Government to launch new scheme to boost agriculture start-ups
The government will launch a new AGRI-UDAAN programme that will mentor startups and help them connect with potential investors. It is an attempt to promote innovation and entrepreneurship in agriculture.
Under the programme, start-ups will get incubation space to run their businesses and have access to research laboratories and libraries. AGRI UDAAN will also help the selected start-ups with regulatory services like company registration and environmental compliances.
AGRI-UDAAN will be managed by India’s premier farm research body, the Indian Council of Agricultural Research (ICAR). An intensive training of six months will be provided to entrepreneurs after which the new start-ups will be connected to investors for funding.
AGRI-UDAAN will reach out to agri-start-ups in several cities like Chandigarh, Ahmedabad, Pune, Bangalore, Kolkata and Hyderabad. The programme will shortlist 40 start-ups in the first round who will pitch their ideas to a panel of evaluators. Out of these, between 8 to 12 start-ups will be selected for the final capacity building workshop.
The food and agri-business accelerator programme will also help convert innovative ideas from India’s rural youth into viable businesses.
The idea behind the scheme is to attract the youth from rural India and elsewhere, and train them so they can add value to the farmers’ produce.
The initiative will bring a start-up revolution in agriculture which so far has been limited to the services sector.