Rokhshana Parveen
Volume-XIII, Issue-II, January 2025
Volume-XIII, Issue-II, January 2025 | ||
Published Online: 31.01.2025 | Page No: 75-88 | |||
Microfinance,
Vertical Farming, and Data-Driven Innovation in Bangladesh
Rokhshana
Parveen, MBA in Business Analytics, Wilmington University, New
Castle, DE. USA | |
This study examines the integration of microfinance with vertical farming initiatives in Bangladesh, aiming to address pressing challenges related to food security, urbanisation, and economic inequality. Vertical farming, a pioneering agricultural practice, maximises crop yields in limited spaces by employing techniques like hydroponics and aeroponics. It provides a sustainable solution for urban food production because it reduces dependency on traditional farming methods constrained by limited arable land and environmental challenges. At the same time, microfinance empowers small-scale farmers and entrepreneurs by removing financial barriers such as the need for collateral and high interest rates. By offering accessible loans, microfinance institutions enable individuals to invest in vertical farming projects, so they can enhance productivity and improve their livelihoods. This research investigates the effectiveness of microfinance in supporting vertical farming, explores the operational dynamics of these initiatives, and evaluates their socio-economic impacts on farmers and communities. In addition, the study highlights the critical role of data analysis and IT in improving the efficiency and scalability of vertical farming. By using IT solutions such as IoT-enabled sensors, farmers can monitor environmental conditions like temperature, humidity, and nutrient levels in real time. Data analysis helps optimise resource utilisation, such as water and energy, so that operational costs are minimised and crop quality is enhanced. These technologies also support decision-making by providing actionable insights that improve overall farming practices and product marketability. To gather comprehensive data, the study adopts a mixed-methods approach, combining quantitative surveys and qualitative interviews. Key findings reveal that training in technical and IT skills is essential for the success of vertical farming projects. Microfinance institutions play a pivotal role not only in providing financial resources but also in facilitating access to equipment, technical support, and IT-driven monitoring systems. These elements are crucial for ensuring product quality, efficient resource management, and market readiness. The study concludes that integrating microfinance with vertical farming, complemented by data analysis and IT, can significantly enhance food production, promote sustainable agricultural practices, and foster economic empowerment in urban and peri-urban areas. These findings offer valuable insights for policymakers, development practitioners, and agricultural entrepreneurs. They emphasise the importance of supportive policies, institutional collaborations, and investments in IT infrastructure to scale microfinance-supported vertical farming initiatives effectively. |