Tatarstan plans to launch a crowd-funding application “Fermopolis” for investing in farm products

Tatarstan plans to launch an application, where everyone can invest in farm products and purchase them at a reduced price. This year, the project, with support of the Ministry of Economy of the Republic of Tatarstan, won a grant from the “Start” competition of the Innovations Promotion Fund in the amount of 3 million rubles, the funds received were directed to the project.

The author of the idea is a graduate of the Innopolis University Navruza Tulkunova.

As part of the project, an online platform for investing in agriculture with elements of gamification was developed to provide consumers with high-quality farm products at affordable prices. A web application has also been developed for farmers to track investments from consumers and to plan production volumes with minimizing risks.

The “Fermopolis” platform is a unique tool for supporting small and medium-sized agricultural facilities by investing players in production directly during the game. This investment vehicle will allow farmers to plan and scale up production with minimal risk without the need for bank loans. Thanks to the concept of gamification, the user of the “Fermopolis” platform will be involved in each stage of the process of growing agricultural products.

The developers expect that next year at least 100 farms will be connected to “Fermopolis”, and the players will invest 6-7 million rubles in production.