IITMIC and Samunnati Foundation collaborate to jointly incubate Indian agritech start-ups

Our Bureau | | Updated on: Dec 09, 2021
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The two organisations have signed a MoU to promote agritech start-ups to improve farmer incomes, reduce waste and encourage sustainable agriculture

IIT Madras Incubation Cell (IITMIC) and Samunnati Foundation will collaborate to jointly incubate and support Indian agritech start-ups, scale up their businesses and encourage sustainable agriculture. This will encourage innovative technologies in agriculture and allied areas in India.

The two organisations have signed a MoU to promote agritech start-ups to improve farmer incomes, reduce waste and encourage sustainable agriculture. Through this partnership, the organisations will provide incubation support/facilities to entrepreneurial ventures, prepare position papers and propose policy recommendations.

“The collaboration ties into Samunnati Foundation’s goal of creating a tangible difference in the lives of entrepreneurs among unserved/underserved agricultural communities. By partnering with IITMIC, Samunnati aims to provide strategic and operational guidance, training, mentoring, networking, and other necessary resources to help India’s visionary agritech start-ups establish themselves and scale their presence,” said a joint press release.

Encouraging innovative technologies

Ashok Jhunjhunwala, President, IIT Madras Incubation Cell and IIT Madras Research Park, said that the partnership focusses on encouraging innovative technologies in agriculture and allied areas. Both will work together in developing the ecosystem necessary to support entrepreneurs, and jointly incubate start-ups in this space. This partnership will offer mentoring support for product development, advisory services, networking for business development, training, funding assistance and technological support and will focus on strengthening the agriculture entrepreneurial ecosystem.

According to SG Anilkumar, Founder and CEO, Samunnati, the aim is to catalyse this entrepreneurial energy by collaborating with premier institutions to incubate, nurture and scale these ideas which can transform the agri space in this country with focus on the small holder farmer.

The key areas and technologies which will also be jointly explored, specifically under sustainable agriculture include promotion of alternative crops, adopting a green agricultural ecosystem-green agricultural machinery, solar pumps, finance related technology products, electric vehicles for agri transport, food processing technologies and support services for agricultural community. It also includes supporting farmers through enabling purchase and sale of produce, finance, insurance against price and weather fluctuations, agricultural advisories, transport & agricultural machinery hire and labour hire, the release said.

Published on December 09, 2021

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