TIERRA AGROTECH and IDEN BIOTECHNOLOGY, companies operating on the seeds and agriculture solutions sector, have recently created the Joint Venture TIDAS AGROTECH PRIVATE LIMITED for the development and commercialization of biological solutions for farmers in India. Several years of previous collaboration between both the Indian and Spanish companies served as solid foundation for this partnership aiming to provide more sustainable solutions for agricultural needs in the country and beyond.
The company will leverage the product development and commercialization in India of a pipeline of biological product leads coming from IDEN’s and TIERRA’s portfolio. The innovative portfolio comprises biostimulant products with open field validated effects on seed germination enhancement, enhanced growth, quality parameters, yield increase besides water stress tolerance among others in multiple crops like corn, tomato, rice or cotton among others. This pipeline will be enriched in the future with new biostimulant and biopesticide leads.
The companies contribute with synergistic capabilities to the Joint Venture, incorporating IDEN´s proprietary novel non-random platform for the development of novel biological products (biostimulants and biopesticides) and leveraging TIERRA´s strength and capabilities for the validation of the products and solid commercial network in the country, for a successful biological business in India.
According to Statistics MRC, the Global Biostimulants market accounted for $1.77 billion in 2015 and is expected to grow at a CAGR of 10.82% to reach $3.64 billion by 2022. India’s agricultural sector is the backbone of the economy, represented about 17% of the country´s GDP. India has the largest biostimulants market in the Asia-Pacific region, having accounted for 35.2% of the total market share in 2013. Indian biostimulant market with value of $87.48 million, is projected to grow at CAGR of 13.2% to reach $183.87 million by 2019, representing a significant market opportunity for TIDAS.
TIDAS will operate from Hyderabad, epicenter of technological progress and the capital of the state of Telangana. A city with a growing research and development (R&D) industry, which encompasses important industrial sectors such as pharmaceuticals, information technology, biotechnology, nanotechnology, agriculture, and all kinds of research related to science, engineering and technology.
The Board of Directors of the new company will be composed of two representatives from TIERRA and two representatives from IDEN. “TIDAS is a major milestone in the process of establishing global presence for IDEN. The integrated capabilities and knowledge of TIERRA and IDEN will ensure the success of the company in this fast growing sector in India.” said Nora Alonso. “We are excited about this JV. With this collaboration, we hope to bring innovative biologicals to Indian Farmers, that leads to sustainable, improved agricultural practices, and that improves farmer income and profits” said Suresh Atluri.
About Iden BIotechnology
IDEN BIOTECHNOLOGY is a Spanish company founded in 2005, developing biotechnological products and integrated solutions for crop yield and quality enhancement, including agrobiological products, like plant biostimulants and biopesticides, and more productive crop varieties. For more information visit www.idenbiotechnology.com.
About Tierra Agrotech
Tierra Agrotech Pvt Ltd., a company based in Hyderabad, India, started in 2013 by professionals and supported financially by successful investors. The company is primarily engaged in crop breeding & technology development and has also established well-equipped crop breeding R&D and biotechnology research centre in Hyderabad. The company has recently acquired the India cotton seed business of DuPont-Pioneer and Monsanto.