In a significant development for the Indian agricultural sector, the Union government has launched the AgriSURE Scheme. AgriSURE – Agri Fund for Start-ups and rural enterprises is an innovative fund which is a pioneering step toward revolutionizing the agricultural landscape in India.
With a focus on technology-driven, high-risk, high-impact ventures, AgriSURE is designed to fuel growth and foster innovation in the agricultural and rural start-up ecosystem. A Blended capital fund of Rs 750 crore with SEBI Registered Category II, Alternative Investment Fund (AIF), contributions from the Government of India is Rs 250 crore, NABARD is Rs 250 crore, and Rs 250 crore is being mobilized from banks, insurance companies, and private investors.
In his keynote address, Union Minister Shivraj Singh Chouhan highlighted the transformative potential of the newly launched initiatives. He said the government would strive towards ensuring increased production, reduced cost of production for farmers, remunerative prices for farmers, crop diversification, preventing post-harvest loss and safe guard during crop loss through crop insurance.
The event preceded the conferring of the AgriSURE Greenathon Awards, to the most innovative start-ups developing tech-centric solutions to address challenges faced by farmers across various stages of the agri-value chain, from selection of input to marketing and value addition. Greenothon was launched on 12 July 2024 at Mumbai and its Grand Finale with 10 finalists was held before the launch.
Out of 2000 budding Agri Start-ups, over 500 prototypes were screened, with 10 finalists pitching their ideas. The top three start-ups— Greensapio, Krushikanti, and Ambronics—were selected as the Winner, Runner-Up, and Second Runner-Up, respectively, from a total of 10 finalists. With a prize pool of ₹6 lakhs, the Greenathon not only rewarded excellence but also provided a platform for start-ups to present their ideas to a broad network of stakeholders for future collaboration.
The event was a convergence of various stakeholders, including representatives from state governments, banks, investment community and start-ups, who came together to witness the occasion of launch of AgriSURE, a blended capital fund for start-ups and rural enterprises, which is a first of its kind of product in India agriculture start-up ecosystem.
-PIB
