One of the most prominent programmes run by the Indian government is the Rashtriya Krishi Vikas Yojana – Remunerative Approaches for Agriculture and Allied Sectors Rejuvenation (RKVY-RAFTAAR). Building an Agripreneurship & Agri-Business ecosystem in the country, providing funding for aspiring Agristartups, and encouraging a system of business incubation are all ways this initiative hopes to develop infrastructure in the Agriculture and Allied industries.

Under the RKVY Raftaar – Startup Agri-Business Incubation Program, promising businesses with a minimum viable product (MVP) based on innovative solutions/processes/products/services/business models in the agriculture and related industry would receive financial assistance of up to Rs. 25 lakhs. The candidate incubatees would receive funding based on their actual needs and the assessment/evaluation of their business plans by the programme selection committee, whose decision in this regard would be final.

The incubates will be able to get their products, services, business platforms, etc. out into the market and scale up their operations more quickly, increasing the likelihood of their success. Because of this assistance, they will be better able to secure funding from angel investors and venture capitalists, as well as loans from commercial banks and other financial institutions, which will allow them to expand their business operations.

Objectives of Avishkar Scheme:

  • To ensure that deserving incubatees receive timely financing and incubation support.
  • To facilitate the transition of the minimal viable product (MVP) into a commercial state and to expand the product and business.
  • To provide a platform for speedier testing and adjustment of their techniques or minimal viable product (MVP) based on creative solutions/ processes/ products/ services/ business models, etc. in preparation for scaling up.

Eligibility Criteria For Avishkar Scheme:

  • The applicant must be a legal entity registered in India.
  • The applicant must be an Indian startup per DIPP notice. This assistance is not intended for Indian subsidiaries of MNCs and international firms.
  • A once-supported startup is ineligible to apply for further rounds of seed funding.

The pattern of Funding Support and Release of Funds For Avishkar Scheme:

To ensure incubatee/private involvement in the programme, the incubatee will bear 15 percent of the proportional project cost. The remaining 85 percent of the project’s proportionate cost up to a maximum of INR 25/- lakhs will be covered by the RKVY-RAFTAAR scheme, which will be released in three instalments as detailed below:

  • After the signing of the agreement between the Incubator/RABI and the incubatee, the first instalment of 40% of the approved project for seed funding will be released.
  • The second instalment of 40% will be released to the incubatee upon the recommendation of the Incubation Committee based on their performance and achievement of milestones, as well as upon the use of 40% of the previously released amount and receipt of a provisional UC for 80% of the previously released funds.
  • The third instalment of 20% will be released to the incubatee upon the recommendation of the KRISHIK- Agri Business, UAS, Dharwad Incubator Committee, based on the incubatee’s performance and achievement of milestones, as well as the utilisation of 80% of the previously released amount and receipt of provisional UC for 80% of the previously released funds.

Broad Activities to be supported under Grant-in-aid Funding For Avishkar Scheme:

This Avishkar Programme would support the costs associated with the following activities:

  • Product Refinement/Testing and Trials/ Test Marketing/ Marketing launch
  • Expenses on data generation/data acquisition for ideas working on IT side/AI side
  • Fees for IP issues/one time technology licensing fees
  • Manpower for day to day operations
  • Day to day operational expenses like electricity bill, incubation charges etc.
  • Any other area/activity as deemed necessary and recommended by KRISHIK- UAS, Dharwad Agri Business Incubator Incubation Committee.

Focus Areas For Avishkar Scheme:

Fous Sector for Avishkar
  • Organic Farming
  • Precision Farming
  • Agricultural Supply Chain
  • Agricultural Biotechnology
  • Post Harvest & Food Technology
  • Food Processing
  • IoT, ICT and AI in Agriculture
  • Natural Resource Management
  • Animal Husbandry, Dairying
  • Agri-Input tools and technologies
  • Farm Mechanisation
  • Agriculture Engineering
  • Agri Ext Education
  • Waste to Wealth, Secondary Agriculture
  • Agri Clinics & Farm Health services

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