NABARD Announces ₹750 Crore Agri-SURE Fund at a Stakeholder Meet

The National Bank for Agriculture and Rural Development (NABARD) introduced the Agri-SURE fund, which aims to support startups and rural enterprises in agriculture. Announced at a stakeholder meeting in Mumbai, the fund, managed by NABVENTURES, has an initial corpus of ₹750 crore, with ₹250 crore each from NABARD, the Ministry of Agriculture, and other institutions.

The fund will back 85 startups with investments up to ₹25 crore each, focusing on innovative, tech-driven projects to enhance the agricultural value chain, create rural infrastructure, and generate employment. Additionally, it will support Farmers Producer Organizations (FPOs) and foster entrepreneurship through IT-based solutions and machinery rental services for farmers.

Shri A K Sahu, Joint Secretary, Department of Agriculture & Farmers Welfare, highlighted the need for innovation and technology to improve productivity and bridge the credit gap in the rural sector. He emphasized that Agri-SURE is a significant step towards achieving these objectives.

Shri Shaji K.V., Chairman of NABARD, stressed the importance of digitalizing agriculture to drive the next wave of growth through fintech innovations. He noted that credit alone is insufficient, and sustainable growth requires public and private collaboration.

NABARD launched the AgriSURE Greenathon 2024 hackathon to underscore its commitment to innovation further. This initiative addresses challenges such as affordable smart agriculture, turning agricultural waste into profitable ventures, and making regenerative agriculture economically viable.

Representatives from banks, financial institutions, insurance companies, AIFs, and startups in the agricultural sector attended the prelaunch event, which showcased a collaborative effort to promote sustainable rural development and economic growth.

NABARD’s ‘Agri-SURE’ fund represents a bold move to transform the agricultural landscape by leveraging innovation and technology for sustainable development.