To promote agri firms, the Centre will fund 112 start-ups in the first phase with a sum of Rs 11.85 crore in the current financial year. According to Union Agriculture Minister Narendra Singh Tomar , the funds will be given to the start-ups selected by different knowledge partners and agribusiness incubators in the area of agro-processing, food technology and value addition.
The agriculture minister said that the funds will be provided under the Innovation and Agri-entrepreneurship Development Programme launched under the revamped Rashtriya Krishi Vikas Yojana (RKVY).
“In the first phase, 112 start-ups in the area of agro processing, food technology and value addition will be funded for a sum of Rs 11.85 crore,” Tomar said on Friday.
The funds will be released in instalments and the selected start-ups have been trained for two months at 29 agribusiness incubation centres spread across India, he said.
These start-ups will lead to employment opportunities for the youth.