Rs 750 crore `AgriSURE Fund` to empower startups, boost rural economy
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In a pioneering step toward revolutionising the agricultural landscape in India, the government has launched the ‘AgriSURE Fund’ with a capital pool of Rs 750 crore to further drive investments that will empower farmers and boost the rural economy.
With a focus on technology-driven, high-impact ventures, ‘AgriSURE’ is designed to fuel growth and foster innovation in the agricultural and rural start-up ecosystem.
According to the government, it will provide a capital fund of Rs 750 crore — with SEBI Registered Category II, Alternative Investment Fund (AIF) and contributions from the government at Rs 250 crore; NABARD at Rs 250 crore and Rs 250 crore from banks, insurance companies and private investors.
According to Agriculture Minister Shivraj Singh Chouhan, the ‘AgriSURE Fund’ is a continuation of previous efforts of the government “to ensure that every farmer in India has the technological support needed to thrive."
The minister advocated that farmers’ prosperity will lead to a prosperous economy as farmers start spending their fortune on consumption and that farming is the backbone of the country with farmer being the life blood.
The Agriculture Minister also elaborated on the government’s commitment to supporting the farming community.
“Our vision is to empower every farmer and the launch of the AgriSURE Fund is a testament to our unwavering dedication to the agricultural sector,” said the minister.
The government will relentlessly strive towards ensuring increased production, reduced cost of production for farmers, remunerative prices for farmers, crop diversification, preventing post-harvest loss and safe guard during crop loss through crop insurance.
The AgriSURE Greenathon Awards With a prize pool of Rs 6 lakh were also given to the most innovative startups developing tech-centric solutions to address challenges faced by farmers across various stages of the agri-value chain — from selection of input to marketing and value addition.
The top three startups — Greensapio, Krushikanti and Ambronics — were selected as winner, runners-up and second runners-up, respectively, from a total of 10 finalists.
Devesh Chaturvedi, Secretary, Ministry of Agriculture and Farmers Welfare, stressed the critical need for startups in agriculture to solve farmers' problems.
