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RKVY Program: Agri Innovation



  Sep 02, 2023

Innovation and Agri-Entrepreneurship Development" Program under the Rashtriya Krishi Vikas Yojana (RKVY)


The Government of India, through the Department of Agriculture & Farmers’ Welfare (DA&FW), has demonstrated a strong commitment to the well-being of farmers and the modernization of agricultural systems. This commitment is reflected in the implementation of the "Innovation and Agri-Entrepreneurship Development" program under the Rashtriya Krishi Vikas Yojana (RKVY) since 2018-19. The central aim of this program is to stimulate innovation and agri-entrepreneurship by offering financial support and cultivating an incubation ecosystem across the nation.
 

Key Aspects and Accomplishments of the Program:

1. Knowledge Partners and Agribusiness Incubators: The DA&FW has engaged five Knowledge Partners (KPs) and twenty-four RKVY Agribusiness Incubators (R-ABIs) spanning various regions. These entities play a pivotal role in incubating startups and executing the program's objectives.
 
2. Financial Boost for Startups: The program extends financial aid to entrepreneurs within the agriculture & allied sector, empowering them to establish their startups. Funding of Rs. 5.00 lakh is provided at the idea/pre-seed stage, followed by Rs. 25 lakh at the seed stage to bolster inventive initiatives.
 
3. Holistic Support to Agri-Startups: To date, the program has offered support to a remarkable 1138 agri startups, with a commendable financial assistance of Rs. 70.30 crores. These startups benefit from both technical guidance and financial backing, enabling them to introduce their offerings to the market and scale their operations for long-term viability.
 
4. Wide Spectrum of Focus Areas: The agri-startups under this program span diverse domains within agriculture & allied sectors. They strive to enhance farming practices across precision agriculture, farm mechanization, agri logistics & supply chain, waste-to-wealth initiatives, organic farming, animal husbandry, dairy & fisheries, and more.
 
5. Incubation and Skill Enhancement: Startup incubation and training are facilitated through a network of Knowledge Partners (KPs) and RKVY Agribusiness Incubators (R-ABIs) established as part of the program. These entities assess the technological innovations, products, and services developed by startups for their relevance and potential impact within the agricultural landscape.
 
6. Facilitation of Promotion and Market Access: A cornerstone of the program's success is the active promotion of startups by KPs and R-ABIs. These entities foster connections between startups and institutions or organizations, thus enabling validation of products & technologies, establishment of market linkages, efficient supply chain management, and successful scaling up of operations.
 
7. Nationally Recognized Platforms: The Government of India takes a proactive role in creating national level platforms for agri-startups, such as agri-startup conclaves, exhibitions, webinars, and workshops. These platforms provide startups with direct access to customers, investors, and stakeholders, without intermediaries, thus facilitating effective marketing and collaboration.
 
Through the Innovation and Agri-Entrepreneurship Development program, the Government of India is nurturing a culture of innovation in the agriculture sector. By championing agri-entrepreneurs and endorsing advanced and sustainable farming practices, the program not only enhances agricultural productivity but also strengthens the foundations of India's agricultural sector.


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