Indoor Farm Business Strategy
Preferred students
- Anywhere
- Academic experience
Categories
Skills
Project scope
- What is the main goal for this project?
-
Project Outline
As part of the larger vision, Fortify seeks to develop an indoor farm. Thus, based on our proposed location of Mare Island, CA and anticipated crops (baby spinach, baby butters, arugula and tender lettuce like red oaks, tangos and mizuna), we would like to understand 1) what factors will affect economical feasibility and 2) what challenges we may face of customer adoption and how to address them.
Keeping in mind location and technology available, we would also like to explore the implementation of a circular economy in our roadmap. Considering indoor farms are electricity intensive, we seek a solution to mitigate this issue in conjunction to operating the vertical farm with a goal of net zero carbon emissions.
Deliverables
Conduct a market analysis assessing competitors and customers, including the possibility of conducting interviews. Assess the capital and operating expenses needed for the startup of a vertical farm with the aim of achieving an ROI of 20%. This will include an analysis of the current market prices for vertical farm produce, cost of local distribution, consumer perception of product, and a recommendation for what technology to buy for the farm.
An investment analysis of alternative technologies/strategies to meet the vertical farm’s energy needs, e.g., taking into consideration carbon credits that may lower energy costs. An assessment and recommendation about the points in the indoor farm that will directly or indirectly affect carbon emissions and systems that will reduce the emissions. This may include analysis of using clean energy sources, the creation of an onsite solar/wind farm, waste reuse, etc.
- What is the main goal for this project?
-
Project Outline
As part of the larger vision, Fortify seeks to develop an indoor farm. Thus, based on our proposed location of Mare Island, CA and anticipated crops (baby spinach, baby butters, arugula and tender lettuce like red oaks, tangos and mizuna), we would like to understand 1) what factors will affect economical feasibility and 2) what challenges we may face of customer adoption and how to address them.
Keeping in mind location and technology available, we would also like to explore the implementation of a circular economy in our roadmap. Considering indoor farms are electricity intensive, we seek a solution to mitigate this issue in conjunction to operating the vertical farm with a goal of net zero carbon emissions.
Deliverables
Conduct a market analysis assessing competitors and customers, including the possibility of conducting interviews. Assess the capital and operating expenses needed for the startup of a vertical farm with the aim of achieving an ROI of 20%. This will include an analysis of the current market prices for vertical farm produce, cost of local distribution, consumer perception of product, and a recommendation for what technology to buy for the farm.
An investment analysis of alternative technologies/strategies to meet the vertical farm’s energy needs, e.g., taking into consideration carbon credits that may lower energy costs. An assessment and recommendation about the points in the indoor farm that will directly or indirectly affect carbon emissions and systems that will reduce the emissions. This may include analysis of using clean energy sources, the creation of an onsite solar/wind farm, waste reuse, etc.
- What tasks will students need to complete to achieve the project goal?
-
No deliverables exist for this project.
About the company
- https://base-fortify.webflow.io/
- 2 - 10 employees
- Food & beverage, Science, Education, Environment, Travel & tourism
Fortify Growth is a company that believes in the future of food. As a startup, we intend to provide educational kits to engage students in thought provoking and educational activities on the future of food. We will be partnering with schools and restaurants to educate those in the food industry and our future leaders about the change that is needed. The overall goal is to build a destination for education, complete with a large scale vertical farm, as well as event space, farm to table dining, and more.