The primary challenge that a start-up faces is finding investors and scaling up. Especially the agri startups find it all the more provoking, as there is no help on hand for the ones who have a great farm related idea, and wish to transform it into a successful proposition. This problem was understood and addressed by a-IDEA, NAARM-TBI in 2015 when the first food and agri-business accelerator program in India was launched. Now the government has declared the advent of the second phase – Agri Udaan.
Agri Udaan – Food and Agri-business Accelerator 2.0 is an excellent scheme to boost up Agriculture based entrepreneurship in our country. A fantastic initiative by NAARM – National Academy of Agriculture Research and Management, now the agri start-ups will not only be encouraged by the government but will also be given a chance to connect with the investors.
Agri Udaan, in my view, is a platform that brings together the budding entrepreneurs from both rural and urban India, along with the investors.
Though all the applications will be first evaluated and only best 40 will get a chance to present in front of the panel, I feel it is a great opportunity for all the start-ups to pitch their creative ideas.
The best part of the scheme is that anyone and everyone with an innovative idea are eligible to apply. Thus, now the farmers who live and breathe agriculture, have thorough knowledge and ideas that can actually make a difference, will now have an opportunity to garner benefits of the program.
The features of Agri Udaan that tend to make it a definite success are:
The scheme is managed by the ICAR – Indian Council of Agricultural Research and is partnered by IIM Ahmedabad’s Centre for Innovation Incubation and Entrepreneurship. It is funded through Department of Science and Technology. With such industrial bodies involved, there will be hope of positive growth for the industry
The Food and Agri-business Accelerator that will be launched under Agri-Udaan will help the unique ideas turn into business ventures, thus increasing the market size of the agri-tech industry in India
It provides support to any start up developing innovative products or services, with initial customer traction, thus boosting the small start-ups to grow
Only 40 applications will be shortlisted, and from them, 12 will be selected for the second phase, which means there will be a strict filtration, thus start-ups which are serious will be given an opportunity for intensive training on aspects of preparing a business plan, technology commercialisation, management finance, analysing risk, etc.
Benefits of Agri-Udaan to the industry:
Aspiring investors and allied sectors could merge
In the first phase – 200 agri-business startups applied. Out of these 200, about 40 startups were mentored, and 8 startups built their value chain. 3 out of these 8 received a total funding worth 2.5Cr INR.
The startups have funding opportunity worth over 25 lakhs INR and can garner more money through investor pitches.
The focus areas of the program are Sustainable Inputs, Precision/Smart Agriculture, Innovative Food Technology, Supply Chain Technology, Fisheries, Soil, Water & Weather tech., ICT & IoT in Agriculture, Agri Fintech, Animal Husbandry, Urban/Vertical Farming, Agri-Biotech, Post Harvest Technology, Farm Fresh Retail, and Farm Mechanization. Thus, startups from all these industries will come together and share their ideas. This would bring a huge change in the ways agriculture activities are carried on.
Agri-entrepreneurship will get accelerated through which better living conditions will be provided to the ones practising agriculture.
In last five years, there has been a definite boom in agri-based start-ups, but the investment environment yet needs to be at pace with the rate at which new ventures are coming up.
Agri-Udaan, is a ray of hope, as it assures holistic development through sustainable investments under constant mentoring.
