SBI Foundation and Villgro have launched a new program called ‘Innovators for Bharat’ to help 14 promising agritech startups. The program was introduced at the Bangalore International Centre, with representatives from SBI Foundation, Villgro, NABKISAN, and other industry experts present at the event.
Purpose and Vision of the Program
The ‘Innovators for Bharat’ program is designed to support early-stage and growing agritech startups that focus on solving big challenges in the agricultural sector. These challenges include climate change, sustainability, and improving farmer incomes.
Sanjay Prakash, the Managing Director and CEO of SBI Foundation, said that the vision of this program is to help startups develop technology that improves the lives of small farmers, making their work more profitable and sustainable. He also emphasized the need to address climate change and make agriculture more resilient in the future.
The solutions developed by these startups will help farmers reduce post-harvest losses, increase profits, and cut down environmental impacts, especially by lowering CO2 emissions.
Funding and Support for Startups
The program has received initial funding of Rs 3.25 crore from SBI Foundation, with additional support from NABKISAN, bringing the total amount to Rs 6 crore. This funding, called “catalytic capital,” will help the 14 selected startups expand their operations and bring their innovative technologies to market.
Some of the startups include Bharat Rohan, RAAV Techlabs, Navork Innovations, Marut Drones, and others. These companies focus on a wide range of agricultural innovations, from reducing waste to minimizing post-harvest losses.
The program aims to make a positive impact by helping 10,000 farmers, promoting sustainable farming practices on 60,000 acres of land, and preventing the release of 15,000 tonnes of CO2 into the environment over the next two years.
Collaboration and Mentorship
The ‘Innovators for Bharat’ initiative is a partnership between SBI Foundation and Villgro, combining financial support and expertise. SBI Foundation not only provides funding but also connects startups with a network of banking and financial institutions for mentorship.
Villgro contributes by offering mentorship, technical support, and access to market opportunities, ensuring that startups can grow and succeed. Villgro also helps startups carry out field trials and pilot projects in collaboration with other organizations to test their technologies in real farming conditions.
Long-term Impact of the Program
The ultimate goal of the ‘Innovators for Bharat’ initiative is to promote sustainable agriculture in India. By offering both financial and technical help, the program aims to empower startups to develop climate-resilient, sustainable, and profitable solutions for farmers.
The focus on reducing carbon emissions and promoting sustainable farming practices aligns with global efforts to address climate change while improving farmer livelihoods. This initiative is part of SBI Foundation’s larger mission to drive social innovation in key sectors like agriculture, climate change, and financial inclusion.
