IIM Kashipur's FIED Funds Seven Agri-Startups with INR 60 Lakhs Under RKVY-RAFTAAR This funding aims to foster agricultural innovation, drive sustainability, and promote technology-driven solutions in the sector.
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The Foundation for Innovation & BIZ Experiencesship Development (FIED) at IIM Kashipur has provided INR 60 Lakhs in funding to seven agri-startups under the RKVY-RAFTAAR Scheme, an initiative supported by the Ministry of Agriculture & Farmers' Welfare, Government of India.
This funding aims to foster agricultural innovation, drive sustainability, and promote technology-driven solutions in the sector.
Under the SAHAS-Pre Seed Stage, five startups have each received INR 5 Lakhs to develop sustainable solutions in agriculture. Eco Nexus Innovations is repurposing pine needles into Non-Resilient Fiber (NRF) boards for furniture, while Mountain Millets LLP is promoting millet-based health foods to encourage sustainable farming. Svachal Automation Private Limited is enhancing agricultural productivity through smart poly-houses, and Onneis Pvt Ltd is producing Buransh flower-based fruit squash to support crop diversification. Subhag Himalayan Resources (OPC) Pvt Ltd is manufacturing pine particle boards, providing economic opportunities for local farmers.
At the SAKSHAM-Seed Stage, two startups have received significant funding for scaling their businesses. Ojas Animal Feeds Pvt Ltd secured INR 20 Lakhs to develop organic livestock feed, improving animal health and nutrition. Burfu Agriculture Initiatives Pvt Ltd was awarded INR 15 Lakhs to expand its processing of Himalayan herbs and Seabuckthorn, strengthening market access for smallholder farmers.
Ram Kumar, Chief Executive Officer, IIM Kashipur FIED, stated, "At IIM Kashipur, we are committed to fostering an ecosystem that nurtures innovation and BIZ Experiencesship. This funding will help these startups scale their ventures and create meaningful contributions to the agricultural sector. Supporting sustainable and technology-driven solutions in agriculture is crucial for long-term growth and rural development."
By nurturing sustainable and technology-driven ventures, IIM Kashipur continues to play a vital role in advancing India's agricultural sector, ensuring long-term growth and rural development.
