Agriculture Accelerator Fund- Financial Assistance To Agricultural Entrepreneurs And Startups

To develop an incubation ecosystem in the nation and promote innovation and agri-entrepreneurship through financial support, the Department of Agriculture & Farmers' Welfare is implementing the "Innovation and Agri-Entrepreneurship Development" programme under Rashtriya Krishi Vikas Yojana (RKVY) from 2018–19.

This Department has appointed five Knowledge Partners (KPs) and twenty-four RKVY Agribusiness Incubators (R-ABIs) from across the country for startup incubation and programme implementation.

The programme provides financial assistance to entrepreneurs in the agricultural and allied sectors who want to start their businesses. A financial support of Rs. 5.00 lakh is provided at the idea/pre-seed stage and Rs. 25 lakhs at the seed stage for this purpose. 

So far, 1138 agri startups have received financial assistance totalling Rs. 70.30 crores through the programme. Startups receive technical and financial assistance to help them launch their products, services, business platforms, and so on into the market and scale up their products and operations to achieve business viability.

Agri-start-ups supported by the programme are at various stages of development, from concept to scaling and growth. These agri-startups are working to improve farming practices in various areas of agriculture and allied sectors, such as precision agriculture, farm mechanization, agri logistics & supply chain, waste to wealth, organic farming, animal husbandry, dairy & fisheries, and so on.

Startups are trained and incubated at the program's Knowledge Partners (KPs) and RKVY Agribusiness Incubators (R-ABIs). KPs and R-ABIs evaluate the technologies, products, and services developed by these startups in terms of their utility and impact in agriculture and related sectors. Furthermore, KPs and R-ABIs promote these startups by connecting them with various institutions and organizations for product and technology validation, market linkages, supply chain management, streamlining distribution, and scaling up the product and operations, among other things.

The Government of India organizes several national-level programmes, such as agri-startup conclaves, agri fairs, exhibitions, webinars, and workshops, to serve as a platform for the promotion of agri-startups by connecting them with various stakeholders. Such programmes provide startups with direct market reach and serve as effective marketing tools. Stakeholders have the opportunity to interact directly with agri startups without the use of intermediaries.

-PIB'

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