53","modified_gmt":"2021-01-20T11:15:53","slug":"ictp-138-leveraging-technology-to-provide-micro-investment-to-farmers-with-varun-baker-of-farm-credibly","status":"publish","type":"post","link":"https:\/\/ict-pulse.com\/2021\/01\/ictp-138-leveraging-technology-to-provide-micro-investment-to-farmers-with-varun-baker-of-farm-credibly\/","title":{"rendered":"ICTP 138: Leveraging technology to provide micro investment to farmers, with Varun Baker of Farm Credibly"},"content":{"rendered":"\n

We are launching a new theme for 2021: social impact-focussed tech businesses. In this our first episode of the series, we are highlighting Farm Credibly, a digital co-operative for farms in Jamaica, and are speaking with its Co-Founder and CEO, Varun Baker<\/em>.<\/p>\n\n\n\n

<\/p>\n\n\n\n

<\/iframe><div style=\"font-size: 10px; color: #cccccc;line-break: anywhere;word-break: normal;overflow: hidden;white-space: nowrap;text-overflow: ellipsis; font-family: Interstate,Lucida Grande,Lucida Sans Unicode,Lucida Sans,Garuda,Verdana,Tahoma,sans-serif;font-weight: 100;\"><a href=\"https:\/\/soundcloud.com\/user-673719274\" title=\"ICT Pulse Podcast\" target=\"_blank\" style=\"color: #cccccc; text-decoration: none;\" rel=\"noopener\">ICT Pulse Podcast<\/a> \u00b7 <a href=\"https:\/\/soundcloud.com\/user-673719274\/ictp-138-leveraging-technology\" title=\"ICTP 138: Leveraging technology to provide micro investment to farmers, with Varun Baker of Farm Credibly\" target=\"_blank\" style=\"color: #cccccc; text-decoration: none;\" rel=\"noopener\">ICTP 138: Leveraging technology to provide micro investment to farmers, with Varun Baker of Farm Credibly<\/a><\/div><\/p>\n\n\n\nThis episode is also available in <a href=\"https:\/\/itunes.apple.com\/us\/podcast\/ict-pulse-podcast\/id1373550291\" target=\"_blank\" rel=\"noreferrer noopener\">Apple iTunes<\/a>, <a href=\"https:\/\/playmusic.app.goo.gl\/?ibi=com.google.PlayMusic&isi=691797987&ius=googleplaymusic&apn=com.google.android.music&link=https:\/\/play.google.com\/music\/m\/Icau5acn2xiyl5yjuh7orl2mt54?t%3DICT_Pulse_Podcast%26pcampaignid%3DMKT-na-all-co-pr-mu-pod-16\" target=\"_blank\" rel=\"noreferrer noopener\">Google Play Music<\/a> and on <a href=\"https:\/\/www.stitcher.com\/podcast\/ict-pulse-podcast?refid=stpr\" target=\"_blank\" rel=\"noreferrer noopener\">Stitcher<\/a>!<\/strong><\/p>\n\n\n\nTo a considerable degree, when we think of tech entrepreneurship here in the Caribbean, the achievements and success that individuals, such as Steve Jobs, Elon Musk, Jeff Bezos and Mark Zuckerberg have been able to realise tend to be top of mind. When we think of the brands they represent, they are driven primarily by commercial imperatives, and frequently, profit, market capitalisation, share price, personal wealth, are a few of the metrics against which their success is measured.<\/p>\n\n\n\nIn a completely different vein, when we think about social enterprises, or businesses that are social impact-focussed, charities non-profits and NGOs (non-governmental organisations) may readily come to mind. Typically, there is a sense that they operate on a shoestring budget, with basic staffing, and relying on government subventions or donor support, in order to cover their basic operations, in addition to any programmes or initiatives they wish to implement.<\/p>\n\n\n\nHowever, what does it mean to be a tech business that has specific social objectives that serve it primary purpose? It may take a bit of effort to wrap one\u2019s head around the concept, as it does not necessarily mean those ventures are non-profit. They can be for-profit operations, but have social impact objectives that are core to their operations and underpin their business models.<\/p>\n\n\n\nConsistent with what we have done in previous years, where we explored a podcast theme from varying perspectives over the course of a year, such as the <a href=\"https:\/\/fgd.dfv.mybluehost.me\/.website_c81a1e61\/tag\/future-of-work\/\" target=\"_blank\" rel=\"noreferrer noopener\">future of work<\/a> in 2020, and innovation in 2019, for 2021, we want to delve into the world of tech\/ICT based social enterprises.<\/p>\n\n\n\nIn the early research we conducted to develop a shortlist of Caribbean tech businesses that are socially driven, which could be showcased over the course of 2021, it would appear that the pickings are slim. They are several of ventures or projects across the region in which individuals are engaged on a voluntary basis; but they are not being run as a business. However, we hope we will be able to find at least 12 social impact-driven tech businesses in the Caribbean region that are doing interesting and wonderful things. If by chance you know of a venture that could fit the bill, do send us a note either in the comments section, or via our <a href=\"https:\/\/fgd.dfv.mybluehost.me\/.website_c81a1e61\/contact\/\" target=\"_blank\" rel=\"noreferrer noopener\">Contact Us<\/a> <\/strong>form.<\/p>\n\n\n\nHaving said this, and to kick off our new series for 2021, do allow us to introduce our first guest and the company.<\/p>\n\n\n\n <\/p>\n\n\n\n<h1 class=\"wp-block-heading\">Introducing our guest<\/h1>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"alignright size-large is-resized\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" data-attachment-id=\"156017\" data-permalink=\"https:\/\/ict-pulse.com\/2021\/01\/ictp-138-leveraging-technology-to-provide-micro-investment-to-farmers-with-varun-baker-of-farm-credibly\/varun-baker-v-baker\/\" data-orig-file=\"https:\/\/i0.wp.com\/ict-pulse.com\/wp-content\/uploads\/2021\/01\/Varun-Baker-V-Baker.png?fit=320%2C425&ssl=1\" data-orig-size=\"320,425\" data-comments-opened=\"1\" data-image-meta=\"{"aperture":"0","credit":"","camera":"","caption":"","created_timestamp":"0","copyright":"","focal_length":"0","iso":"0","shutter_speed":"0","title":"","orientation":"0"}\" data-image-title=\"Varun Baker (V Baker)\" data-image-description=\"\" data-image-caption=\"Varun Baker<\/p>\n\" data-medium-file=\"https:\/\/i0.wp.com\/ict-pulse.com\/wp-content\/uploads\/2021\/01\/Varun-Baker-V-Baker.png?fit=226%2C300&ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ict-pulse.com\/wp-content\/uploads\/2021\/01\/Varun-Baker-V-Baker.png?fit=320%2C425&ssl=1\" src=\"https:\/\/i0.wp.com\/fgd.dfv.mybluehost.me\/.website_c81a1e61\/wp-content\/uploads\/2021\/01\/Varun-Baker-V-Baker.png?resize=273%2C363&ssl=1\" alt=\"\" class=\"wp-image-156017\" width=\"273\" height=\"363\" srcset=\"https:\/\/i0.wp.com\/ict-pulse.com\/wp-content\/uploads\/2021\/01\/Varun-Baker-V-Baker.png?w=320&ssl=1 320w, https:\/\/i0.wp.com\/ict-pulse.com\/wp-content\/uploads\/2021\/01\/Varun-Baker-V-Baker.png?resize=226%2C300&ssl=1 226w\" sizes=\"(max-width: 273px) 100vw, 273px\" \/><figcaption>Varun Baker<\/figcaption><\/figure><\/div>\n\n\n\n<a href=\"https:\/\/www.linkedin.com\/in\/varunbaker\/\" target=\"_blank\" rel=\"noreferrer noopener\">Varun Baker<\/a><\/strong>\u2019s experience in applying technology to solve agricultural issues started 10 years ago tackling issues such as the theft of crops and livestock from farms in Jamaica. Benefitting from close interactions with farmers sharing their challenges has provided insights that help to shape the work that <a href=\"http:\/\/farmcredibly.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Farm Credibly<\/a><\/strong> is doing today.<\/p>\n\n\n\nKingston based, Varun Baker has over 15 years of industry experience in business communications and operational management, with a strong focus on software engineering. Varun uses his experience to push forward Farm Credibly as a platform that is driving new ways of approaching agriculture. He sees \u2018agritech\u2019 as the intersection of culture and technology and uses this as an excuse to get out of the office and visit farms more often.<\/p>\n\n\n\nFarm Credibly improves access to finance for underbanked farmers who are productive but want to be more productive. It leverages blockchain technology, as a means to reduce risk and foster alternative credit scoring, in order to provide access to micro investments for underbanked farmers in Jamaica.<\/p>\n\n\n\n <\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Insight into our conversation<\/h2>\n\n\n\nAs much as we might all readily acknowledge the importance of agriculture and food security in the Caribbean region, it is likely we can also understand the concerns traditional financial and lending institutions might have with regard to providing financing to farmers for their operations. Hence, the service Farm Credibly is offering is truly remarkable, as access to capital is a common need among entrepreneurs, particularly tech entrepreneurs, and small businesses. Farmers and MSMEs tend to need funds either to grow their businesses, or to tide them over between when an investment must be made, and when income\/revenue will be generated, which can appear to be a risky proposition for traditional lenders.<\/p>\n\n\n\nHowever, it is interesting to note that Varun did not readily think of Farm Credibly as a social enterprise. Instead, he seemed to be of the view that it is a title the business would earn when its supporting community became bigger or more established. However, by the end of our conversation, he seemed to acknowledge that although Farm Credibly is a for-profit entity, its imperatives are not exclusively that of a commercially-driven entity.<\/p>\n\n\n\nBelow are some of the questions we posed to Varun during the course of our conversation.<\/p>\n\n\n\n<ol class=\"wp-block-list\" type=\"1\"><li>Farm Credibly is a digital co-op for farms, what does that means?<\/li><li>What drove you and your other Co-Founder, Danelia Doyle, to set up Farm Credibly?<\/li><li>What might be some of the risks lenders are concerned about with regard to the agriculture sector, and how does Farm Credibly manage that risk?<\/li><li>In providing farmers with access to finance, from whom is that financing sourced?<\/li><li>How is blockchain being used within Farm Credibly\u2019s operation?<\/li><li>Do you think of Farm Credibly as a social enterprise?<\/li><li>How open was the Jamaican business environment to a venture such as Farm Credibly?<\/li><li>What are some of the KPIs or markers of success that are important to Farm Credibly?<\/li><li>How easy would it be to expand Farm Credibly to other countries?<\/li><li>Where would you like to see Farm Credibly in the next 3 to 5 years?<\/li><\/ol>\n\n\n\n  <\/p>\n\n\n\nWe would love to hear from you!<\/strong><\/p>\n\n\n\nDo leave us a comment either here beneath this article, or on our <a href=\"https:\/\/www.facebook.com\/ICTPulse\/\" target=\"_blank\" rel=\"noreferrer noopener\">Facebook<\/strong><\/a> or <a href=\"https:\/\/www.linkedin.com\/company\/ict-pulse-consulting-limited\/\" target=\"_blank\" rel=\"noreferrer noopener\">LinkedIn<\/strong><\/a> pages, or via Twitter, <a href=\"https:\/\/twitter.com\/ICTPulse\" target=\"_blank\" rel=\"noreferrer noopener\">@ICTPulse<\/strong><\/a>.<\/p>\n\n\n\n  <\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Select links<\/h2>\n\n\n\nBelow are links to some of the organisations and resources that either were mentioned during the episode, or otherwise, might be useful:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.linkedin.com\/in\/varunbaker\/\" target=\"_blank\" rel=\"noreferrer noopener\">Varun Baker<\/a><\/li><li><a href=\"http:\/\/farmcredibly.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Farm Credibly<\/a><\/li><li><a href=\"https:\/\/www.slashroots.org\/\" target=\"_blank\" rel=\"noreferrer noopener\">SlashRoots Foundation<\/a><\/li><li><a href=\"http:\/\/dbankjm.com\/ignite\/\" target=\"_blank\" rel=\"noreferrer noopener\">Development Bank of Jamaica Innovation Grant from New Ideas to Entrepreneurship (IGNITE) Innovation Grant<\/a><\/li><li>Jamaica Observer article, <a href=\"http:\/\/www.jamaicaobserver.com\/news\/farm-credibly-jamaican-tech-company-assists-farmers-through-crowdfunding_173178\" target=\"_blank\" rel=\"noreferrer noopener\">Farm Credibly \u2014 Jamaican tech company assists farmers through crowdfunding<\/a><\/em><\/li><\/ul>\n\n\n\n  <\/p>\n\n\n\n  <\/p>\n\n\n\nImage credits: V Baker; <a href=\"https:\/\/commons.wikimedia.org\/\" target=\"_blank\" rel=\"noreferrer noopener\">Wikimedia Commons<\/a><\/em><\/p>\n\n\n\nMusic credit: Ray Holman<\/em><\/p>\n\n\n\n  <\/p>\n","protected":false},"excerpt":{"rendered":"We are launching a new theme for 2021: social impact-focussed tech businesses. 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