Five Knowledge Partners (KPs) and twenty-four Agribusiness Incubators (R-ABIs) have been appointed by the Department of Agriculture, Cooperation & Farmers Welfare under “Innovation and Agri-Entrepreneurship Development” with an objective to promote innovation and agripreneurship by providing financial support and nurturing the incubation ecosystem.
Under this programme, for idea/pre-seed stage, a selected startup shall be eligible for a maximum financial assistance of Rs five lakh. For seed stage, a selected start up shall be eligible for a maximum financial assistance of Rs Twenty five lakh.
346 start-ups in the agriculture and allied sectors are selected for funding for a sum of Rs. 36.72 crore in instalments and Rs.16.01 crore has been released as 1st instalment.
These start-ups were trained for two months at various agribusiness incubation centres (i.e KPs & RABIs) spread across the country. This information was given in a written reply by the Union Minister of Agriculture and Farmers Welfare Narendra Singh Tomar in Rajya Sabha during Monsoon session.