TNAU disburses Rs 8.98crore grants to 85 agri-startups

COIMBATORE: Tamil Nadu Agricultural University (TNAU) has disbursed grants totalling Rs 8.98 crore to 85 agri-startups since 2019 under the Rashtriya Krishi Vikas Yojana – Remunerative Approaches for Agriculture and Allied Sectors Rejuvenation (RKVY-RAFTAAR).

This flagship scheme of the Union ministry of agriculture and farmers’ welfare aims at strengthening infrastructure in agriculture and allied sectors.These allied sectors include crop husbandry (such as horticulture), animal husbandry, fisheries, dairy development, agricultural research and education, forestry and wildlife and other agricultural initiatives and cooperatives.TNAU registrar and acting vice-chancellor R Thamizh Vendan said the initiative played a crucial role in encouraging youth to remain in the agricultural sector and in enabling startups to adopt innovative, sustainable and profitable agribusiness models.TNAU is one of 24 RKVY-RAFTAAR Agribusiness Incubators (R-ABIs) identified by the central govt to promote agripreneurship and a robust agri-business ecosystem. The university facilitates financial support to promising agri-startups while providing a nurturing environment for business incubation.Under the scheme, TNAU runs two key programmes: the Agripreneurship Orientation Programme (AOP), which offers grants of up to Rs 5 lakh, and the Startup Agribusiness Incubation Programme (SAIP), which provides grants of up to Rs 25 lakh.According to sources, RKVY-RAFTAAR is implemented as a centrally sponsored scheme with a funding ratio of 60:40 between the Union and state govts.