The Government of India is dedicated to promoting agri-startups by providing financial and technical support in agriculture and related sectors.
The Ministry of Agriculture & Farmers’ Welfare (MoA&FW) has been implementing the “Innovation and Agri-Entrepreneurship Development” program under the Rashtriya Krishi Vikas Yojana (RKVY) since 2018-19. The program aims to foster innovation and agri-entrepreneurship by offering financial and technical support to cultivate a thriving startup ecosystem in the country.
To date, 5 Knowledge Partners (KPs) and 24 RKVY Agribusiness Incubators (R-ABIs) have been established to train and incubate agri-startups as part of this initiative.
The program provides financial assistance of up to Rs. 5.00 lakh at the idea/pre-seed stage and up to Rs. 25 lakh at the seed stage to entrepreneurs and startups in the agriculture and allied sectors. This funding helps them bring their products, services, and business platforms to market and scale their operations.
The KPs and R-ABIs set up under the program train and incubate these startups. The Government of India also organizes various national-level programs, including agri-startup conclaves, fairs, exhibitions, webinars, and workshops, to promote agri-startups and connect them with various stakeholders.
Additionally, the Ministry of Agriculture & Farmers’ Welfare has approved the establishment of an Agri Accelerator Fund with a budget of INR 300 crore for three years, starting from 2023-24. This fund aims to scale up startups with innovative technologies that can modernize the country’s agricultural ecosystem.
So far, 1708 agri-startups across various agriculture and allied sectors have received technical and financial assistance totaling Rs. 122.50 crore, distributed in installments to various KPs and R-ABIs from 2019-20 to 2023-24 under the “Innovation and Agri-Entrepreneurship Development” program under RKVY.
These agri-startups are at various stages of development, from idea to scaling and growth stages, and are working in diverse areas such as precision agriculture, farm mechanization, agri-logistics and supply chain, waste to wealth, organic farming, animal husbandry, dairy, and fisheries.
The innovative technologies and products developed by these startups provide affordable and modern solutions, leveraging cutting-edge technology, data analytics, and sustainable practices to address the challenges faced by traditional farming methods.
This information was provided by the Union Minister for Agriculture and Farmers’ Welfare, Shri Shivraj Singh Chouhan, in a written reply in the Rajya Sabha today.
