Agri-Startups: Govt Funds Rs 106.25 Crore to 1,524 Startups

New Delhi, Dec 19 (PTI) The agriculture ministry has provided Rs 106.25 crore to 1,524 agri-startups since 2019-20 fiscal, the Parliament was informed on Tuesday.

In a written reply to Lok Sabha, agriculture minister Arjun Munda said the "government is committed to promote agri-startups by providing financial and technical support to agri-startups in agriculture and allied sectors."

The ministry is implementing "Innovation and Agri-Entrepreneurship Development" programme under Rashtriya Krishi Vikas Yojana (RKVY) from 2018-19 with an objective to promote innovation and agri-entrepreneurship by providing financial and technical support for nurturing startups ecosystem in the country, he said.

So far, five Knowledge Partners (KPs) and 24 RKVY Agribusiness Incubators (R-ABIs) have been appointed for training and incubation of startups and implementation of this programme.

Under the programme, the financial support of up to Rs 5 lakh is provided at the idea/pre-seed stage and up to Rs 25 lakh at the seed stage to entrepreneurs/ startups in the field of agriculture and allied sector to launch their products, services and business platforms, among others.

"Under the programme, the funds are released to KPs and R-ABIs situated in different states. The financial assistance of Rs 10,625.08 lakhs have been released in installments to a total of 1,524 agri-startups through various KPs and R-ABIs from 2019-20 to 2023-24," Munda said.

Startups are trained and incubated by these KPs and R-ABIs appointed under the programme, he said.

Startups supported under the programme are at various stages of implementation from 'idea' to 'scaling' and 'growth stage'.

These agri-startups are working in different areas of agriculture and allied sectors such as precision agriculture, farm mechanisation, agri logistics and supply chain, the minister said.