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Selected Several Startups In UP In Last 2 Yrs, Provided Financial Assistance: Centre

the Ministry has appointed five Knowledge Partners (KPs) as Centre of Excellence and 24 RKVY-RAFTAAR Agribusiness Incubators (R-ABIs) from across the country for implementation of this programme.

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Centre selected a number of startups during the last two years in Uttar Pradesh and Rajasthan and provided financial assistance to them under the “Innovation and Agri-Entrepreneurship Development” programme, said Union Minister of Agriculture and Farmers Welfare Narendra Singh Tomar in Lok Sabha, on Tuesday in a written reply. 

Between 2019-20, the number of Agri startups selected in UP was 13 and financial assistance of 69 lakh were given by the centre, which rose to 19 in the year 2020-21 along with the financial assistance of 85.80 lakh. 

The number of Agri startups selected in Rajasthan was 3 between 2019-20 and financial assistance of 18 lakh were given by the centre, which rose to 18 in the year 2020-21 along with the financial assistance of 97 lakh. 

The Ministry of Agriculture and Farmers Welfare has launched a component called “Innovation and Agri-Entrepreneurship Development” under Rashtriya Krishi Vikas Yojana (RKVY-RAFTAAR) in 2018-19 with the objective to promote innovation and agri-entrepreneurship by providing financial support and nurturing the incubation ecosystem. 

Apart from that, the Ministry has appointed five Knowledge Partners (KPs) as Centre of Excellence and 24 RKVY-RAFTAAR Agribusiness Incubators (R-ABIs) from across the country for implementation of this programme.

“Innovation and Agri-Entrepreneurship Development” programme of the ministry is basically meant for the promotion of agri-startups. Various provisions regarding startups are governed by norms laid down by the Department for Promotion of Industry and Internal Trade (DPIIT), the minister said. 

Start-ups of agriculture and allied sectors in areas such as agricultural logistics, value and supply chain management, online/virtual platform, organic farming and services etc. are supported under the “Innovation and Agri-Entrepreneurship Development” programme of this Ministry, he added in his statement. 

Meanwhile, a total of 646 start-ups in the agriculture and allied sectors have been selected under “Innovation and Agri-Entrepreneurship Development” for funding of a sum of Rs. 69.92 crore in installments and Rs. 33.94 crore has been released to respective KPs and RABIs for funding these start-ups, said the minister.