IIM Kashipur’s Foundation for Innovation and Entrepreneurship Development (FIED) and E-Cell recently organised the 7th edition of Uttishtha, the biggest agri start-up expo in India. The two-day event showcased a number of forward-thinking startups run by bright young people from all around the nation, who presented their products and services that support the agricultural industry and its supporting ecosystems.
The event also provided a platform for the startups to pitch their ideas to investors, mentors, and experts, and secure funding of approximately Rs 15 crore to bolster the ecosystem. According to the official statement made by IIM Kashipur, “A total of Rs 14.6 crores has been disbursed to startups under startup support schemes out of which Rs 1.35 crore have been sanctioned to 13 Agri-focused startups in FY 23-24 by RKVY RAFTAAR RABI scheme by Ministry of Agriculture & Farmers Welfare and Rs 2.89 crores have been sanctioned to 13 startups under Startup India Seed Fund Scheme.”
Some of the brilliant startups that have raised funding from outside venture capital firms and angel investors with the aid of IIM Kashipur’s FIED are Bijak, Loopworm, Greenpod Labs, InfyU Labs, Agronxt, Industill, and Ikayu Foodlabs, who have collectively raised Rs 320 crore and more. These startups operate in diverse sectors such as drone technology, agri supply chain, food processing, hydroponics, waste to wealth, and agri biotechnology.
The event also featured impactful initiatives such as the Scaleup Pitchathon, a national live startup pitching competition in which the top three creative ventures were chosen from a pool of more than 100 government-recognized startups and competed for a prize of Rs. 1.5 lakh to become the best startup.
The agri start-up fiesta was a successful demonstration of IIM Kashipur’s vision to promote innovation and entrepreneurship in the agriculture sector and support the growth of the startup ecosystem in India.