Bihar Agricultural University to develop startup ecosystem for state's economic growth

NEW DELHI: Bihar Agricultural University, Sabour is working towards market-driven agriculture by promoting Agro-based start-ups to uplift the socio-economic status of more than 10 crore farmers of Bihar and neighbouring states.

The collaboration is the blend to give high trajectory to farmer’s income, employment generation, and economic growth of Bihar and neighbouring states.

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Two programmes are now being run by SABAGRIs. Pre-seed stage and seed stage incubation help shape-up the unique company idea in any area of agriculture, from conception and validation through to commercialization stage of business.

SABAGRIs is working to establish a start-up with a unique business concept in the agricultural sector. 37 of the 77 agri-startups that SABAGRIs have incubated so far have received funding through the R-ABI programme from the Ministry of Agriculture and Farmers of India (MoA&FW), New Delhi, in order to assist and establish their various business ideas.

A total of 4.25 crores of rupees have been accepted for funding, which will be distributed to 37 start-ups in instalments accordance with each one's approved milestones following the execution of a legal agreement between the start-ups and SABAGRIs, BAU, and Sabour.

The Department of Industries, Bihar's government, has authorised E-Cell to expand the startup ecosystem in the district of Bhagalpur in order to further this programme.

A formal MOU is signed on October 4, 2023 between Bihar Startup Fund Trust (BSFT), Department of Industries, Govt of Bihar and Bihar Agricultural University, Sabour in the event “Bihar Innovation Challenge and Expo-2023” organised by DoI, GoB.

The MOU is signed between Anil Kumar Singh, Director Research, BAU, Sabour and Shri Pankaj Dixit, Director, Department of Industries, GoB in the gracious presence of Secretary, DPIIT, Shri Rajesh Kumar Singh, IAS; Development Comissioner Shri Vivek Kumar Singh, IAS; and Additional Chief Secretary Shri Sandeep Poundrik, IAS. The importance of this MOU is that, it will improve per capita income, employment generation, and farmer’s benefit in Bihar state.