Govt to launch Rs 750 crore ‘AgriSURE’ fund to boost innovation in agriculture startups

The initiative aims to support rural enterprises through equity and debt investments, facilitated by NABARD and the Ministry of Agriculture

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New Delhi: To bolster innovation and sustainability in India’s agriculture sector, the Government is set to introduce the ‘Agri Fund for Start-Ups & Rural Enterprises’ (AgriSURE), a Category-II Alternative Investment Fund (AIF) worth Rs 750 crore.
This initiative, announced during a pre-launch stakeholder meeting at NABARD Headquarters in Mumbai, aims to provide crucial financial support to start-ups and agripreneurs through equity and debt investments.
The AgriSURE fund will be supported by an equal contribution of Rs 250 crore each from the Department of Agriculture and Farmers Welfare (DA&FW) and NABARD, with an additional Rs 250 crore raised from various financial institutions. NABVENTURES, a wholly-owned subsidiary of NABARD, has been designated as the fund manager.
Addressing the stakeholders, Ajeet Kumar Sahu, Joint Secretary of DA&FW, emphasized the fund’s potential to create a robust financing ecosystem for the agriculture sector. Shaji K.V., Chairman of NABARD, underscored the importance of public-private collaboration in driving agricultural growth through technological advancements. 
The fund will target high-risk, high-impact activities that can transform agricultural practices and benefit small and marginal farmers. The fund will focus on fostering innovation across the agriculture value chain, building rural infrastructure, supporting Farmers’ Producer Organizations (FPOs), and promoting IT-based solutions and machinery rental services for farmers.
The AgriSURE fund, managed by NABVENTURES, is set to operate for an initial period of 10 years, extendable by two or more years. It aims to address critical challenges in agriculture through initiatives such as the AgriSURE Greenathon 2024, also launched at the event. This hackathon aims to tackle pressing agricultural issues with three main problem statements: “Smart Agriculture on a Budget,” addressing the affordability of advanced agriculture technologies for small farmers; “Turning Agri-Waste into Profitable Business Opportunities,” focusing on converting agricultural waste into viable ventures; and “Tech Solutions Making Regenerative Agriculture Remunerative,” aimed at overcoming economic barriers to adopting regenerative agriculture practices.
NABARD encouraged young innovators to participate actively in the AgriSURE Greenathon, emphasizing their role in contributing to India’s agricultural transformation towards sustainable development. The event was attended by key stakeholders, including financial institutions, investors, AIF managers, and agri-startups.