Ministry of Agriculture & Farmers Welfare
Startups in Agriculture Sector
Department of Agriculture, Cooperation & Farmers Welfare (DAC&FW) has launched a new component called “Innovation and Agri-Entrepreneurship Development” under Rashtriya Krishi Vikas Yojana (RKVY-RAFTAAR) in 2018-19 with objective to promote innovation and agripreneurship by providing financial support and nurturing the incubation ecosystem. Start-ups are being encouraged in order to contribute directly and indirectly to enhancing the income of farmers by providing opportunities to them and to provide employment to youth.
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In this connection, five Knowledge Partners (KPs) and twenty four Agribusiness Incubators (R-ABIs) have been appointed by DAC &FW to advise on smooth and efficient execution of this programme in various States. List of these KPs and R-ABIs is enclosed (Annexure).
Under this programme, for idea/pre-seed stage, a selected startup shall be eligible for a maximum financial assistance of Rs. five lakh. For seed stage, a selected startup shall be eligible for a maximum financial assistance of Rs. Twenty five lakh.
346 startups in the agriculture and allied sectors are selected for funding for a sum of Rs. 36.72 crore in installments and Rs.16.01 crore has been released as 1st installment. These start-ups were trained for two months at various agribusiness incubation centres (i.e KPs & RABIs) spread across the country.
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This information was given in a written reply by the Union Minister of Agriculture and Farmers Welfare Shri Narendra Singh Tomar in Rajya Sabha on 20.09.2020.
Source: pib
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