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Business

Brother of SoftBank's Son backing Indian agriculture startups

New venture will capitalize on rising food demand

MUMBAI -- Taizo Son, an entrepreneur and youngest brother of SoftBank Group founder Masayoshi Son, plans to support Indian startups that specialize in food and agriculture, eyeing the country's soaring food demand.

Mistletoe, a Japanese startup support business led by Taizo, established a joint venture with accelerator GSF India and Infobridge Marketing and Promotions, a Tokyo-based consulting company that specializes in the Indian market.

The joint venture, called Gastrotope, is likely to support startups that are working to boost efficiency in agriculture, such as those creating technology for efficient water and land use, or seeds with high yields and nutritional value. Gastrotope will advise startups and help finance their efforts to develop new technologies and businesses.

About half of India's population is employed in the agricultural sector. Still, there are concerns that the country's available resources will not be able to withstand the surge in food demand triggered by rapid population and economic growth.

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