CONTENTS
- AgriSURE
AgriSURE
Context:
The Government to soon launch an ‘Agri Fund for Start-Ups & Rural Enterprises’ (AgriSURE) to provide support to Startup and Agripreneurs.
Relevance:
GS III: Agriculture
Introduction to AgriSURE Initiative
The Government of India is set to launch the ‘Agri Fund for Start-Ups & Rural Enterprises’ (AgriSURE) aimed at bolstering innovation and sustainability in the agricultural sector. This initiative seeks to support start-ups and agripreneurs through investments in sector-specific and sector-agnostic Alternative Investment Funds (AIFs), as well as direct equity assistance.
Key Details of AgriSURE
- Fund Allocation: AgriSURE will be established with an initial corpus of ₹750 crore, comprising contributions from NABARD, the Ministry of Agriculture, and other institutional stakeholders.
- Fund Structure: It will operate as a Category-II Alternative Investment Fund (AIF), providing both equity and debt support. The fund targets high-risk, high-impact activities across the agriculture value chain.
- Launch Event: The announcement was made at a stakeholder meet at NABARD Headquarters in Mumbai. Key attendees included financial institutions, investors, AIF managers, and agri-startups.
Objectives and Focus Areas
- Objectives: Foster an ecosystem that enhances financing opportunities for the agriculture sector, particularly benefiting small and marginal farmers.
- Focus Areas:
- Innovation in agriculture technologies.
- Strengthening the farm produce value chain.
- Developing rural infrastructure.
- Creating employment opportunities.
- Supporting Farmers Producer Organizations (FPOs).
- Specific Initiatives:
- Encouraging IT-based solutions for agriculture.
- Promoting machinery rental services for farmers.
Management and Operations
- Fund Manager: NABVENTURES, a wholly-owned subsidiary of NABARD, will manage AgriSURE.
- Duration: The fund is designed to operate for 10 years, extendable by two or more years as needed.
AgriSURE Greenathon 2024
- Purpose: Launched alongside the fund, the AgriSURE Greenathon 2024 is a hackathon aimed at addressing critical challenges in agriculture through innovative solutions.
- Themes:
- Smart Agriculture on a Budget: Overcoming cost barriers to advanced agriculture technologies.
- Turning Agri-Waste into Profit: Transforming agricultural waste into profitable ventures.
- Tech Solutions for Regenerative Agriculture: Promoting economically viable regenerative agriculture practices.
- Call to Action: NABARD invites participation from young innovators to contribute towards advancing India’s agricultural sector under the theme of ‘Viksit Bharat’.
Conclusion
AgriSURE represents a significant step towards enhancing agricultural innovation and sustainability in India. By fostering public-private collaboration and supporting disruptive solutions, the initiative aims to catalyze transformative growth in the agriculture sector, benefitting farmers and stakeholders across the country.
