India as an emerging drone hub has witnessed the transforming technology at a rapid rate over the last decade. IoTechWorld Avigation Pvt Ltd. is one of the fast growing startups that focuses on developing drones with latest technologies including AI/ML features and sensors.
Deepak Bhardwaj, Director and Co-Founder, spoke exclusively to IBT about company’s vision and how the company is planning to create drones for applications in sectors like Agriculture, Survey and Logistics.
Photo Credit: Deepak Bhardwaj
IBT: As a successful startup, what propelled you towards drones? What is your vision and growth strategies for this venture?
Deepak Bhardwaj: IoTechWorld was set by two partners, me and Mr Anoop Kr. Upadhyay with a vision to create something hi-Tech, technologically advanced and which would help nation and people. Since drone is an emerging sector and holds lots of scope in business, we thought of creating technologically advanced drones for agriculture, which would assist the farmers and would help ease their day to day challenges.
Our future mission is to build drone ecosystem, create technologically advanced, affordable drone solutions and to emerge as the largest leading drone manufacturing company in the world.
IBT: What major farmer challenges is your company addressing through its product offerings? What differentiates you from your competition?
Deepak Bhardwaj: If we look at current scenario, agricultural land per farmer is shrinking and liability of a farmer as an individual is increasing. To combat this issue, we are creating an Agri-Entrepreneurship model through which a farmer can manifold his income with available resources.
With this model we are saving farmer’s resources, since a drone takes about 7 minutes to spray on one acre and takes 10 liters of water which would conventionally take 2 hours and up to 500 liters of water. Moreover, as harmful pesticides can be sprayed by drones, it protects farmer from exposure to any chemicals, also assuring that the quality of crop improves as drone gives 100% uniform spray coverage.
We are pioneer in the drone segment and we got first Type Approval from Directorate General of Civil Aviation (DGCA) in India. Over the years, we have built a very strong connect with farmers and Agri-Entrepreneurs across India and our intent is to make farmer prosperous and advanced.
IBT: How do you plan to scale your business and diversify your product portfolio? Do you have ambitions for exploring the international market? Please elaborate.
Deepak Bhardwaj: Firstly, we are developing all components of drones in India. Very soon, we are planning to launch our next model of AGRIBOT, which will be 6th generation of AGRIBOT. Eventually, by the end of 2023, our AGRIBOT will have 95% Indian components. Our next product series is related Precision Agriculture which will have many kinds of solutions for different crops.
We do plan to target international markets and are under process of creating our base in the selected countries which will be ready by end of 2024. We will launch our products which will be more than 90% made in India. We are also ready for competition in prices and would be delivering high quality products.
IBT: How has government recognition played a role in your success? What are your key challenges – getting components, licensing etc and support expected from the government?
Deepak Bhardwaj: Having Department for Promotion of Industry and Internal Trade (DPIIT) is helpful in Trademark and other IP registrations. It has helped us on Government e Marketplace (GeM) and some tenders also.
As of challenges, there are many areas where one startup faces challenges while growing. Initially, some items need to be imported so, custom is a very big issue. The procedure of the custom can be tiresome and demotivating for some startups. In our case, authorities stopped honoring the HSN codes created for drones, and consistency in such matters will help significantly.
IBT: Lastly, any suggestions or tips you would like to share for new entrepreneurs who wish to enter into this growing field?
Deepak Bhardwaj: An emerging startup should ideally focus on starting something after doing complete market analysis. A company should not be started for making something just out of curiosity or hobby. Most importantly, a startup should focus on creating only those things which has demand. Most importantly, one should also check cost to price ratio. If all is good, then go aggressive and don’t look back for at least 3 years.
