Promotion Of Startups In Agriculture Sector
Source: PIB
GS III: Indian Economy
Overview
- News in Brief
- Status of the scheme
Why in the News?
The Government of India is committed to promoting Agri-startups by providing financial and technical support to agri-startups in agriculture and allied sectors.
News in Brief
- Department of Agriculture & Farmers’ Welfare (DA&FW) is implementing the “Innovation and Agri-Entrepreneurship Development” programme under Rashtriya Krishi Vikas Yojana (RKVY) from 2018-19.
- It aims to promote innovation and agri-entrepreneurship by providing financial and technical support for nurturing the startup ecosystem in the country.
Status of the scheme
- 5 Knowledge Partners (KPs) and 24 RKVY Agribusiness Incubators (R-ABIs) have been appointed for training & incubation of agri-startups and implementation of this programme.
- The list of these 5 KPs and 24 R-ABIs is in Annexure. Under the programme, the funds are released to KPs and R-ABIs functioning in different States.
- These KPs and R-ABIs have established incubation centres to provide training, mentorship and financial support to startups under the programme.
- So far, 1554 agri-startups including 387 women-led startups working in various fields of agriculture & allied sector have been supported with technical and financial assistance of Rs. 111.57 crores released in instalments through various KPs and R-ABIs from 2019-20 to 2023-24 under this programme.
- Financial support up to Rs. 5.00 lakh is provided at the idea/pre-seed stage and up to Rs. 25 lacks at the seed stage to entrepreneurs/ startups in the field of agriculture & allied sectors to launch their products, services, business platforms, etc into the market and facilitate them to scale up their products and operations.
- Start-ups are trained and incubated by these Knowledge Partners (KPs) and RKVY Agribusiness Incubators (R-ABIs) appointed under the programme.
- There is no specific provision for landless tenant farmers to setup start-ups under this scheme.
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