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India confers top accolade on ICRISAT’s Agri-Business Incubator for fostering entrepreneurship

Dr Kiran Sharma, Deputy Director General–Research, and Jonathan Philroy, Manager, ABI, accepting the award from Dr Mahendra Nath Pandey, Minister of State for Skill Development and Entrepreneurship, Government of India

ICRISAT’s Agri-Business Incubator (ABI) was recently recognized by the Indian government with a top accolade for its contributions towards entrepreneurship promotion in India.

The recognition came in the form of a National Entrepreneurship Award that is given annually by the Government of India’s Ministry of Skill Development and Entrepreneurship (MSDE). ABI was declared winner for this year’s award in the Ecosystems Builder category.

Dr Mahendra Nath Pandey, Minister of State for Skill Development and Entrepreneurship, handed the award to Dr Kiran Sharma, Deputy Director General-Research, ICRISAT, and Jonathan Philroy, Manager, ABI. The incubator is a part of ICRISAT’s Agribusiness & Innovation Platform, which in turn is a part of ICRISAT’s Innovation Systems for the Drylands (ISD) Research Program.

“While recognizing the contributions of ABI to the agri-entrepreneurship ecosystem in India, the award also recognizes the longstanding commitment of ICRISAT and its partnering institutions to support agribusiness
in Asia and Africa, which eventually benefits the farmer,” Dr Sharma, who also heads the incubator, said about the award.

Recognized as the first agri-sector focused technology-based incubator in India, ABI was created in 2003 by ICRISAT with support from the Indian government’s Department of Science & Technology. Over the years, ABI has supported 103 ag-tech start-ups and enterprises from ag-biotechnology to food processing to digital agriculture domains across India.

Start-ups supported by ABI have been able to create over 2,500 direct jobs and mobilize more than US$ 25 million in funding, benefiting over three million farmers in 2018-19 alone. The incubator has helped its incubatees file for 12 patents and trademarks in the last three years. Over 5,000 individuals were trained in agribusiness promotion, skill development, technology commercialization, incubation management and other areas of agribusiness. A growing partner network of governments, mentors, investors and service providers help the incubator in its mandate.

To promote agri-focused enterprises by developing agribusiness incubator networks in India and Africa, ABI mentored 22 incubators in Indian Council of Agricultural Research (ICAR) institutions and State Agricultural Universities, and 11 agriculture value-chain and food processing incubators in eight African countries under initiatives of the Forum for Agricultural Research in Africa (FARA) and the Indian government respectively. These initiatives have since been scaled-up by ICAR, India’s Ministry of Agriculture & Farmers’ Welfare and the African Agribusiness Incubation Network.

ABI has also supported 16 Farmer Producer Organizations (FPO), comprising around 3,000 farmer members in Telangana, Andhra Pradesh and Tamil Nadu on business development models, besides training the FPO management on operations and sustainability. The incubator is also an outreach center to the Government of India’s initiatives on enterprise and innovation promotion.

“Given the focus on start-up promotion and skill development by the Government of India, ABI-ICRISAT is looking to support another 100 ag-tech start-ups in the coming five years to benefit 10 million farmers in dryland tropics and generate over 5,000 jobs in the non-farm sector,” Dr Sharma said while referring to the incubator’s objectives in the coming years.

careers

The Agri-Business Incubator of ICRISAT promotes technology and knowledge driven agribusiness start-ups by providing technical and scientific mentoring, access to infrastructure, business development support, team management, legal support services, and access to funding sources.
The jobs posted in this page are for positions that have been called for by our incubated start-ups, and NOT related to ICRISAT or any of its programs.

Current job openings with ABI-ICRISAT supported Start-ups

LeanCrop Technology Solutions Pvt Ltd is a Pune-based agribusiness start-up that is trying to solve the twin problem of food security and dwindling farm incomes.

Job Title: Agronomy – Technical Officer

To know more the job description, click here

ASPA 2016: Fostering innovative entrepreneurship in the Asia-Pacific region through science and technology parks

Boosting agripreneurship development in Karnataka
L to R: Dr Kiran K Sharma, Dr David Bergvinson, Dr Krishna M Ella, Dr H Purushotham, Dr Hiroshi Uchida and Dr Saikat Datta Mazumdar at the inaugural session of ASPA 2016
Photos:Moksh Interactive Events India

The potential of science and technology parks (STPs) to foster diverse innovative technologies and transform them into successful business enterprises that can benefit society was deliberated upon at the 20th annual conference of the Asian Science Park Association (ASPA). The conference titled – Innovation sharing and collaborative opportunities in Science & Technology for advancement in Asia & Asia Pacific – was the first time that an ASPA annual conference was held in India; ASPA 2016 was jointly organized by ICRISAT and the Hyderabad Visitors Convention Bureau (HCVB) from 19-22 October.

The conference sought to facilitate strong linkages between India and Asia-Pacific countries and their stakeholders in science and technology for cross border exchange of ideas and technologies. Dr Hiroshi Uchida, President, ASPA, urged partners to leverage on the newly acquired Special Consultative Status of ASPA with the United Nations. “I believe this will help us in taking our science park to the global platform,” he said.

Close to 150 industry experts from 11 countries congregated to hear from 30 top management industry experts. Plenary discussions, panel debates and case studies delivered practical insights on where the STP ecosystem is heading to, how STPs should look beyond the conventional government-supported R&D model which is limited in scope and budgets. Some of the case studies illustrated how science parks are playing an important role in the economic development of Taiwan and how unique public private partnerships in South Korea have helped local companies with high growth potential. The conference had technical sessions on cutting-edge kimya mühendisliği maaş issues in this space and leaders in the industry explored in-depth issues pertaining to science and technology parks for start-ups, translational research platforms and challenges and opportunities in public-private collaborations in Asia.

Boosting agripreneurship development in Karnataka
Photos:Moksh Interactive Events India

Dr H Purushotham, CMD, National Research Development Corporation (NRDC), said that the Government of India realizes the importance of Technology Business Incubators (TBIs) and STPs for creating wealth and employment. “All departments have been instructed to create such platforms. NRDC identifies potential R&D outcomes, evaluates it for market potential and helps in its licensing,” he said.

The importance of fostering innovation was reiterated by Dr Krishna M Ella, CMD, Bharat Biotech International Limited and Ms Deepanwita Chattopadhyay, Chairperson and CEO, IKP, Hyderabad. Mr Ram Kaundinya, Independent Board Member, Syngenta India and Axis Bank, said that technologies should get commercialized for the common person to benefit and that STPs have a major role in making this happen. “The policy environment should be futuristic and non-bureaucratic and the role of private sector in driving innovations is important,” he said.

Dr David Bergvinson, DG, ICRISAT, urged all stakeholders to leverage on their synergistic expertise to promote demand-driven innovations to address the needs of the society. “I urge such partnerships to keep in mind the need for addressing global challenges which include poverty, malnutrition, hunger and the looming challenge of climate change as part of their strategic interventions,” he said.

ASPA 2016 also included technical tours to ICRISAT, IKP, T-Hub and Gubba Cold Storage. The ICRISAT team was led by Dr Kiran K Sharma, CEO of AIP; and Chairman of the ASPA-2016 Organizing Committee.

ASPA 2017 will be held in Vietnam.

Boosting agripreneurship development in Karnataka

Boosting agripreneurship development in Karnataka
MoA being exchanged between Dr Salimath and Dr Carberry
Photos:PS Rao, ICRISAT

Giving new dimensions to agripreneurship development and to enhance agricultural growth through innovation and partnerships, a Memorandum of Agreement (MoA) has been signed between the niversity of Agricultural Sciences, Raichur (UAS-R) and ICRISAT. This will lead to setting up an agribusiness incubator (ABI) at the UAS-R campus, in Karnataka, India.

As per the MoA signed, UAS-R and ICRISAT will jointly work towards:

  • Establishment of co-business incubation platform to promote agribusiness and related activities;
  • Technology transfer and exchange in their respective areas of competence to promote agribusiness;
  • Training and support to staff and entrepreneurs to promote agribusiness; and
  • Promotion of R&D and technical collaborations between ICRISAT and UAS-R, through increased involvement of scientific staff.
  • ICRISAT will help identify and promote agribusiness start-ups, as well as facilitate agro-technology transfer in the North Karnataka region, which is expected to enhance the impact of outreach activities for the university.

Entrepreneurs will get technical and business development support in seed production, farm machinery and food processing domains. This will be through technical support to develop business models, capacity building and training for incubator personnel, facilitate strategies and systems for technology commercialization, and consulting services for promotion of agribusiness in the region.

“This partnership with ICRISAT opens a new chapter for the University in promoting technology and agri-based entrepreneurship in the region,” said Dr PM Salimath, Vice Chancellor, UAS-R.

“ICRISAT and its partners have been successful in facilitating the establishment of agribusiness incubators in India and Africa aimed at engaging youth, women and farmers to initiate small and micro-level agribusiness ventures. We hope to achieve similar results through this partnership with UAS-R,” said Dr Peter Carberry, Deputy Director General-Research, ICRISAT.

The handholding and mentoring support for UAS-R will be provided through the co-business incubation initiative of the Agri-Business Incubation Program, that is part of the ICRISAT Agribusiness and Innovation Platform (AIP) that focuses on promoting agribusiness ventures and public-private partnership initiatives in the agricultural sector.

ICRISAT AIP provides prototype innovations, knowledge and expertise, training and co-location with researchers for close interaction; while the entrepreneurs fine-tune the prototypes and take them to market, as well as bearing the risks and reaping the rewards involved.

The MoA was signed on 4 May at the ICRISAT campus in Patancheru, India.

Transforming agriculture into business through an incubation hub in Mali

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Participants at the launch ceremony of the Mali Agri-business Incubation Hub exhibit some of their processed products. Photos:M Diallo, Macina Film

Attracting youth to the agriculture sector by transforming it into a business and offering them new avenues and opportunities to engage along the agriculture value chain will be the focus of the Mali Agribusiness Incubation Hub (MAIH) launched recently.

The incubation hub will primarily focus on Youth Business Incubation (YBI), Agro Processing Business Incubation (APBIU) and Seed Business Incubation Units (SBIU). The hub will promote young entrepreneurs in agro processing products; cereals and fruits; and seed business through skills and services based opportunities.

The hub will operate in a public private partnership mode and will serve the Francophone African countries. It has a ‘hub and spoke’ model located in three institutes: ICRISAT-Mali, Institut d’Economie Rurale (IER), Sotuba and Institut Polytechnique Rural (IPR), Katibougou.

At the launch of the hub more than 50% of the 600 participants registered for the incubation program.

Mr Kassoum Dénon, Malian Minister of Agriculture, appreciated the efforts of MAIH promoters and said, “it is a strategic initiative of the Mali government to transform agriculture into business opportunities and create an enabling environment that can not only create wealth but also maximize employment,” as he called for full ngagement of all other ministries and concerned actors “in a spirit of frank cooperation by pledging support and resources for the success of the activities of the incubator”.

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Demonstration of machines as part of the launch ceremony of the Youth Business incubation (YBI). Photos:A Diama, ICRISAT

“Promotion of agro-ventures in these areas offers lot of scope for entrepreneurship and employment opportunities, meaning that new income sources will open up especially for rural youth and women,” said Dr Bourema Dembele, Chairman, MAIH and Director General, IER.

“One of the unique interventions is the seed business incubation program in which farmer cooperatives are promoted as seed business. Such programs will also be planned and implemented in Africa. ICRISAT will extend all help in implementing such programs to especially benefit the small and marginal farmers of Africa,” said Dr Ramadjita Tabo, Director – West and Central Africa, ICRISAT Mali.

The launching of MAIH was held in two phases. The official ceremony on 22 February was attended 10 minute mail by the Malian Minister of Agriculture and other ministers of the Government of Mali. A second launch, dedicated to the Youth Business Incubation (YBI) was held on 23 February at IPR targeting mainly students and other youth interested in entrepreneurship in agribusiness sector.

“The incubation is a motivation as it breaks the barriers in the agricultural sector, providing opportunities for businesses and wealth creation. If the incubator is well operated, and it focuses on supporting the youth and incubating them to grow into business, it will contribute both in creating jobs and employers,” said Mr Dramane Tounkara, National Coordinator of Global Youth Innovation Network for Mali.

“A proper implementation of the pilot phase of the Mali Agribusiness Incubation Hub program will initiate other incubation activities for young leaders. We want the incubator to bring them necessary encouragement, motivation and guidance,” said Mr Amadou Cisse, Director General, Agency for Youth Employment.”

According to Dr Mahamoudou Famanta, Director, IPR, “Youth Incubator is significant in creating opportunities for youth and changing the livelihood of farmers.”

The event was presided over by Mr Dénon and attended by many dignitaries: Dr Nango Dembele, Minister of Livestock and Fisheries, Mr Konimba Sidibe, Minister of Investment Promotion and Private Sector, Professor Assetou Foune Migan, Minister of Scientific Research, and Mr Mahamane Baby, Minister of Employment and Vocational Training and Mr Jean Larsen, Private Sector Counselor, Embassy of Denmark.

“I started a seeds business at a time when it was difficult to get support from the banking system for agribusiness. I faced a lot of rejections, but I was able to stand with perseverance. Nowadays, thanks to the incubator, young people who want to create enterprises may not have to go through some of that; many opportunities are there but they still need to stand strong and be brave” said Madam Coulibaly Maimouna Sidibe, CEO of a pioneering private seed company, Faso Kaba.

“Youth can now count on good support from the incubator to strengthen their capabilities and help them start their businesses and accomplish their dreams,” said Dr Jean Moreira, Value Chain and Post-harvest Technology Consultant, Africa Rice.

The MAIH is promoted by IER, IPR, Conseil Ouest Africain pour la Recherche et le Développement Agricole/West and Central African Council for Agricultural Research and Development (CORAF/WECARD), African Agribusiness Incubation Network (AAIN) and the Universities, Business and Research in Agricultural Innovation (UniBRAIN) project of Forum for Agricultural Research in Africa (FARA) and ICRISAT. It will benefit from the support of ICRISAT’s Agri Business Incubation program (ABI) of the Agribusiness and Innovation Platform (AIP). The MAIH is part of a mandate given to ICRISAT-ABI by UniBRAIN-FARA and funded by Danish International Development Agency (DANIDA). UniBRAIN has set up six value chain Agribusiness Incubation and Innovation Consortia (AIICs) in five African countries and MAIH will be also strategically supported by AAIN.

Project: Mali Agribusiness Incubation Hub (MAIH)

Partners: Institut d’Economie Rurale (IER), ICRISAT, Institut Polytechnique Rural (IPR), FASAKOBA (Seed Company), Africa Rice, West and Central African Council for Agricultural Research and Development (CORAF/WECARD), African Agri Business Incubation Network (AAIN), Research in Agricultural Innovation (UniBRAIN), and Agence pour la Promotion de l’Emploi des Jeunes (APEJ)

Investor: UniBRAIN-FARA, AAIN and DANIDA

CGIAR Research Program: Dryland Cereals and Grain Legumes

ICRISAT receives ASSOCHAM India-Africa Champion in Biz Awards 2015

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SM Karuppanchetty, COO of ABI Program receives the award for Exemplary Contribution in Agriculture for ICRISAT from Mr Suresh Prabhakar Prabhu, Hon’ble Minister for Railways, Government of India. Photos: ICRISAT

The Agri-Business Incubation (ABI) Program of ICRISAT’s Agribusiness and Innovation Platform (AIP) was recognized in the category ‘Exemplary Contribution in Agriculture’ at the India-Africa Champion in Biz Awards 2015 that was organized by The Associated Chambers of Commerce and Industry of India (ASSOCHAM) on 19 October.
The award recognized the efforts made by ICRISAT through AIP in promoting agribusiness and agribusiness incubation ecosystem in Africa. This includes handholding partners under the Universities, Business and Research in Agricultural Innovation (UniBRAIN) project of the Forum for Agricultural Research in Africa (FARA) wherein six agribusiness incubators were set up in five countries in Africa. ICRISAT is also the implementing agency for the Food Processing Business Incubation Centres project of the Ministry of Food Processing Industries (MoFPI), Government of India under the India-Africa Forum Summit II; these five centers are being set up in Mali, Ghana, Uganda, Cameroon and Angola.

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Agribusiness set to revitalize agriculture in Africa

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(Left photo) Mr Appolo Segawa, Managing Director, CURAD (R) presents products developed by his incubatees to Dr Siambi (L) and other conference participants. (Right photo) Visitors at an incubatee’s stall. Photos: C Wangari, ICRISAT

Agribusiness is poised to unlock the potential of agriculture to drive economic growth and reduce poverty in Africa. This was showcased at the first ever African Agribusiness Incubation Conference organized under the umbrella of African Agribusiness Incubator Network (AAIN). The conference also created a platform to promote successful agribusiness ventures, majority of which are run by women and youth in Africa.

According to a World Bank report, Africa now earns an average of 24% of its annual revenues from its farmers and their crops. The report projected that if public and private sectors were to work together to link farmers with consumers in what the report referred to as “an increasingly urbanized Africa”, agriculture in Africa is likely to be worth US$1 trillion by 2030.
Mrs Sicily Kariuki, Principal Secretary, Ministry of Agriculture, Livestock and Fisheries, Kenya, noted that the role of agriculture in Kenya and Africa at large is of immense value as it remains the main source of livelihoods. “The key to transforming agriculture in Africa depends on how Africa prioritizes and treats agriculture as a business as opposed to treating it as a way of life,” she said. She added that a shift towards commercialization of agriculture temp mail should be the new narrative and reiterated the importance of the conference in showcasing the new platform for both the public and private sectors.
Dr Yemi Akinbamijo, Executive Director, Forum for Agricultural Research in Africa (FARA), informed that FARA had established six agribusiness incubators in Kenya, Mali, Ghana, Uganda and Zambia under AAIN.
Major achievements of the FARA-Universities, Business and Research for Agricultural Innovation (UniBRAIN) incubator initiative are:

  • reating more than 10,000 jobs in five African countries
  • Supported 23,500 households
  • 884 students taken through internship and industrial attachment
  • Facilitated business development for 200 enterprises at local and international markets
  • Supported 140 start-up incubatees
  • Commercialized 72 agro-technologies

Reiterating ICRISAT’s commitment to support agribusiness ventures that are key for transformation of agriculture in Africa, Dr Moses Siambi, ICRISAT Regional Director for Eastern and Southern Africa, in his remarks at opening ceremony said, “The key barriers to successful commercialization of innovative products by small agribusinesses in Africa, particularly by the youth, are high costs of commercialization, lack of human and financial capital, and poor knowledge of markets.”

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Technologies for African Agri-Business Development’ a compendium developed by ICRISAT-ABI in collaboration with the six agribusiness incubators was released during the conference.

This compendium features a diverse range of 26 ready-for-commercialization technologies sourced from the partners and represents different sectors such as crop production and improvement (sorghum, banana, cassava and vegetables), livestock and poultry, food and feed processing, value-addition protocols etc. Interested entrepreneurs in Africa can access these technologies through the incubators. (http://oar.icrisat.org/9064/)

“Product development typically requires large capital investments, and thus access to capital/financial markets is critical to the success of commercialization of new technology,” he said, adding that raising sufficient capital is a major challenge for African entrepreneurs, particularly the youth.

The team from ICRISAT conducted a two-day training program on business incubator sustainability and management for agencies interested in setting up agribusiness incubators in the continent. The team also facilitated the AAIN Elevator Pitch Program, which had 19 start-ups presenting their ventures to the jury. Two categories of awards were presented: Best Agribusiness Incubator and Best Agribusiness Incubatee.

“In Africa, agribusiness has the potential to reduce poverty and drive economic growth and incubation has emerged as a successful mechanism for launching new enterprises by creating an environment where start-ups can be nurtured and allowed to flourish,” said Mr Karuppanchetty during the panel discussion on Agribusiness Incubation Models.
One of the major side events of the conference was the business-to-business (B2B) meetings wherein start-ups got a platform to interact with private sector players regarding their product and business development. The meetings were facilitated by Mr Ambrose Bugaari, Consultant, ICRISAT-ABI.

The Agri-Business Incubation (ABI) Program of ICRISAT, is a key partner for the UniBRAIN project since late 2011, and was entrusted with the task of handholding and mentoring the six Agribusiness Innovation Incubator Consortia (AIIC), and help UniBRAIN scale up the incubator model to other countries within Africa. ABI provided hands-on training in: managing operations, handling client enquiries and services, developing business plans and standard operating procedures for each incubator, technology database development, organizing promotional events, and guidance in infrastructure and systems. ICRISAT helped in developing the AAIN by providing strategic advisory inputs and facilitated its implementation.
The ABI program, is the implementing agency for setting up five Food Processing Business Incubation Centres in Africa, a project of the Ministry of Food Processing Industries (Government of India). ICRISAT plays a vital role in the sustainability of two AIICs selected for this project.

The conference titled “Catalyzing sustainable transformation of Africa’s agriculture through agribusiness incubation: towards job and wealth creation, food security and poverty reduction” took place from 28-30 September at Nairobi, Kenya. It was organized by the UniBRAIN project, FARA and ICRISAT Agribusiness and Innovation Platform (AIP). The conference brought together innovators, start-ups, SMEs, incubators, researchers, academics, industries, development agencies and investors across sub-Saharan Africa.

With UniBRAIN coming to a close by December 2015, the next stage in the journey of transforming agribusiness sector in Africa has already begun with the formation of AAIN. Mr Alex Ariho, UniBRAIN Facility Coordinator from FARA, and who will be the Coordinator for AAIN, summed it up: “Basically we are looking at nurturing incubators in Africa to respond to the needs of agribusiness in Africa and aid in job and wealth creation.” The next edition of the conference will be held during 12-14 September 2016 at Accra, Ghana.

Project: Universities, Business and Research for Agricultural Innovation (UniBRAIN)
Investor: Danish International Development Agency (DANIDA)

Lead agency: Forum for Agricultural Research in Africa (FARA)

Partners: African Network for Agriculture, Agro Forestry and Natural Resources Education (ANAFE); Pan African Agri-Business Consortium (PanACC); ICRISAT-Agribusiness Incubation (ABI) Program; Association for Strengthening Agricultural Research in Eastern and Central Africa (ASARECA); Centre for Coordination of Agricultural Research and Development for Southern Africa (CCARDESA); and West and Central African Council for Agricultural Research and Development (CORAF/WECARD)

Incubators: Consortium for Enhancing University Responsiveness to Agribusiness Development (CURAD), Uganda; Afri-Banana Products (ABP) Limited, Uganda; Creating Competitive Livestock Entrepreneurs in Agribusiness (CCLEAr), Ghana; Agri-Business Incubation Trust (AgBIT); Sorghum Value Chain Development Consortium (SVCDC), Kenya; West Africa Agribusiness Resource Incubator (WAARI), Mali

Agribusiness boot camp

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The ABI Program of AIP organized a one-day boot camp for its private sector partners on Business Development and Fund Raising.

The partners are into various businesses that include production and export of gherkins; manufacturing and marketing of sorghum and millet-based snack foods; greenhouse farming and goat farming; farm ventures; marketing of water softener for agricultural use; marketing and export of bio charcoal; vegetable packhouse business; Farmer Producer Organization (FPO) formation and seed production; and business development of Agromate, a telemetric electronic 10 minuten mail device, which can control a motor pump using a mobile phone. They are currently supported by ICRISAT-ABI’s start-up business incubation program with technical support from the NutriPlus Knowledge Program of AIP.

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Besides mentor-led sessions on marketing, start-up funding and Telangana State Industrial Policy, the camp also provided a platform for sharing and exchange of ideas for business and technical support, mentorship, funding and marketing support.

The event was held on 13 August and was attended by 10 partners.

Indian youth from IT sector show interest in agribusiness

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Youth from the Information Technology (IT) industry are being attracted towards agribusiness and sought information on organic farming, precision farming and IT applications in agriculture.
They were keen on venturing into agribusinesses and adopting scientific methods and practices to make agriculture sustainable on farms in their villages. Other areas of interest for all participants included – protected cultivation, farm planning and technical support from ICRISAT, millet-based food processing technologies, Internet of Things – IT and internet-based applications in agriculture like mobile apps for agriculture information, weather forecast, market information, online trading, etc.

These youngsters visited the AIP-ICRISAT stall at August Fest 2015, a mega startup event, held in Hyderabad, India. At the fest they signed up for the ‘Crawl’ – a visit to the ABI Program. Youngsters from the IT sector accounted for 75 percent of the 55 participants.

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During their visit to ICRISAT, the participants were oriented on the business opportunities available in agriculture and were provided information on the start-ups they were interested in. The visiting group also interacted with three AIP clients who shared their experiences. A competition was also organized for best ideas. Five ideas were presented and two were declared winners.

The Crawl was held at ICRISAT on 30 August. As a follow-up, the ICRISAT-ABI program is in the process of engaging with four to five participants to incubate startups. Based on requests of the participants, two training programs, one on precision farming and the other on organic farming, are being planned.

Agribusiness ventures connect with investors

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Presentation by Ms Shruti Krishnakumar of Chennai Chef.
Photo: S Sharma, ICRISAT

Bringing together investors and agribusiness entrepreneurs on a common platform the Agri-Business Incubation (ABI) program of the ICRISAT Agribusiness and Innovation Platform, provided a forum for innovators to present their business ideas for funding support. Five agribusiness ventures focussing on ready-to-eat foods, farm mechanization through drone technology, meat franchises, organic e-retailing and fruit preservation technology were identified by investors for funding and business incubation support.

Over 32 entries (see box for categories) were found eligible and 10 business ideas were shortlisted for presentation to the panel of investors which had representatives from Omnivore Partners, Angel Investor-Malaxmi, Caspian Impact Investment, UnLtd Hyderabad, Villgro Innovations Foundation and CSS Tech Energy Ltd.

Agribusiness categories

  • Healthy/innovative food technology
  • Innovative packaging technology
  • New post-harvest technologies
  • Internet of Things (IoT) for agriculture
  • ICT tools for sustainable agriculture
  • Farm mechanization
  • Precision farming and protected cultivation
  • Farm-to-fork – improved supply chain technology

“Apart from investment, we are looking for incubation, mentoring and marketing support. ABI can help us source quality grains and legumes from the farmers directly at competitive prices,” said Ms Shruti Krishnakumar of Chennai Chef, marketers of millet and legume-based foods.

The camp was organized on 12 June. The selected entrepreneurs would receive funding support from investors and Government of India’s Technology Development Board’s seed-fund.