IIM Kashipur's Agri Start-up Fiesta drives around Rs 15 crore funding to promote Startup Ecosystem

"Uttishtha 2024," the 7th edition of the biggest agri start-up expo, has concluded with great fanfare after two days of talent, innovation, and creativity organised by the Foundation for Innovation and Entrepreneurship Development [FIED] and E-Cell at IIM Kashipur.

The event showcased a number of forward-thinking startups run by bright young people from all around the nation.

As per IIM Kashipur, "A total of Rs 14.6 crores has been disbursed to startups under startup support schemes, out of which Rs 1.35 crores have been sanctioned to 13 agri-focused startups in 23-24 by the RKVY RAFTAAR RABI scheme by the Ministry of Agriculture and Farmers Welfare and Rs 2.89 crores have been sanctioned to 13 startups under Startup India Seed Fund Scheme.

"With the aid of IIM Kashipur's FIED, a number of brilliant startups, such as Bijak, Loopworm, Greenpod Labs, InfyU Labs, Agronxt, Industill, and Ikayu Foodlabs, have raised Rs 320 crore and more in funding from outside venture capital firms and angel investors. Under the Ministry of Agriculture and Farmers Welfare's RKVY RAFTAAR RABI scheme, IIM Kashipur FIED has provided funding and business training to 200+ startups since its founding in 2018, including 68 with an agri-focused focus."

IIM Kashipur further said that 100 promising agri-startups and community-focused businesses from the Uttarakhand hills participated in the agriculture fair, showcasing their goods and services that support the agricultural industry and its supporting ecosystems.

"Impactful initiatives were presented by IIM Kashipur, such as the Scaleup Pitchathon, a national live startup pitching competition in which the top three creative ventures were chosen from a pool of more than 100 government-recognized startups and competed for a prize of Rs. 1.5 lakh to become the best startup," it said.

Prof Kulbhushan Balooni, Director, IIM Kashipur, said, "IIM Kashipur is committed to supporting the startup ecosystem on multiple fronts by involving more and more academic members to train incubatees and providing them with every aid and support imaginable. The Government of India's continued support is essential for sustaining incubators' activities across higher education institutions. Because of IIM Kashipur's commitment to regional development, we are attempting to assist Uttarakhand-based agri-tech enterprises, thus making IIM Kashipur distinctive among the league of leading B-schools. FIED has incubated 189 startups since its inception in 2018, which in turn has created more than 3000 jobs. IIM Kashipur has already had an impact on more than 7 lakh farmers."

Prof Safal Batra, managing director of FIED and chairperson of E-Cell at IIM Kashipur, said, "Throughout India, we are recognised as leaders in entrepreneurship.

NITI Ayog, Govt of India, has granted the Atal Community Innovation Centre to IIM Kashipur. We are working with farmer-producer organisations in Uttarakhand at the grassroots level, similar to us, where we plan to train 15 FPO. In the future, this centre will become as prominent as the achievements it has garnered."

Udaan 7.0, the National Business Plan Competition, is another noteworthy initiative that provides a forum for prospective students to showcase their creative ideas to professors and industry professionals. The top 7 teams, out of over 300, took home a total of Rs. 50,000 in cash prizes.

IIM Kashipur's FIED-funded startups were Krushika Naturals Pvt Ltd. 25 Lakhs, Himshilpi Hunar LLP 5 Lakhs, Zarin Gourmet Pvt Ltd 25 Lakhs, MyPahadiDukan 25 Lakhs, BABA Agrotech 20 Lakhs, SS Agriculture Innovations Pvt Ltd 5 lakhs, and Svastha Samriddhi Pvt Ltd 25 Lakhs. This funding aims to catalyse the growth of these ventures and contribute to the entrepreneurial ecosystem.

In Uttishtha '24, IIM Kashipur FIED felicitated 13 agri-focused startups, providing them with a sanction of Rs 1.30 crores, supported by the Ministry of Agriculture and Family Welfare.