News Update

CIIE.CO and Assam Govt Join Forces to Boost 100 Agri Startups in North East India

• ByStartupStory     |    June 14, 2023

CIIE.CO, the startup continuum of IIM-A, has joined hands with the government of Assam to provide support to 100 startups, focusing on the agriculture sector. This collaboration is part of the Assam Agri Growth Lab initiative, which has secured funding from the World Bank. The program has already achieved noteworthy success, with its inaugural cohort witnessing the successful acceleration of 25 startups in its first year. The partnership aims to foster entrepreneurship and drive innovation in the agriculture sector, particularly in Assam and the North East region.

In a continued effort to support agribusiness entrepreneurs, Assam Agri-business and Rural Transformation Project (APART) and ICCSPL have unveiled Cohort 2.0 as part of their initiative. Building upon the success of the first cohort, which witnessed remarkable outcomes including a 20% average turnover increase and INR 8.26 crore mobilized in finance, the program now welcomes the participation of 29 enterprises in its ongoing second cohort. Notably, the program has seen a significant rise in women-led startups, increasing from 32% to 45%. Additionally, the initiative has expanded its reach, encompassing 12 districts to drive agricultural innovation and economic growth.

The objective is to showcase the flourishing startup ecosystem in Assam and allure investors, with the ultimate aim of establishing Assam as a prominent center for entrepreneurial endeavors and garnering nationwide recognition for its innovative minds. The program will aid in fostering the creation of novel products, embracing cutting-edge technologies, and enhancing quality benchmarks. Moreover, it will offer valuable assistance in enhancing business presentations, facilitating financial access, and simplifying licensing procedures.

“The startup ecosystem in Assam is brimming with untapped potential. The AAGL Program aims to unlock this potential by equipping entrepreneurs with the tools and resources to thrive. By offering mentorship, access to funding, and industry collaborations, we are empowering startups to overcome barriers and accelerate their growth trajectory,” said Chintan Bakshi Partner Incubation CIIE.CO.

During an eight-month duration, this program offers an extensive array of assistance, encompassing personalized virtual clinics and mentoring sessions designed specifically for founders. The program concentrates on key aspects like packaging, distribution channels, communication, markets, quality, and other technical support areas. It annually extends its aid to 25 agribusiness enterprises, providing the second cohort participants with numerous advantages, including entrepreneurial workshops, business sessions, technical guidance, compliance advice, market connections, and financial accessibility.

CIIE.CO aims to stimulate innovation in the agricultural sector, facilitate sustainable growth, and empower entrepreneurs. Through the provision of comprehensive support and abundant resources, the program will empower agri and allied enterprises to thrive, make significant contributions to the local economy, and generate enduring positive outcomes.

The Assam Agribusiness Growth Lab (AAGL) is a cutting-edge initiative introduced by CIIE.CO in partnership with APART and co-implemented by ICCSPL. Its primary objective is to facilitate and expedite the expansion of agri and allied enterprises in Assam. Through the provision of all-encompassing aid and abundant resources, AAGL endeavors to establish a flourishing ecosystem for agribusiness, fostering economic development and enhancing livelihoods in the region.

CIIE.CO is the Startup Incubator of IIM-Ahmedabad and a leading catalyst in India’s entrepreneurial ecosystem. It nurtures innovative startups, provides them mentorship and support, and connects them with relevant stakeholders to accelerate their growth and impact.

 

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