Entries open for Startup Agri-Business Incubation Programme

Objectives

• To ensure timely seed funds to selected incubatees.
• To enable translation of minimum viable product (MVP) to marketable stage of the product business.
• To provide a platform for faster experimentation and modification in their approaches or minimum viable product (MVP) based on innovative solutions/processes /products/services/business models etc, for scaling up.

Focus Areas

• Farm Mechanization
• Precision Agriculture
• Supply Chain & Agriculture Logistics
• Post-Harvest, Food Technology & Value addition
• Waste to Wealth & Green Energy
• Agriculture Allied Sectors
• Agri Fintech
• Agricultural Inputs & Biotechnology
• Natural Resource Management
• Agriculture Extension & Education

Benefits

• Technology Validation & Backstopping.
• Pilot Opportunities
• Business Mentoring from Industry Leaders.
• Access to Cutting-Edge Infrastructure.
• Market Linkages & Investor’s Connect.

Funding Information

• Seed Stage Funding as grant-in-aid to Startups
  • Under the seed stage funding available to incubatees, financial assistance of a maximum of Rs. 25.00 Lakhs will be granted to potential startups that have a minimum viable product (MVP)/business or a service with market fit, viable commercialization and scope of scaling who has innovative solutions/ processes/products/services/business models in agriculture and allied sector.
  • After successful completion of the one-month orientation programme, the Selection, and Investment Committee (SIC) will recommend the selected startups for Seed Stage Funding grantin-aid up to Rs. 25.00 Lakhs to Nodal Division, Department of Agriculture Cooperation and Farmers Welfare (DAC&FW).

Eligible Costs

• Expenses for the following broad activities would be supported under this program as approved by SIC:
  • Product Refinement/Testing and Trials/Test Marketing/Marketing launch
  • Expenses on Data generation/data acquisition
  • Fees for IP issues/one-time technology licensing fees
  • Manpower for day today operations
  • Any other area/activity as deemed necessary and recommended by the SIC

Eligibility Criteria

• All incubatees will be eligible for this funding on the basis of consistent performance evaluated by SIC.
• The applicant should be a registered legal entity in India.
• The applicant has to be an Indian start-up as per DIPP (Department of Industrial Policy and Promotion) notification. This support is not meant for Indian Subsidiaries of MNCs/foreign companies.
• Start-ups must have a minimum viable product/business or a service with market fit, viable commercialization and scope of scaling
• Start-ups should be using innovation/regional outreach in its core products or service or business model.
• A startup supported once will not be eligible for applying for the subsequent round of seed support.

Selection Process

• All applicants for this programme will apply as per the prescribed format.
• The RKVY Incubation Committee (RIC) will select the potential incubates based on selection criteria.
• During the selection process, RIC will take into consideration any other grant-in-aid funding received by the incubatee for the same activity/product from other GoI Ministries and State Governments. A self-declaration from the incubatee about such funding will be mandatory.
• After one month of residency/incubation programme, RIC will evaluate the progress of the incubatee and based on their performance, may recommend the incubatee to the Selection and Investment Committee (SIC) for final recommendation of grant-in-aid.
• The decision of Selection and Investment Committee (SIC) in this regard will be final. The SIC or IEF of CCS NIAM will not be bound to give any reason in case an application for seed fund is rejected.

For more information, visit IEF of CCS NIAM.