Bringing together investors and agribusiness entrepreneurs on a common platform the Agri-Business Incubation (ABI) program of the ICRISAT Agribusiness and Innovation Platform, provided a forum for innovators to present their business ideas for funding support. Five agribusiness ventures focussing on ready-to-eat foods, farm mechanization through drone technology, meat franchises, organic e-retailing and fruit preservation technology were identified by investors for funding and business incubation support.
Over 32 entries (see box for categories) were found eligible and 10 business ideas were shortlisted for presentation to the panel of investors which had representatives from Omnivore Partners, Angel Investor-Malaxmi, Caspian Impact Investment, UnLtd Hyderabad, Villgro Innovations Foundation and CSS Tech Energy Ltd.
“Apart from investment, we are looking for incubation, mentoring and marketing support. ABI can help us source quality grains and legumes from the farmers directly at competitive prices,” said Ms Shruti Krishnakumar of Chennai Chef, marketers of millet and legume-based foods.
The camp was organized on 12 June. The selected entrepreneurs would receive funding support from investors and Government of India’s Technology Development Board’s seed-fund.