Startup Agri-Business Incubation Program, a financial assistance program with maximum of Rs 25 lakhs will be granted to potential start-ups that have a minimum viable product (MVP) based on innovative solutions/ processes / products/ services/ business models in agriculture and allied sector. The applicant incubatees would be provided funds as per their genuine requirements and as per appraisal/evaluation of their business plans by the program selection committee and the decision of the committee in this regard will be final.
This support will assist the incubatees to launch their products/ services/ business platforms etc. into the market and help them to scale up their operations as well as to attain business viability at a faster pace. This support will also facilitate them to attract investments from angel/venture capitalists or taking loans from commercial banks /financial institutions for further scaling-up of their business operations.
Eligibility Criteria
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The applicant should be a registered legal entity in India
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Startup should have a minimum viable product (MVP) ready
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The applicant has to be an Indian start-up as per DPIIT notification. This support is not meant for Indian Subsidiaries of MNCs/foreign companies.
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A startup supported once will not be eligible for applying for the subsequent round of seed support.
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Startup should not have received the grant-in-aid funding from any state / central government bodies.
Selection Process of Incubatee
MANAGE Centre for Innovation and Agripreneurship would constitute an Incubation Committee having experts who can evaluate the prospective incubate application.
After two months of residency of incubatees, MANAGE Centre of Excellence Incubation Committee will evaluate the progress of the incubatee and based on their performance recommend them for grant-in-aid funding support to Nodal Division, Department of Agriculture, Cooperation & Farmers’ Welfare (DAC&FW).
RKVY- RAFTAAR selection and Monitoring Committee from DAC&FW will further evaluate the startups for final release of grant-in-aid
Pattern of Funding Support and Release of Funds
For ensuring incubatee/ private participation in the programme, 15 percent on proportionate basis of the project cost will be borne by the incubatee. The remaining 85 percent of the project cost on proportionate basis up to a maximum of INR 25 lakhs will be borne under RKVY-RAFTAAR scheme which will be released in three instalment as mentioned below:
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The first installment of 40 % of the sanctioned project for seed support will be released after signing of the agreement between the incubator/ RABI and the incubatee.
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The second installment of 40% will be released to the incubatee after recommendation of Incubation Committee based on their performance and achievement of milestone as well as after utilization of 80% of previously released amount and receipt of provisional UC of 80% of already released funds.
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The third installment of 20% will be released to incubatee after recommendation of MANAGE committee based on their performance and achievement of milestone as well as after utilization of 80% of previous released amount and receipt of provisional UC of 80% of already released funds.
Broad Activities to be supported under Grant-in-aid Funding
Expenses for the following broad activities would be supported under this program:
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Product Refinement/Testing and Trials/ Test Marketing/ Marketing launch
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Expenses on data generation/data acquisition for ideas working on IT side/AI side
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Fees for IP issues/one time technology licensing fees
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Manpower for day to day operations
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Day to day operational expenses like electricity bill, incubation charges etc.
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Any other area/activity as deemed necessary and recommended by MANAGE Centre for Innovation and Agripreneurship Incubation Committee.
