The 'Agri Fund for Start-Ups & Rural Enterprises' (AgriSURE) Scheme aims to support start-ups and agripreneurs through investments in sector-specific, sector-agnostic, and debt Alternative Investment Funds (AIFs), as well as direct equity support to start-ups working in Agriculture and allied sectors.
What is AgriSURE scheme Agri fund for startups - This initiative plans to foster innovation and sustainability in India's agricultural sector through the establishment of a Rs 750 crore Category-II Alternative Investment Fund (AIF). The fund will offer both equity and debt support, specifically targeting high-risk, high- impact activities in the agriculture value chain. What is AgriSURE scheme Agri fund for startups.
The fund will focus on innovation in agriculture, enhancing the farm produce value chain, creating rural infrastructure, generating employment, and supporting Farmers Producer Organizations (FPOs). The fund will also encourage IT-based solutions and machinery rental services for farmers. NABVENTURES, a wholly-owned subsidiary of NABARD, will be the Fund manager of AgriSURE. The fund is designed to operate for 10 years, extendable by two or more years.
Underscoring its commitment to fostering innovation, NABARD also launched the AgriSURE Greenathon 2024. The hackathon aims to address three key problem statements: "Smart Agriculture on a Budget," which tackles the high cost of advanced agriculture technologies that hinder small and marginal farmers; "Turning Agri-Waste into Profitable Business Opportunities," focusing on transforming agricultural waste into profitable ventures; and "Tech Solutions Making Regenerative Agriculture Remunerative," which aims to overcome economic hurdles in adopting regenerative agriculture practices. What is AgriSURE scheme Agri fund for startups
NABARD called upon participation from young innovative minds to contribute in the journey of our country towards ‘Viksit Bharat’ with their innovative solutions to alleviate the flailing issues of the agriculture.
Key Features of AgriSURE:
Fund Size:
The fund is set at ₹1,000 crore aimed at bolstering agri-startups and rural enterprises.
Blended Capital Approach:
The initiative employs a blended capital strategy to mobilize additional finances for sustainable development. It combines equity and debt financing to support startups in scaling their operations.
Target Sectors:
AgriSURE targets various sectors within agriculture, including agritech, animal husbandry, fisheries, food processing, and biotechnology.
Management:
The fund will be managed by Nabventures, a wholly owned subsidiary of NABARD. This ensures professional and focused management of the funds to achieve the desired outcomes.
Support for Innovation:
The fund aims to foster innovative solutions in agriculture, such as precision farming, agritech solutions, farm management software, agri-marketing platforms, supply chain management, and food processing.
Investment in Startups:
Individual investments from the fund can go up to ₹25 crore, supporting startups in expanding their operations and bringing their innovative solutions to market.
Pre-Seed Investments:
An additional ₹750 crore is earmarked for pre-seed investments to support early-stage startups with untested ideas, helping them develop minimum viable products and viable business plans.
Government Collaboration:
The fund is a collaborative effort involving contributions from both NABARD and the Ministry of Agriculture. This partnership aims to enhance the effectiveness and reach of the fund.
Strategic Objectives:
The primary objective is to shift agricultural funding from traditional production credit to investment credit, thereby promoting a more innovative and technology-driven agricultural sector.
What is AgriSURE scheme Agri fund for startups
This initiative reflects NABARD's commitment to fostering a vibrant startup ecosystem in agriculture and rural development, promoting sustainable practices, and improving the overall efficiency and productivity of the sector.
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