IIM Kashipur’s Agri Start-up Fiesta Secures Rs 15 Crore Funding Boost to Fuel Startup Ecosystem
- ByStartupStory | January 29, 2024
The 7th edition of “Uttishtha 2024,” the prominent agri start-up expo hosted by the Foundation for Innovation and Entrepreneurship Development (FIED) and E-Cell at IIM Kashipur, concluded on a high note after two days of showcasing talent, innovation, and creativity in the agri-startup landscape.
A significant highlight of the event was the disbursement of a total of Rs 14.6 crores to startups under various startup support schemes. Out of this, Rs 1.35 crores were sanctioned to 13 agri-focused startups in 23-24 under the RKVY RAFTAAR RABI scheme by the Ministry of Agriculture and Farmers Welfare. Additionally, Rs 2.89 crores were granted to 13 startups under the Startup India Seed Fund Scheme.
“IIM Kashipur’s FIED, in collaboration with Uttishtha ’24, has facilitated funding and business training to numerous startups, including Bijak, Loopworm, Greenpod Labs, InfyU Labs, Agronxt, Industill, and Ikayu Foodlabs. These startups collectively raised Rs 320 crores from external venture capital firms and angel investors,” stated the institute.
Under the Ministry of Agriculture and Farmers Welfare’s RKVY RAFTAAR RABI scheme, IIM Kashipur FIED has supported 200+ startups since its establishment in 2018, with a focus on 68 agri-centric ventures.
The expo featured 100 promising agri-startups and community-focused businesses from the Uttarakhand hills, showcasing products and services supporting the agricultural industry and its ecosystems.
Prof Kulbhushan Balooni, Director, IIM Kashipur, expressed the institute’s commitment to supporting the startup ecosystem, saying, “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.”
Prof Safal Batra, Managing Director of FIED and Chairperson of E-Cell at IIM Kashipur, highlighted the institute’s leadership in entrepreneurship, stating, “Throughout India, we are recognised as leaders in entrepreneurship. NITI Ayog, Govt of India, has granted the Atal Community Innovation Centre to IIM Kashipur.”
The event also featured Udaan 7.0, the National Business Plan Competition, where over 300 teams participated, and the top 7 teams took home a total of Rs. 50,000 in cash prizes.
IIM Kashipur’s FIED-funded startups received financial support during Uttishtha ’24. Krushika Naturals Pvt Ltd, Himshilpi Hunar LLP, Zarin Gourmet Pvt Ltd, MyPahadiDukan, BABA Agrotech, SS Agriculture Innovations Pvt Ltd, and Svastha Samriddhi Pvt Ltd were among the startups that received funding to catalyze their growth.
In conclusion, IIM Kashipur FIED felicitated 13 agri-focused startups during Uttishtha ’24, providing them with a sanction of Rs 1.30 crores, supported by the Ministry of Agriculture and Family Welfare. The funding aims to contribute to the entrepreneurial ecosystem and foster the growth of these ventures.
“IIM Kashipur is 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,” added Prof Kulbhushan Balooni, emphasizing the institute’s broader impact.
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