- Three solutions developers awarded grants at UnionBank’s Agritech Pitch Fest
- Each proposal underwent a rigorous judging process and was reviewed by a panel consisting of technology and agriculture experts
An offshoot of its advocacy to “tech up” the Philippines as it pushes for financial inclusion towards inclusive and sustainable prosperity, Union Bank of the Philippines is also holding activities aimed at helping the agriculture industry become more sustainable.
In line with its Tech Up Agri initiative, UnionBank recently held a pitch fest where groups from various places nationwide presented solutions geared towards improving the agriculture industry in the country.
During the event held last month at The ARK – the Philippines’ first fully digital bank branch located in Makati City – numerous groups presented agriculture-related solutions that ranged from e-commerce platforms that are farmer-oriented, to tools that help improve yield, to advocacies that promote sustainable farming practices even outside of farms.
Each proposal underwent a rigorous judging process and was reviewed by a panel consisting of technology and agriculture experts.
“The diversity of the solutions presented was very interesting, and the ability of these young people in startups to come up with new things is always impressive,” UnionBank Senior Vice President and Head of Platform Development Mon Duarte said.
Winning the grand prize is Agrabah, an e-commerce platform that links farmers directly with end buyers such as hotels and restaurants, eliminating the need for middlemen in the whole supply chain and in turn improving the bottom line for farmers who use the platform.
Aquosense, an agritech solutions firm that developed a software-linked sensor that assesses the quality of water in shrimp ponds, was first runner-up, while e-Magsasaka, another agriculture e-commerce developer, was second runner-up.
While not a winner in the pitch fest, Green City, whose offering involves organizing classes on how to grow edible crops in the city and providing starter kits for growing crops using any space, was invited by the bank to participate in one of its sustainability programs called Beyond Communities – which aims to create positive change among various sectors.
“The reason why UnionBank is holding these pitch fests is because we want to encourage stakeholders to come up with solutions that ultimately benefit farmers, and help make the industry more sustainable,” said UnionBank Executive Vice President and Head of Transaction Banking John Ong. “After all, agriculture is one of the most important industries in the country—it’s the biggest reason why we have food on our tables.”
