Meet Sergej, Management of Information Systems and Digital Innovation (MISDI) Alumnus, who has plans to revolutionise the agricultural industry starting with Tajik farmers in Tajikistan.
Welcome to our alumnus, Sergej Nicolaisen. We are delighted to speak with you.
Programme and graduation year: MSc Management of Information Systems and Digital Innovation (MISDI) 2020, Distinction.
Company name: Farnico
How did your time at LSE (Department of Management) contribute to your success/achieving this incredible feat?
It taught me how to think in an organised way, how to do proper research, and how to question everything, especially to understand the causes of things from both a technical rationale and socially embedded perspective.
What inspired you to set up your business (tell us a bit about your career journey)?
After meeting his Tajik partner whilst studying in London, Sergej started frequently visiting Tajikistan from 2014 onwards. After seeing the disparity and poverty among Tajik farmers, as well as pollution, he saw an opportunity. The vision was to organise and revolutionise agriculture in developing countries to benefit farmers and the natural environment by supplying global customers with 100% traceable organic and regenerative cotton, food, and other products.
By 2020, he had international experience growing markets as a Project Manager at a multinational company, graduated with Distinction from the LSE, and was ready to change the world. Therefore, in September 2020, after opening the head office in London, Farnico’s operating daughter company was founded in Tajikistan, and the work began.
What are your plans for the future of Farnico?
Farnico is in a constant state of change and innovation. We are focusing on several things that underline our strategic mission of revolutionising the global food and fashion industry to make it both sustainable and sociable for the entire value chain, starting and ending with the earth. In addition to partnering with hundreds of farmers to grow cotton, wheat, and barley through organic and regenerative agriculture, Farnico is starting its production facility of organic fertilisers, seed development and an insect breeding programme. Furthermore, Farnico is developing its sustainable and luxury fashion brand, Boosiks, with fashionable and classic clothing for new-borns made in Europe from Farnico’s own-grown cotton fibre.
Do you have any advice for current students wishing to set up their own businesses?
It’s harder than you think – don’t do it unless you are absolutely crazy! It always helps to have at least some work experience first. I was very fortunate because I got financial and operational support from my family in the first phase of the business, this allowed me to prove my concept and make the changes required to grow the business to make it financially stable and profitable, as well as making mistakes that I could pay for. If I had attempted to win major financing from VCs or other external sources (which I believe I could, as it was easy back then, unlike now), I feel like it could have driven my business way too hard and way too soon in possibly the wrong direction.
I think to dip your toe in, rather than jump in “bomba” style – careful, the water may be boiling!
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