Novi Sad, Serbia
Established in 2019
Cropt is an innovative startup that develops data-driven solutions for high-tech agriculture. It was founded as a spin-off from BioSense Institute, the EU’s Centre of Excellence for application of IT in sustainable agriculture. The team has so far won many prestigious awards, such as the 1st prize at Syngenta Crop Challenge and the award at CGIAR Inspire Challenge, that secured Bill and Melinda Gates Foundation support for developing scalable AgTech solutions for African agriculture. Cropt has also won the Serbian Innovation Fund grant for developing a smart system for optimising the sowing strategy, that has the potential to increase farmers’ profits for 30% while simultaneously reducing the risk for 10%. We believe that using big data and state-of-the-art machine learning algorithms, agriculture can become greener and more profitable at the same time, for the welfare of farmers, companies, our society and our planet.
CROPT & BlockStart
Due to the lack of trust and complex bureaucracy, crop insurance is one of the least popular types of insurance. In Western Europe, only 30% of fields are insured, while this number is even lower in the East (10%). ALLIANCE aims to disrupt the traditional value chain and replace insurance companies with cooperative insurance schemes. Satellite images, IoT and climate records are widely available and allow us to accurately predict the yields and verify the claims in an objective and transparent way. The heart of the system is the Farmers Common Fund to which farmers will allocate a certain percentage of their yield. Upon the end of the season, they will receive the yield from the Fund proportional to their contribution. The project is based on Big Data coming from satellites, IoT devices placed in the field, drone images and climate records. Using advanced machine learning and image processing techniques, we are able to detect the damages, validate the claims and precisely estimate both the area affected by the damage and the yield that the farmer would achieve if there had not been the damage. All data is recorded in the ledger and the smart contracts are triggered immediately after the damage is confirmed, thus cutting down the payout time from a few months to a couple of days. In this way, farmers are sharing the risk with one another, paying lower premiums, getting instant payouts and relying on objective parameters for loss adjustment.
Meet the team
Oskar Marko, PhD (co-founder, CEO) has a background in data science. He developed the system for optimisation of farmers’ sowing strategies that is Cropt’s core technology and won them the 1st prize at Syngenta Crop Challenge.
Sanja Brdar, PhD (co-founder, CTO) has a background in big data analytics. Her algorithms based on data fusion and deep learning helped develop a variety of systems from different fields, ranging from HIV estimation based on mobile data analytics to yield prediction based on satellite image processing.
Milan Ignjić (data analyst) is an expert in the field of data science. He graduated from University of Novi Sad as the best student of his generation and his work in Cropt focuses on evolutionary optimisation and image processing based on deep learning.
Igor Trpovski (software developer) is an expert in the field of data-driven software development. After gaining industrial experience after his studies of electrical engineering at University of Novi Sad, he joined Cropt, where he is developing the system for yield prediction based on climate, soil and field data.
Funding received under BlockStart: € 1,000 (Ideation Kick-off)