Abstract

  The aim of this study is to focus on the entrepreneurship possibilities in the livestock sector (particularly Goat) in India. After studying the market, the authors discovered that there is a lack of a unique, tamper-proof and reliable identification system. Due to this, the animal insurance has drastically reduced to around 25-30% of the original claimed value. As a result, the authors have developed an image-based identification system based on iris pattern of goats to generate a unique biometric tag to each individual without hurting it. After the invention of unique trait of the species, the authors moved on to commercialise it. The Primary Market Research has been conducted and market segments have been identified. The goat breeding farms, processors and animal husbandries are the systematic market segments identified respectively. Eventually, the authors calculated the total addressable market and predicted that on charging Rs 100 per biometric tag, a total of 1.16Billion INR can be generated by selecting Goat population in west Bengal as beachhead market i.e., 11.6 million. The quantification can be visualized as, the average cost of each goat would be: Rs 10000-12000, where 2-3 out of 10 goats distributed, are stolen and misinterpreted during verification. Thus, out of 11.6 million goats, more than 2.5-3million goats get misinterpreted resulting in loss of Rs 12000*2.5m = 30 Billion INR pan India. Our technology shall help to curb the loss completely. Low insurance claim, poaching, un-accounted international transfers of goats can easily be eradicated using this biometric technology.

Keywords: Entrepreneurship; TAM; Goat-Aadhaar; Innovation; Start-up; LTV; COCA

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Citation

Citation: Subhranil Mustafi., et al. “Entrepreneurship Possibility on Goat Farming in India". Acta Scientific Agriculture 5.2 (2021): 24-32.

Copyright

Copyright: © 2021 Subhranil Mustafi., et al. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.