Delhi-based Pusa Krishi Incubator, the agri-focussed incubation centre of ICAR or the Indian Council of Agricultural Research’s Indian Agricultural Research Institute (IARI) has launched a first-of-its-kind Indo-Brazil agritech cross-border agritech incubation programme called Maitri 2019. The programme will also provide agritech startups access to the global market through mutual benefits and shared learning.
The selected startups will be a part of a six-month programme in India and Brazil, where they will get to experience workshops, networking events and mentorship opportunities, as well as pitch ideas to investors and other stakeholders in both countries.
According to ICAR press statement, this programme is a cross-border partnership between the two countries where five agritech startups from India and Brazil will be participating in the startup exchange programme.
The agritech startups were selected on the basis of Startup India guidelines, where the products or services offered by the startups are commercially viable. The startups were screened by sector-specific experts and investors, alongside Brazil ambassador to India Andre Aranha Correa do Lago and Neeru Bhooshan, the CEO of Pusa Krishi Incubator among others.
Furthermore, the selected Indian startups will get a chance to visit Brazil where all the expenses will be supported by the Department of Science and Technology. Similarly, the selected Brazillian agritech startups will also be supported by the Brazil Embassy during their visit to the country.
Agriculture in India is a $400 Bn industry. Over the years, investors are infusing capital in agritech startups that work towards revolutionising farming. According to Inc42 DataLabs, there are more than 1,090 agritech startups in India, and the total funding in agritech startups grew from $46.1 Mn 2017 to $66.6 Mn in 2018.