SBI Foundation and Villgro have introduced a new initiative called ‘Innovators for Bharat’ to support 14 up-and-comers agrotechnological new companies.
The program was officially launched at an event held at the International Centre, Bengaluru, which was attended by representatives from SBI Foundation, Villgro, NABKISAN and various industry stakeholders.
The initiative aims to drive innovation in the agricultural sector by addressing critical challenges such as climate change, sustainability and farmer profitability.
Purpose and vision of the program.
The key objective of the ‘Innovators for Bharat’ initiative is to support early and growth stage agri-tech startups to solve pressing agricultural problems.
Sanjay Prakash, MD & CEO, SBI Foundation, said, “SBI Foundation’s vision is to support early and growth stage startups that address the challenges associated with agriculture and the impacts of climate change. Our Our goal is to encourage the development of technology solutions from these startups, ultimately improving the incomes of small farmers and making their businesses more profitable and sustainable. Together, we can drive significant change in the agricultural sector and contribute to. a more resilient future.”
These technological solutions are expected to help farmers increase profitability, reduce post-harvest losses and minimize the environmental impacts of agricultural practices, particularly by addressing the issue of CO2 emissions.
Financing and Catalytic Capital for startups
The program is backed by an initial funding of Rs 3.25 crore from the SBI Foundation, with additional capital provided by NABKISAN, bringing the total funding to Rs 6 crore.
This “catalyst capital” is intended to support the 14 selected startups, allowing them to scale their operations and bring their innovative technologies to market.
These startups include Bharat Rohan, RAAV Techlabs, Navork Innovations, Marut Drones, GreyMatter (Upaz), Carbon Masters, Raheja Solar, Ekosight, Pasidi Panta, Agrosperity (Kivi), Krimanshi, RuKart, GreenSupply and E-Feed.
The startups focused on various aspects of agricultural innovation, from creating value from agricultural waste to reducing post-harvest losses.
Over the next two years, the program aims to impact the lives of 10,000 people, promote sustainable agricultural practices on 60,000 acres of land and avoid 15,000 tons of CO2 emissions.
Collaboration and support structure.
The ‘Innovators for Bharat’ initiative is a collaborative effort that brings together the expertise and resources of SBI Foundation and Villgro. The SBI Foundation provides not only financial support but also access to a network of banking and financial institutions for mentorship.
Villgro contributes through mentoring, technical assistance and market links, ensuring that startups can scale their solutions.
Maithili Rege, Associate Leader of Agriculture and Climate Action at Villgro, highlighted the importance of this collaboration in supporting agtech startups and helping them access innovative financing that may not be easily available through traditional capital routes. risk.
This partnership also facilitates field testing and pilots in collaboration with civil service organizations, ensuring that technologies are tested and implemented effectively in real-world agricultural settings.
Long-term impact and objectives of the program
The broader objective of the ‘Innovators for Bharat’ initiative is to promote sustainable agriculture in India. Through a combination of financial and technical support, the program aims to drive significant change in the agricultural sector by empowering startups to develop profitable, sustainable and climate-resilient agricultural solutions.
The focus on reducing carbon emissions and promoting sustainable practices aligns with global efforts to mitigate the impacts of climate change while improving farmers’ livelihoods.
This initiative is part of SBI Foundation’s broader efforts to accelerate social innovation in key sectors such as agriculture, climate change and financial inclusion.
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