The Government of India reaffirms its dedication to fostering agri-startups, offering financial and technical backing to ventures in agriculture and allied sectors.
Implemented by the Department of Agriculture & Farmers’ Welfare (DA&FW), the “Innovation and Agri-Entrepreneurship Development” initiative under Rashtriya Krishi Vikas Yojana (RKVY) since 2018-19 aims to cultivate innovation and entrepreneurship in agriculture.
Five Knowledge Partners (KPs) and 24 RKVY Agribusiness Incubators (R-ABIs) have been enlisted to train and incubate startups. Financial aid ranging from Rs. 5.00 lakh to Rs. 25 lakh is extended to selected startups.
A total of Rs. 111.57 crores have been disbursed to 1554 startups from 2019-20 to 2023-24. Union Minister of Agriculture and Farmers’ Welfare, Arjun Munda, disclosed this information in Lok Sabha on Tuesday.