One of Accubits’ portfolio companies – MistEO has won the Social Alpha Agritech Innovation Challenge 2.0 supported by the Bill & Melinda Gates Foundation and the Tata Trusts. After multiple rounds of evaluation, MistEO was identified as one of the promising solutions to address the problem faced by smallholder farmers in Uttar Pradesh. MistEO were selected into the final list through a 5-stage process and shortlisted based on Problem-Solution Fit, Social Impact, Technology innovation, Unique Value Proposition, Financials, Sustainability, Operational Scalability, Roadmap, and Team. MistEO is one among 17 startups selected from over 140 aspirants that contested the challenge.
The company was also selected to be a part of the India Agritech Incubation Network (IAIN) powered by Social Alpha. The IAIN is an initiative supported by the Bill & Melinda Gates Foundation and the Tata Trusts, in partnership with the Collectives for Integrated Livelihood Initiatives (CInI) and the Indian Institute of Technology, Kanpur (IIT Kanpur). It envisions creating an enabling ecosystem for innovators and entrepreneurs developing solutions for smallholder farmers in order to help them become more productive, profitable, and empowered.
“We are so happy and excited to be one among 17 startups selected from over 140 aspirants across India. This selection is very significant for MistEO as we grow. We are being offered a unique opportunity to work in an area of significant importance in the agriculture domain. Our Index insurance solution brings weather into the blockchain domain ensuring timely and automated settlement of claims for smallholder farmers.” said Mr. Chacko Jacob, Co-Founder of MistEO.
Social Alpha architecture is built around a not-for-profit platform, Foundation for Innovation and Social Entrepreneurship (FISE) and operates through a nationwide network of technology and business incubation infrastructure, sponsored and enabled by Tata Trusts, Government of India, and a number of academic, philanthropic and corporate partnerships.
About Misteo: MistEO is a computation sustainability company addressing opportunities created by extreme weather. Present-day anthropogenic climate change throws open opportunities to help businesses, organizations, and governments to adapt and be resilient. – both operationally and profitably. Misteo is one of the few companies in the world working in this new and growing discipline focusing on computation and financial mitigation solutions addressed to meet sustainability targets by leveraging our expertise in climate economics, actuarial science, AI, and Spatio-temporal analytics.