The IIT-Madras Incubation Cell (IITMIC) has signed an MoU with Samunnati Foundation, a not-for-profit subsidiary of Samunnati Financial Intermediation and Services Private Ltd., to promote agritech start-ups to improve farmers’ incomes, reduce waste and encourage sustainable agriculture.
IITMIC and Samunnati will provide incubation support and facilities to entrepreneurial ventures, prepare position papers and propose policy recommendations. Samunnati aims to provide strategic and operational guidance, training, mentoring, networking and other necessary resources to help India’s visionary agritech start-ups establish themselves and scale their presence.
The areas that they will explore under sustainable agriculture include promotion of alternative crops, adoption of a green agricultural ecosystem and food processing technologies. Support services for the agricultural community will also be provided.
Transforming the sector
S.G. Anilkumar, founder, Samunnati, aims to nurture “entrepreneurial energy by collaborating with premier institutions to incubate and scale these ideas, which can transform the agri space in the country with a focus on the smallholder farmer.”
Speaking on the outcome of this collaboration, Prof. Ashok Jhunjhunwala, president, IITMIC and IIT-Madras Research Park, said the partnership would focus on encouraging innovative technologies in agriculture and allied areas.
“This partnership will offer mentoring support for product development, advisory services, networking for business development, training, funding assistance and technological support, and will focus on strengthening the agriculture entrepreneurial ecosystem,” he said.
