Government released Rs 122 crore to over 1,700 agri-startups in last 5 years: MoS Agri

The federal government has launched Rs 122.50 crore to over 1,700 agri-startups in final 5 years underneath the Innovation and AgriEntrepreneurship Improvement programme, Parliament was knowledgeable on Tuesday. The programme, carried out in 2018-19 underneath the Rashtriya Krishi Vikas Yojana (RKVY), goals to advertise innovation and agri-entrepreneurship, by offering monetary and technical help for nurturing startups.

Minister of State for Agriculture Bhagirath Choudhary, in his written reply to the Lok Sabha, mentioned a monetary help of Rs 122.50 crore has been launched to 1,708 agri startups from 2019-20 to 2023-24.

The funds had been launched by 5 Information Companions (KPs) and 24 RKVY Agribusiness Incubators (R-ABIs) that present coaching and incubate startups for implementation of this programme.

Throughout 2023-24, about Rs 147.25 crore was launched to 532 startups.

Beneath the programme, monetary help of as much as Rs 5 lakh is offered on the thought/pre-seed stage and as much as Rs 25 lakh on the seed stage to entrepreneurs/ startups in agriculture and allied sector to launch their merchandise, providers, enterprise platforms, and many others and to facilitate in scaling up.