‘Innovators for Bharat’ launched by SBI Foundation and Villgro for agritech startups
In order to assist 14 creative agritech startups, the SBI Foundation and Villgro have started the “Innovators for Bharat” program. The program is enabling an additional amount through NBFC partner NABKISAN, for a total of Rs 6 crore in support for these startups, on top of the initial funding of Rs 3.25 crore.
The initiative seeks to assist early- and growth-stage businesses in addressing the problems associated with agriculture and the effects of climate change. The program aims to increase the income and sustainability of smallholder farmers by supporting technological solutions.
Bharat Rohan, RAAV Techlabs, Navork Innovations, Marut Drones, GreyMatter (Upaz), Carbon Masters, Raheja Solar, Ekosight, Pasidi Panta, Agrosperity (Kivi), Krimanshi, RuKart, GreenSupply, and E-Feed are among the fourteen startups that have received support. Utilizing agricultural waste, lowering post-harvest losses, and lowering CO2 emissions are the main goals of these startups.
The initiative hopes to improve 10,000 people’s lives, encourage sustainable practices on 60,000 acres, and stop 15,000 tonnes of CO2 emissions in the next two years.
The SBI Foundation will provide funding support for the program in addition to a network of banking and financial institutions for mentorship and partnerships for field trials. Previously, Villgro has backed 323 social enterprises that have positively impacted over 20 million lives by raising over Rs 438.8 crore in investments and creating 4,922 jobs. Through strategic partnerships, the CSR division of the State Bank Group, SBI Foundation, works throughout India to provide resources to communities that are at risk.
