AgRisk – agricultural risk assessment

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AgRisk – agricultural risk assessment

HondurasGruenstadt, Germany
Organization type: 
for profit
Project Stage:
Start-Up
Budget: 
$1,000 - $10,000
Website:
http://www.luvmicrofinance.com
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Project Summary
Elevator Pitch

Concise Summary: Help us pitch this solution! Provide an explanation within 3-4 short sentences.

The best tool to evaluate rural sector’s risk and to encourage Financial Institutions to finance it.

About Project

Problem: What problem is this project trying to address?

Lack of rural sector’s funding. Reduce the risky perception of financial institutions to rural sector. Improve the evaluation of risks and costs of agricultural producer and establish accordingly prices to the applied credits. Accelerate the appliance and expenditure’s process.

Solution: What is the proposed solution? Please be specific!

The software allows to globally analyzing risks that agricultural producers deal with: 1. Particular risks (environmental, personal, economic, financial) 2. Systemic risks (soil and climatic, marketing)
Impact: How does it Work

Example: Walk us through a specific example(s) of how this solution makes a difference; include its primary activities.

Watch presentation: http://prezi.com/hbkt1x3e-xef/agrisk-2/ The system has the following potential uses: - Calculate an adjusted risk rate for each agricultural producer. - Exchange system to register potential clients, evaluate and approve credits.
Sustainability

Marketplace: Who else is addressing the problem outlined here? How does the proposed project differ from these approaches?

I don’t know any direct competitor.
Team

Founding Story

The system came up after winning a tender in AHIBA (Banks Association of Honduras), for a project financed by the IDB. We won because we offered the most innovative solutions for the TDRs requested. We realized then, that we could incorporate more functions to the project and evaluate in a more efficient way, by joining different apps in a single tool. All programmed in a modern language and a versatile platform.
About You
Organization:
LUV Microfinance
About You
First Name

Rodolfo

Last Name

Monsberger

About Your Organization
Organization Name

LUV Microfinance

Organization Country

, RP, Gruenstadt

Country where this project is creating social impact
How long has your organization been operating?

1‐5 years

Has the organization received awards or honors? Please tell us about them

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Innovation
How long have you been in operation?

Operating for less than a year

Which of the following best describes the barrier(s) your innovation addresses? Choose up to two

Access, Quality.

Social Impact
Please describe the goal of your initiative; outline what you are trying to achieve

- Increase the rural producers’ credit access.
- Reduce the risky perception of financial institutions to rural sector.

Which barrier(s) to financial inclusion does your solution seek to address? (select all applicable)

Physical and other accessibility obstacles that prevent communities from reaching financial services, The lack of affordable financial products tailored to the needs of underserved and excluded communities,, Powerful incentives for financial service providers to move up-market, Other (Please describe below).

If you selected 'other' above, please specify which other barriers to financial inclusion you solution seeks to address:

Achieve a specific “pricing” for agricultural producers, according to their particular risk profile.

For which underserved or excluded communities will your solution create access to valuable, affordable, secure and comprehensive financial services?

For every rural community with agricultural production.

Could your solution work in other geographies or regions? If so, where?

In any region. The software is suitable for every continent.

If your solution is dramatically successful, how will things be different in 10 years?

Obtain more funding for agricultural producers.
Better agricultural producers’ quality of life.
Higher production and basic food basket’s lower prices.
Significant increase of rural credit’s portfolios in financial institutions.

What will have had to have changed to make this happen?

Something that is already changing fast: tablets and technology in general, are reducing their prices to be a mobile and versatile tool.

What has been the impact of your solution to date?

It is operating in two Banks, Banco de Occidente and Banhcafe in Honduras. The Project is in a pilot stage. We want to improve it and extend it functions, to make it more attractive.

What is your projected impact over the next five years?

I can’t actually estimate that, it will depend on getting financing to continue and improve the prototype.

What barriers might hinder the success of your project? How do you plan to overcome them?

Financial: get financing to develop a new extended version. Keep on taking part in events like this one.
Project’s marketing: it is again, a matter of financing.

Winning entries present a strong plan for how they will achieve and track growth. Identify your six-month milestone for growing your impact

Our priority is to develop an extended and improved version of the software. This task will take 6 months.

Identify three major tasks you will have to complete to reach your six-month milestone
Task 1

conseguir financiamiento

Task 2

dirigir y coordinar el desarrollo del software mejorado

Task 3

marketinear el producto con entidades interesadas

Now think bigger! Identify your 12-month impact milestone
Identify three major tasks you will have to complete to reach your 12-month milestone
Task 1

conseguir al menos 2 entidades interesadas en la implementación del sistema

Task 2

establecer indicadores de impacto

Task 3

realizar seguimiento personalizado de la implementación

Sustainability
Tell us about your partnerships

BHP is a the selected software company to develop the improved version
http://www.bhp-global.com
AHIBA

Are you currently targeting other specific populations, locations, or markets for your innovation? If so, where and why?

The pilot is only operating in the banks mentioned before.

What type of operating environment and internal organizational factors make your innovation successful?

Available information in tablets.
Evaluate the risk profile of the agricultural producers in their own productive unity.
Obtain an adjusted risk rate for each producer. The greater the risk, the greater the interest rate and vice versa.

Please elaborate on any needs or offers you have mentioned above and/or suggest categories of support that aren't specified within the list

We need $ 100,000 to finance the software’s development and another $ 100,000 to make it work.