A total of 115 start-ups are currently being incubated, accelerated and graduated from across the country by the Agri Business Incubation Foundation (ABIF) at IIT Kharagpur. Out of 115, 37 Start-ups successfully participated in the ABIF Start-up EXPO 2024 organized from 24th – 25th October, 2024. Shri Partho Saha, CGM OFDD, NABARD, Mumbai attended the EXPO as the Chief Guest in the presence of Prof. Rintu Banerjee, Deputy Director, IIT Kharagpur; Shri P.K Bhardwaj CGM NABARD WBRO; Prof. Madan Kumar Jha, HOD, Agriculture and Food Engineering Department and Shri K.V Iyer, Director ABIF along with other senior professors.
Shri Partho Saha, CGM OFDD, NABARD & Chief Guest of the event in his keynote address, emphasized the critical role that start-ups and entrepreneurs play in creating employment opportunities and driving the economy forward. He emphasized on strengthening the rural SME sector, increasing efficiency of rural value chains and how agri-tech start-ups play a vital role in fulfilling these mandates.
“Just like a successful movie or a symphony is a culmination of various efforts, the Start-up EXPO 2024 is a convergence initiative of IIT Kharagpur and NABARD with participation of investors, FPOs and students envisaged to make it a successful event for the ABIF supported start-ups,” remarked the Guest of Honour Shri P.K Bhardwaj, CGM West Bengal Regional Office, NABARD.
Over two days, ABIF start-ups displayed their products and services to a wide audience comprising of investors, fund managers, professors, farmers, students etc. Product based start-ups displayed their products whereas machinery and service based start-ups were displayed through audio visual. Start-ups participated in Pitch Presentation Competitions in front of an expert panel comprising of investors, professors and fund managers to acquire seed money assistance from ABIF along with expert sessions.
The host and Chief Convener of the EXPO, Prof. Rintu Banerjee, Acting Director, IIT Kharagpur highlighted the activities by IIT Kharagpur to foster entrepreneurship and the start-up ecosystem through convergence among its various incubators like ABIF, AI4ICPS, SATHI, STEP and Research Park.
“What you are doing or what you are going to do will have a great impact in making India the 3rd largest economy in the world, therefore have patience and simply remember that farmers’ prosperity is the utmost priority,” said Mr. K V Iyer, Director ABIF to the participating start-up community.
Notable winners in the graduation stage were Syangbos Living Food and Beverages Pvt Ltd, Rural Rise Agrinery LLP and Tender Buds Tea & Crafts Pvt Ltd who won the seed grant of Rs 5 lakhs. Rudranjali Innovative Agritech Pvt Ltd, Aati Pual Mushroom Pvt Ltd and Rhodotion International Pvt Ltd, were awarded with a seed grant of Rs. 1 lakh each. In the acceleration stage, Bisuddha Enterprises, Savrog Udyog Pvt Ltd, Farm Genesis Technology Pvt Ltd, Shri Charbhuja Jaivik Farm, Aqua Doctor Solutions and PR Linseed Based Products were awarded Rs. 2 lakhs each as seed money. The 1st prize of Rs 2 lakhs for the best stall went to Kaffa Kuwwa Innovations Pvt Ltd with Ramanjali Organics winning the second runner up prize of Rs 1 lakh and Anwesha Jena from Makkai with the third runner up prize of Rs. 50000.
About ABIF:
Agri Business Incubation Foundation (ABIF) is a section-8 company incorporated under the Companies Act, 2013 at IIT Kharagpur. Funded by the National Bank for Agriculture and Rural Development (NABARD) and hosted by Agricultural and Food Engineering (AgFE) Department, IIT Kharagpur, ABIF is mandated to incubate, accelerate and graduate innovative ideas in agriculture, rural development, and allied domain for creating entrepreneurs and start-ups. ABIF is dedicated to execute the graduation of 125 Incubatees over the span of 5 years in Agriculture and allied activities; transfer low cost technologies at AgFE to small and marginal farmers; transfer action oriented climate smart and low cost technologies to rural community; Direct/Indirect employment generation to 1250 rural people and disseminate technologies developed through ABICs to benefit 25,000 farmers. The initiatives by ABIF at IIT Kharagpur manifests its commitment to the service of the nation and is expected to have a lasting positive impact on the start-up ecosystem across the country.
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Inputs by: Mr. Manu Prem, CEO, ABIF, IIT Kharagpur
Email : ceoabif@iitkgp.ac.in
By : Poulami Mondal, Digital & Creative Media Executive (Creative Writer)
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