IITM’s incubation cell, Samunnati Foundation to support Indian agritech startups
Both organisations will promote agritech startups to improve farmers’ income, reduce waste & encourage sustainable agriculture.
IIT Madras Incubation Cell (IITMIC) has joined hands with Samunnati Foundation, a non-profit subsidiary of Samunnati Financial Intermediation and Services Pvt Ltd, to encourage innovative technologies in agriculture and allied areas in India.
The two organisations have signed a Memorandum of Understanding (MoU) to promote agritech startups to improve farmers’ income, reduce waste and encourage sustainable agriculture. Through the partnership, the organisations will provide incubation support/facilities to entrepreneurial ventures, prepare position papers and propose policy recommendations.
The collaboration ties into Samunnati Foundation’s goal of creating a tangible difference in the lives of entrepreneurs among unserved/underserved agricultural communities. By partnering with IITMIC, Samunnati aims to provide strategic and operational guidance, training, mentoring, networking, and other necessary resources to help India’s visionary agritech startups establish themselves and scale their presence.
Anilkumar SG, Founder and CEO, Samunnati, said, “We as a country are witnessing a buoyancy in the entrepreneurial energy especially in agriculture. It is heartening to see several youngsters from IITs/IIMs taking up entrepreneurship in agriculture. We also see a lot of private capital flowing into these young start-ups.”
Ashok Jhunjhunwala, president, IITMIC, said, “The partnership focuses on encouraging innovative technologies in agriculture and allied areas. We will work together in developing the ecosystem necessary to support entrepreneurs and jointly incubate startups in this space. The 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.”
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