In order to contribute directly and indirectly to enhancing the income of farmers by providing opportunites to them and to provide employment to youth, start-ups are being encouraged.
Basic Facts
A component, Innovation and Agri-entrepreneurship Development programme has been launched under Rashtriya Krishi Vikas Yojana in order to promote innovation and agripreneurship by providing financial support and nurturing the incubation ecosystem.
These start-ups are in various categories such as agro-processing, artificial intelligence, digital agriculture, farm mechanisation, waste to wealth, dairy, fisheries etc.
Components of the initiative
The following are the components of this scheme:
Agripreneurship Orientation – 2 months duration with a monthly stipend of Rs. 10,000/- per month. Mentorship is provided on financial, technical, IP issues etc.
Seed Stage Funding of R-ABI Incubatees – Funding upto Rs. 25 lakhs (85% grant & 15% contribution from the incubatee).
Idea/Pre-Seed Stage Funding of Agripreneurs – Funding up to Rs. 5 lakhs (90% grant and 10% contribution from the incubatee).
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