Jindal Stainless Ltd. has formed the collaboration with the Japanese company Future Venture Capital Company Ltd. (FVCCL) to launch an incubation centre for agritech startups in India.
The announcement was made at the ‘Krisi Unnati’ event organised by the Confederation of Indian Industry (CII) in Bhubaneswar. Reportedly, the deal agreement has already been signed and around 5-10 startups will be selected for incubation.
Led by Ratan Jindal, Jindal Stainless is the largest integrated stainless steel manufacturing company in India. As per Wikipedia, Jindal Stainless ranks eighth in the world and has its manufacturing plants in Hisar and Jajpur (Odisha).
The incubation centre will also have a coworking space along with an international standard laboratory. The selected agritech startups will get an opportunity to network with Japanese companies via an intensive programme led by experienced mentors.
As shared by Abhyuday Jindal, Vice Chairman of Jindal Stainless Ltd, the coworking space for the incubation centre will be located at Jindal Stainless’ office complex at Gurugram and alongside their office at Bhubaneswar and laboratories across intervention areas.
He further added, “With their (FVCCL’s) experience in the area of supporting agritech startups, I am confident that farmers will increase their incomes through a concerted effort of market-led production and resilience enhancement. Such collaboration will lead to a positive social impact on communities and contribute towards inclusive growth and development.”