A total of 346 startups in the agriculture and associated sectors are being funded with a sum of Rs 36.71 crore in this phase. The fund will be released in installments.
The agriculture ministry will fund 234 more startups in the agriculture and associated sectors with a sum of Rs 24.85 crore under a central scheme in the current fiscal according to its statement. The government is providing financial support and nurturing the incubation ecosystem under the Rashtriya Krishi Vikas Yojana (RKVY) by promoting innovation and agripreneurship.
The ministry said in a statement that in addition to 112 startups already funded for a sum of Rs 11.85 crore, 234 startups in the agriculture and allied sectors will be funded for a sum of Rs 24.85 crore. That makes a total of 346 startups in the agriculture and associated sectors are being funded with a sum of Rs 36.71 crore in this phase. The fund will be released in installments.
These startups, trained at 29 agri-business incubation centers spread across India for two months will lead to employment to youth. Besides, they, directly and indirectly, will contribute to enhancing the income of farmers by providing opportunities to them, the statement added.
Some startups being incubated offer different farm solutions. For instance, Activx Animal Health Technologies branded as Vetzz is a network of Veterinary doctors which provides an immediate connection with customers who are animal owners through real-time teleconsultation and doorstep visits, the ministry statement added.
Another start-up SNL Innovations InnoFarms provides fruit and vegetable pulp processed directly at the farm using an in-house developed monoblock fruit processing platform to convert fruits to a pulp with a shelf life of up to one year with complete traceability from farm to customer.
Whereas EF Polymer has developed an eco-friendly water retention polymer with an aim to solve the water scarcity crisis for farmers. This startup made a super absorbent polymer designed to absorb water in the soil, retain it for a long time, and supply to the crops as required.
The Agri startups selected are working in the field of agro-processing, artificial intelligence, digital agriculture, farm mechanization, waste to wealth, dairy, and fisheries among others.
Stating that the government is funding some startups led by women, the ministry said A2P Energy Solution is one such startup set up by women. The statement also added that this company uses artificial intelligence to track waste biomass and then works with farmers to collect it.