The seventh iteration of the largest agricultural startup expo, “Uttishtha 2024,” has concluded with great fanfare after two days of showcasing talent, innovation, and creativity. Organized by the Foundation for Innovation and Entrepreneurship Development [FIED] and E-Cell at IIM Kashipur, the event highlighted several forward-thinking startups led by bright young individuals from all around the nation.
Various startups received funding from IIM Kashipur’s FIED, including Krushika Naturals Pvt. Ltd. (INR 25 Lakhs), Himshilpi Hunar LLP (INR 5 Lakhs), Zarin Gourmet Pvt Ltd (INR 25 Lakhs), MyPahadiDukan (INR 25 Lakhs), BABA Agrotech (INR 20 Lakhs), SS Agriculture Innovations Pvt Ltd (INR 5 Lakhs), and Svastha Samriddhi Pvt Ltd (INR 25 Lakhs). This financial support aims to catalyze the growth of these ventures and contribute to the entrepreneurial ecosystem.
A cumulative disbursement of INR 14.6 Crores has been allocated to startups through various startup support schemes. Of this, INR 1.30 Crores has been sanctioned to 13 Agri-focused startups in the fiscal year 2023-24 through the RKVY RAFTAAR RABI scheme by the Ministry of Agriculture & Farmers Welfare. Additionally, INR 2.89 Crores has been sanctioned to 13 startups under the Startup India Seed Fund Scheme.
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Leveraging the support of IIM Kashipur’s FIED, notable startups like Bijak, Loopworm, Greenpod Labs, InfyU Labs, Agronxt, Industill, and Ikayu Foodlabs have successfully secured over INR 320 Crores in funding from external venture capital firms and angel investors. Since its establishment in 2018, IIM Kashipur FIED has played a pivotal role in the Ministry of Agriculture & Farmers Welfare’s RKVY RAFTAAR RABI scheme, providing funding and business training to 200+ startups, with a particular emphasis on 68 ventures focused on agriculture.
The agricultural fair saw the active participation of 100 promising agri-startups and community-focused businesses from the hills of Uttarakhand. These participants showcased their products and services dedicated to supporting the agricultural industry and its associated ecosystems.
IIM Kashipur introduced impactful initiatives, including the Scaleup Pitchathon, a national live startup pitching competition. From a pool of over 100 government-recognized startups, the top three creative ventures competed for a prize of INR 1.5 lakh, vying for the title of the best startup.
Prof. Kulbhushan Balooni, Director of IIM Kashipur, expressed the institution’s dedication to bolstering the startup ecosystem on multiple fronts. This commitment involves actively engaging academic members to train and support incubatees, ensuring they receive comprehensive assistance. Prof. Balooni emphasized the crucial role of continued support from the Government of India in sustaining incubators’ activities across higher education institutions. Highlighting IIM Kashipur’s commitment to regional development, he mentioned the institute’s efforts to assist agri-tech enterprises based in Uttarakhand, setting it apart among the leading B-schools.
Since its establishment in 2018, FIED has successfully incubated 189 startups, leading to the creation of over 3000 jobs. IIM Kashipur’s impact has extended to benefit more than 7 lakh farmers, underscoring its commitment to driving positive change in the region.
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Prof. Safal Batra, managing director of FIED and chairperson of E-Cell at IIM Kashipur said, “Throughout India, we are recognized as leaders in entrepreneurship. NITI Ayog, Govt of India has granted Atal Community Innovation Centre to IIM Kashipur. We are working with farmer producer organizations in Uttarakhand at the grassroots level, similar to us, where we plan to train 15 FPO. In the future, this center will become as prominent as the achievements it has garnered.”
Udaan 7.0, the National Business Plan Competition, is another notable initiative providing a platform for aspiring students to showcase their creative ideas to professors and industry professionals. The top 7 teams, out of over 300, earned a total of INR 50,000 in cash prizes.
During Uttishtha ’24, IIM Kashipur FIED recognized and honored 13 agriculture-focused startups, granting them a total sanction of INR 1.30 crores, with support from the Ministry of Agriculture & Family Welfare.