The selected startups went through ‘agripreneurship orientation’ programme for two months wherein they received a monthly stipend of Rs 10,000 along with mentoring on financial, technical, IP related issues, etc.
Ministry of Agriculture and Farmers’ Welfare will invest nearly Rs 25 crore in 234 startups in agriculture and allied sectors in FY21 as part of the recently launched Innovation and Agri-entrepreneurship Development programme under the ministry’s Rashtriya Krishi Vikas Yojana (RKVY). According to the ministry, 112 startups have already received funding of close to Rs 12 crore. These startups were selected by five agri-focused institutes including Hyderabad’s National Institute of Agricultural Extension Management, National Institute of Agricultural Marketing based in Jaipur, Indian Agricultural Research Institute based in Delhi, Karnataka’s University of Agriculture Science and Assam Agriculture University out of the total applications.
The selected startups went through ‘agripreneurship orientation’ programme for two months wherein they received a monthly stipend of Rs 10,000 along with mentoring on financial, technical, IP related issues, etc., according to a statement released by the ministry on Thursday. The orientation programme was organized at 29 agribusiness incubators of five chosen institutes and RKVY-Raftaar Agribusiness Incubators (RABI) across India. The idea-stage funding to startups is up to Rs 5 lakh including 90 per cent grant and 10 per cent contribution from the incubatee. The capital support for seed-stage ventures is up to Rs 25 lakh that includes 85 per cent grant and 15 per cent share of the incubate.
Source: Financial Express
