TNAU has disbursed ₹8.98 crore as grants to 85 agri startups since 2019
Tamil Nadu Agricultural University (TNAU), Coimbatore, has disbursed grants to the extent of 8.98 crore to 85 agri startups since 2019, under Rashtriya Krishi Vikas Yojana - Remunerative Approaches for Agriculture and Allied Sectors Rejuvenation (RKVY-RAFTAAR), a flagship scheme of the Union Ministry of Agriculture and Farmers' Welfare to strengthen infrastructure in Agriculture and Allied sectors.
The allied sectors constitute Crop Husbandry (including Horticulture), Animal Husbandry and Fisheries, Dairy Development, Agricultural Research and Education, Forestry and Wildlife, Plantation and Agricultural Marketing, Food Storage and Warehousing, Soil and Water Conservation, Agricultural Financial Institutions, other Agricultural Programmes and Cooperation.
TNAU is one among 24 R-ABIs (RKVY-RAFTAAR Agribusiness Incubators) identified by the Central Government for fostering Agripreneurship and Agri-Business ecosystem across the country, through facilitating financial aid to potential agri startups and nurturing a system of business incubation.
The TNAU has been conducting two programmes under this scheme: Agripreneurship Orientation Programme (AOP) for a grant up to ₹5 lakh, and Startup Agribusiness Incubation Programme (SAIP) ) for a grant of up to ₹25 lakh.
Earlier this week, R. Thamizh Vendan, Registrar and Acting Vice-Chancellor, TNAU, disbursed ₹35 lakh for 10 SAIP Cohort III Grantees as third instalment, ₹17.80 lakh for 11 AOP Cohort IV Grantees as second instalment and ₹35.40 lakh for 13 AOP Cohort V Grantees as first instalment. In total, ₹88.20 lakh were given to 34 grantees of SAIP cohort III and AOP cohort IV and V.
The grant, Prof. Vendhan said, has been effective in retaining the youth in agriculture and to support agri-based startups to innovate and implement new technologies for sustainable and profitable agribusiness.
The grantees have planned to utilise the grant for development of products and upscaling their startups in agri and allied ventures, E. Somasundaram, Director, Agri-Business Development, TNAU, said.
RKVY-RAFTAAR, sources added, is being implemented as a Centrally-sponsored scheme in the ratio of 60:40 (Government of India and State Share respectively) except in case of north-eastern and hilly States where the sharing pattern is 90:10. For union territories, the grant is 100% as Central share.
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