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Photo by: Ruby Moselle O. Tumanguil

The Philippine Rice Research Institute (PhilRice), through its program Rice Business Innovations Systems (RiceBIS) Community, has explored capital access through crowdsourcing in partnership with Cropital.

“Capital access is just one of the areas of partnerships we explored”, said Dr. Aurora Corales, RiceBIS Program leader. She added that agencies working on technology transfer, training, enterprise development, organizational building, and policy are also being tapped to empower the farmers to build their enterprises.

Cropital has been particularly tapped by PhilRice Los Baños for their RiceBIS Community site located in Sariaya, Quezon. The RiceBIS Community Program is one of the new development programs of PhilRice that aims to help rice farmers improve their income through agriprenuership.

Cropital is an organization that generates investments to help finance farmers through crowdfunding. In other words, it allows people to invest their money in agriculture by funding a farm.

According to Niphie Watanabe, Cropital community manager for Region IV-A, the number of people investing their money in agriculture through Cropital is increasing. “Most of these people are composed of young professionals and overseas workers,” Watanabe elaborated.

Through the Cropital’s linkage to RiceBIS Community program, the investors would fund the rice-based enterprise proposed by the RiceBIS Community farmers.

To kick off this initiative, Watanabe visited the farmers in the RiceBIS site in Sariaya, Quezon. During this visit, he discussed how Cropital can help the farmers in terms of their financial support to rice farming, which is derived from crowdfunding.

Agripreneurship is the core concept the RiceBIS Community Program is promoting. Starting its second season of implementation, the program continues its efforts to further harness the agripreneurial opportunities for the farmers.

If you are interested to partner with the RiceBIS Community Program, you may contact them via: telephone (44) 456-0277); text (0917-111-7423); email (prri.mail@philrice.gov.ph); Facebook (rice.matters).

 

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Philippine Rice Research Institute (PhilRice) is a government corporate entity attached to the Department of Agriculture created through Executive Order 1061 on 5 November 1985 (as amended) to help develop high-yielding and cost-reducing technologies so farmers can produce enough rice for all Filipinos.

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Philippine Rice Research Institute