(MENAFN- KNN India)
Bengaluru, Oct 15 (KNN) The SBI Foundation, in collaboration with Villgro, unveiled its new 'Innovators for Bharat' portfolio, highlighting 14 cutting-edge agri-tech startups that aim to transform Indian agriculture.
The launch event, hosted at the Bangalore International Centre, attracted senior officials from SBI Foundation, Villgro, NABKISAN, and other industry stakeholders, including investors, CSR leaders, and channel partners.
Sanjay Prakash, MD and CEO of SBI Foundation, emphasised the initiative's objective of fostering innovative technologies that will enhance the incomes and sustainability of smallholder farmers.
“We aim to develop tech solutions from these start-ups, ultimately improving the income of smallholder farmers and making their businesses more profitable and sustainable,” Prakash said during the launch.
The program's portfolio includes 14 startups addressing diverse agricultural challenges. Startups like Bharat Rohan, Marut Drones, and GreyMatter (Upaz) focus on reducing post-harvest losses, while others, such as Carbon Masters and Raheja Solar, are pioneering solutions to tackle carbon emissions and create value from agricultural waste.
Prominent among the recognized startups were Navork Innovations, Krimanshi, RuKart, and E-Feed, each contributing innovative solutions aimed at improving profitability and sustainability in agriculture.
The initiative seeks to impact 10,000 individuals, promote sustainable farming practices across 60,000 acres, and prevent the emission of 15,000 tonnes of CO2 over the next two years.
The financial architecture of the program involves an initial investment of Rs 3.25 crore from SBI Foundation. Maithili Rege, Associate Lead, Agriculture & Climate Action at Villgro, announced that NABKISAN, the NBFC partner, would unlock nearly Rs 3 crore in catalytic capital, bringing the total fund availability for the startups to Rs 6 crore.
Under the collaborative framework, SBI Foundation provides not just funding but also access to a network of financial institutions for mentorship, while Villgro ensures technical support, market linkages, and field trials with the help of civil service organisations.
This comprehensive support is designed to enable startups to scale rapidly and create meaningful environmental and social impact.
'Innovators for Bharat' is a flagship initiative of SBI Foundation, reflecting its commitment to fostering indigenous innovations in critical areas like agriculture, climate resilience, health-tech, fintech, and technology for good.
This partnership with Villgro empowers social entrepreneurs to transform Indian agriculture, enhancing profitability, promoting nutrition, and driving sustainability.
The program reinforces SBI Foundation's mission to accelerate social innovation and tackle pressing challenges through indigenous, impactful solutions.
(KNN Bureau)
MENAFN15102024000155011030ID1108781608
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.