January Recap: A great start of 2020 with Bayer, MIT, and Danamas!
We are happy to share that HARA started 2020 off with a bang! From hosting our team from MIT, to disbursing our first round of microfinancing with Danamas, and partnering with Bayer, here are some of our recent exciting highlights:
MIT G-Lab Internship
This month, we had the pleasure of welcoming four second-year MBA students from the Massachusetts Institute of Technology (MIT) Sloan School of Management to our Jakarta office.
For the fourth year in a row, HARA was hand-picked to participate in MIT’s Global Entrepreneurship Lab (G-Lab), in which a group of their top students spend their time to assist selected companies to help them scale their businesses to generate both an economic and social impact. This year’s internship program started in September last year in Boston (USA), with a focus to finetune our growth strategy in both operations and token economics, as well as explored potential revenue opportunities in the upcoming years. During their time here, we had several sharing sessions with the MIT team to exchange ideas and thoughts on specific topics, which was a fun learning opportunity for all of us!
Bayer Partnership
The firm belief that data knowledge helps to achieve the mission of increasing smallholder farmer’s welfare, brings HARA and Bayer together to form a partnership, with plans to provide access to sustainable agricultural solutions to increase overall agricultural productivity. Widely known as one of the major players in the agriscience industry, Bayer aims to provide 100 million farmers in developing countries with access to innovations, knowledge, and partnerships to boost food supply and reduce poverty in rural communities by 2030.
With this partnership, it is expected that Bayer and HARA will be a wellspring to empower smallholder farmers to reach their potential by promoting data-driven decisions.
Danamas Partnership and Microfinancing Disbursement
Danamas, a peer-to-peer lending startup operating under Sinarmas, one of Indonesia’s largest conglomerates, has officially partnered up with HARA and successfully disbursed working capital to HARA farmers.
By having Danamas as a partner, the working capital will be funneled to the smallholder farmers and a certain percentage of the loan will directly go to the HARA Depo kiosks, acting as a store credit. HARA Depo, HARA’s new initiative launched last quarter, provides farm input kiosk owners with a wider range of customer base through HARA farmers and mentoring on entrepreneurship, sales, and farming techniques. This path towards a closed-loop ecosystem ensures the farmers will use part of their working capital for their crop productivity, giving more financial access to the Indonesian agriculture community.
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