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Chouhan Launches AgriSURE Fund

By TIOL News Service

NEW DELHI, SEP 04, 2024: IN a significant development for the agricultural sector, Union Minister for Agriculture and Farmers' Welfare and Rural Development, Shivraj Singh Chouhan, yesterday launched the AgriSURE Scheme in New Delhi. AgriSURE - Agri Fund for Start-ups & Rural Enterprises is an innovative fund which is a pioneering step toward revolutionizing the agricultural landscape in India. With a focus on technology-driven, high-risk, high-impact ventures, AgriSURE is designed to fuel growth and foster innovation in the agricultural and rural start-up ecosystem. A Blended capital fund of Rs 750 crore with SEBI Registered Category II, Alternative Investment Fund (AIF), contributions from the Government of India is Rs 250 crore, NABARD is Rs 250 crore, and Rs 250 crore is being mobilized from banks, insurance companies, and private investors.

The launch event was graced by several distinguished guests, including Union Ministers of State for Agriculture and Farmers' Welfare, Bhagirath Choudhary and Ram Nath Thakur and Secretary, Ministry of Agriculture and Farmers Welfare, Dr Devesh Chaturvedi. The gathering also included senior officials from the Ministry of Agriculture, Ministry of Finance, representatives from leading banks, state government officials, and key stakeholders from the agricultural community.

In his keynote address, "Shivraj Singh Chouhan highlighted the transformative potential of the newly launched initiatives. The Minister mentioned that, the launch of the AgriSURE Fund is a continuation of previous efforts of the government  to ensure that every farmer in India has the technological support needed to thrive."  He further advocated that farmers' prosperity will lead to a prosperous economy as farmers start spending their fortune on consumption and that farming is the backbone of the country with farmer being the life blood.

Chouhan further elaborated on the government's commitment to supporting the farming community, stating, "Our vision is to empower every farmer and the launch of the AgriSURE Fund is a testament to our unwavering dedication to the agricultural sector. The government will relentlessly strive towards ensuring increased production, reduced cost of production for farmers, remunerative prices for farmers, crop diversification, preventing post-harvest loss and safe guard during crop loss through crop insurance"

The event preceded the conferring of the AgriSURE Greenathon Awards, to the most innovative start-ups developing tech-centric solutions to address challenges faced by farmers across various stages of the agri-value chain, from selection of input to marketing and value addition. Greenothon was launched on 12 July 2024 at Mumbai and its Grand Finale with 10 finalists was held before the launch. Out of 2000 budding Agri Start-ups, over 500 prototypes were screened, with 10 finalists pitching their ideas. The top three start-ups-Greensapio, Krushikanti, and Ambronics-were selected as the Winner, Runner-Up, and Second Runner-Up, respectively, from a total of 10 finalists. With a prize pool of Rs 6 lakhs, the Greenathon not only rewarded excellence but also provided a platform for start-ups to present their ideas to a broad network of stakeholders for future collaboration.

During the event, Devesh Chaturvedi, stressed the critical need for start-ups in agriculture to solve farmers' problems.

The event was a convergence of various stakeholders, including representatives from state governments, banks, investment community and start-ups, who came together to witness the occasion of launch of AgriSURE, a blended capital fund for start-ups and rural enterprises, which is a first of its kind of product in India agriculture start-up ecosystem.

With the introduction of the AgriSURE fund, the government aims to further drive investments in the agriculture sector that will empower farmers and boost the rural economy through accelerating accessible and affordable innovative solutions.


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