Advertisment

Govt Releases Rs 122.50 Crore to Over 1,700 Agri-Startups in 5 Years

Launched in 2018-19 under the Rashtriya Krishi Vikas Yojana (RKVY), the initiative aims to foster innovation and agri-entrepreneurship by offering financial and technical support to nurture startups in the agricultural sector.

author-image
Pratidin Time
Updated On
New Update
Representative Image

The government has disbursed Rs 122.50 crore to more than 1,700 agri-startups over the past five years under the Innovation and Agri-Entrepreneurship Development programme.

Advertisment

Launched in 2018-19 under the Rashtriya Krishi Vikas Yojana (RKVY), the initiative aims to foster innovation and agri-entrepreneurship by offering financial and technical support to nurture startups in the agricultural sector.

Minister of State for Agriculture Bhagirath Choudhary, in his written reply to the Lok Sabha, confirmed that between 2019-20 and 2023-24, Rs 122.50 crore was released to 1,708 agri-startups. The funds were provided through five Knowledge Partners (KPs) and 24 RKVY Agribusiness Incubators (R-ABIs), which offer training and incubate startups under the programme.

In the fiscal year 2023-24 alone, around Rs 147.25 crore was allocated to support 532 startups.

The programme offers financial assistance of up to Rs 5 lakh at the idea/pre-seed stage and up to Rs 25 lakh at the seed stage to entrepreneurs and startups in agriculture and allied sectors, enabling them to launch and scale their products, services, and platforms.

Also Read: India's Global Workforce Employability to Reach 55% by 2025

Agriculture Startups