The deteriorating impact of traditional linear model on agriculture productivity and ecology has drawn a serious emphasis on the espousal of circular economy (CE) practices in the agriculture sector. Accordingly, an increasing number of startups operating on circular principles are emerging in the agriculture sector to create value from the agri‐waste. In this research, we aim to investigate the challenges faced by these agri waste‐to‐value (WTV) startups, which is currently missing in the extant literature. In the process, we have used the lens of extended institutional theory (EIT) to identify and understand the challenges faced by WTV startups and stakeholder theory (ST) is used to propose strategies for overcoming these obstacles. An innovative integrated model based on probabilistic linguistic term sets (PLTS), evidential reasoning algorithm (ERA), and aggregated‐ranking model considering psychological preferences of decision makers is developed to examine the challenges. This is one of the initial studies to comprehensively explore the challenges faced by WTV startups in the agriculture sector and propose a framework to overcome these challenges based on EIT and ST. A multidimensional analysis is performed to consider the economic, operational, and socio‐environmental implications of the challenges. Different analyses are conducted for better understanding about the sector and maturity stage specific challenges faced by startups. The findings reveal that coercive challenges pose the most critical threat and a policy restructuring is urgently required to support the WTV startups in the agriculture sector. Further, operational challenges related to raw materials and infrastructure appear to be more critical in the waste‐to‐material sector whereas waste‐to‐energy sector is struggling due to technological issues.

中文翻译：

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农业部门向循环经济过渡：扩展的制度理论和利益相关者视角

传统线性模型对农业生产力和生态学的影响不断恶化，这引起了对农业部门对循环经济 （CE） 实践的重视。因此，农业领域涌现了越来越多的基于循环原则运营的初创公司，以从农业废弃物中创造价值。在这项研究中，我们旨在调查这些农业废物转化为价值 （WTV） 初创公司面临的挑战，这在目前现有的文献中是缺失的。在此过程中，我们使用扩展制度理论 （EIT） 的视角来识别和理解 WTV 初创公司面临的挑战，并使用利益相关者理论 （ST） 提出克服这些障碍的策略。开发了一种基于概率语言术语集 （PLTS） 、证据推理算法 （ERA） 和考虑决策者心理偏好的聚合排名模型的创新集成模型来检验挑战。这是全面探讨 WTV 初创公司在农业领域面临的挑战并提出基于 EIT 和 ST 的克服这些挑战的框架的初步研究之一。进行多维分析以考虑挑战的经济、运营和社会环境影响。进行了不同的分析，以更好地了解初创公司面临的行业和成熟度阶段的具体挑战。研究结果表明，强制性挑战构成了最严重的威胁，迫切需要政策调整以支持农业领域的 WTV 初创公司。 此外，与原材料和基础设施相关的运营挑战在垃圾焚烧发电行业似乎更为关键，而垃圾焚烧发电行业则因技术问题而苦苦挣扎。