Union Agriculture Minister Explained Agriculture Accelerator Fund in Rajya Sabha

The Government of India, Department of Agriculture & Farmers’ Welfare (DA&FW) is committed to the welfare of the farmers.  It includes modernizing the agricultural systems by incorporating new and innovative solutions brought by the agri-entrepreneurs. Accordingly, DA&FW is implementing “Innovation and Agri-Entrepreneurship Development” programme under Rashtriya Krishi Vikas Yojana (RKVY) from 2018-19 with an objective to promote innovation and agri-entrepreneurship by providing financial support and nurturing an incubation ecosystem in the country.

This information was given by the Union Minister of Agriculture and Farmers Welfare, Shri Narendra Singh Tomar in a written reply in Rajya Sabha.

This Department has appointed five Knowledge Partners (KPs) and twenty four RKVY Agribusiness Incubators (R-ABIs) have been appointed from across the country for incubation of startups and implementation of this programme. Under the programme, the financial support is provided to entrepreneurs in the field of agriculture & allied sector to set up their startups.  For this, a financial support of Rs. 5.00 lakh is provided at the idea/pre seed stage and Rs. 25 lakh at the seed stage.

So far, a total of 1138 agri startups are supported under the programme with financial assistance of Rs. 70.30 crores. The technical and financial assistance are provided to startups to launch their products, services, business platforms, etc into the market and facilitate them to scale up their products and operations to attain business viability.

Agri-start-ups supported under the programme are at various stage of implementation from idea to scaling and growth stage. These agri-startups are working in different areas of agriculture & allied sectors for improving the farming practices such as precision agriculture, farm mechanization, agri logistics & supply chain, waste to wealth, organic farming, animal husbandry, dairy & fisheries, etc.

Start-ups are trained and incubated at various Knowledge Partners (KPs) and RKVY Agribusiness Incubators (R-ABIs) appointed under the programme. The technologies, products and services developed by these startups are evaluated by KPs and R-ABIs in terms of their utility and impact in agriculture and allied sectors.  Besides, KPs and R-ABIs are promoting these startups by linking them with various institutions and organizations for their product & technology validation, market linkages, supply chain management, streamlining the distribution and scaling up of the product and operations, etc. Government of India organize various national level programmes including agri-startup conclave,  agri fair and exhibitions, webinars, workshops to serve as a platform for the promotion of agri startups by linking them with various stakeholders. Such programmes act as direct market reach and cater as an effective marketing tool to startups. Stakeholders get a direct opportunity to interact with the agri startups without any intermediaries.