Under this program, Seed Stage Funding (SSF) as Grant in aid to Startups of RKVY-RAFTAAR scheme will be available to selected incubates of R-ABI IGKV as per guidelines. Financial assistance of maximum upto Rs. 25 lakhs will be granted to potential startups that have a minimum viable product (MVP) based on innovative solutions/processes/products/services/business model in agriculture and allied sectors. The amount of Rs. 25 lakhs is the upper limit of the seed fund assistance.
The applicant incubatees would be provided funds as per their genuine requirements and as per appraisal/evaluation of their business plan by the RKVY-RAFTAAR Selection & Monitoring Committee (RIC) and the decision of the RIC in this regard will be final.
The RIC will not be bound to give any reason in case an application for seed loan is rejected.
This support will assist the incubatees to launch their products/services/business platforms etc into the market and help them to the scale-up their operational as well as to attain business viability at a faster pace.
This support will also facilitate them to attract investments from angel/venture capitalists or taking loan from commercial banks, financial institutions for further scaling up of their business operations.
With respect to above, a call for application is invited from students/youth of India having a minimum viable product (MVP) based on technological solutions/processes/products/services/business platforms etc. in agriculture and allied fields and wants to start an agri-business venture for Seed Stage Funding as Grant in aid to startups under RKVY-RAFTAAR scheme.
The applicant should be a resident of Chhattisgarh/a resident of neighboring states of Chhattisgarh/will be setting up the project in Chhattisgarh, if incubated with IGKV R-ABI, Raipur.
All incubatees of R-ABI IGKV will be eligible for this funding after completion of two months training on the basis of consistent performance evaluated by R-ABI IGKV Incubation Committee (RIC)
The recipient should be a registered legal entity in India
The recipient has to be an Indian startup as per DIPP notification. This support is not meant for Indian subsidiaries of MNCs /foreign company