Globally, women represent nearly half of the agricultural workforce, yet they still face systemic barriers that prevent them from accessing, using and contributing to innovations in agricultural technology (Agritech), which is poised to transform agricultural systems across the world.
A recent World Economic Forum insight report, Agritech for Women Farmers: A Business Case for Inclusive Growth, shows how tailoring products to women farmers creates growth opportunities and strengthens business profiles while advancing equity initiatives.
Agritech and Women Farmers
The report details the rise of Agritech over the last ten years from the farm level (where Agritech can monitor the condition of crops, weather, and pests) to the supply chain level (where it can create efficiency and resiliency in existing systems). Agritech promotes tangible profit increases and expenditure decreases for agribusinesses.
Women have faced a myriad of challenges in accessing Agritech and have generally been excluded from its innovation and development. These barriers are twofold. Firstly, demand-side challenges such as sociocultural, literacy or financial barriers prevent women from accessing and using technology effectively. Secondly, supply-side challenges hinder businesses by making women-specific data, initial acquisition costs and women leaders in agribusiness difficult to access.
Past gender-inclusivity initiatives in Agritech have focused on social policy, often overlooking the significant business opportunities that arise from engaging women farmers in product innovation and marketing.
The 5Ps Framework
Agritech providers are encouraged to adopt what the report terms the "5Ps Framework" to overcome current gender-inclusivity challenges and unlock future opportunities:
- Product: Tailor solutions to the unique needs of women farmers.
- Price: Ensure affordability and accessibility to drive adoption.
- Promotion: Use trusted channels and highlight success stories.
- Place: Deliver solutions in locations and formats that overcome mobility barriers.
- People: Increase women in frontline roles and build women farmers’ capacities.
The report provides tangible action items for each step of the framework that Agritech businesses can readily implement.
Insights
Agribusinesses that integrate gender-inclusive strategies into Agritech may be better positioned to capture growth and stay competitive. Implementing the 5Ps Framework, in whole or in part, can help agribusinesses focus and streamline their efforts to increase gender-inclusivity in all aspects of their business. It may also provide new, and relatively untapped, markets for Agritech products. The 5Ps Framework provides tangible steps for agribusinesses to access these markets.
Our Food and Agribusiness and Capital Markets teams advise agribusiness companies, innovators, and investors on strategies that unlock opportunity while managing risk. If your business is exploring how to align growth with inclusivity, our team can guide you through the intricacies of these processes. Contact one of the authors for more information.
