IIT-Madras incubation cell, Samunnati Foundation tie up to promote Agri startups

This partnership will offer mentoring support for product development, advisory services, networking for business development, training and will focus on strengthening the agricultural entrepreneurial ecosystem, he said.The collaboration ties into Samunnati Foundations goal of creating a tangible difference in the lives of entrepreneurs among un-served and under-served agricultural communities, the release said.

Chennai, Dec 9 (PTI): The IIT Madras Incubation Cell on Thursday announced its collaboration with Samunati Foundation, a non-profit subsidiary of Samunnati Financial Intermediation and Services Pvt Ltd, to encourage innovative technologies in agriculture and allied areas in the country.

The two entitites have signed a memorandum of understanding to promote agriculture technology startups to improve farmer incomes, reduce waste and encourage sustainable agriculture.

''Through this partnership, the organisations will provide incubation support to entrepreneurial ventures, prepare position papers and propose policy recommendations'', a press release said here.

''We, as a country, are witnessing a buoyancy in the entrepreneurial energy especially in agriculture. It is heartening to see several youngsters from IIT/IIMs taking up entrepreneurship in agriculture'', Samunnati Founder and CEO, Anilkumar SG said. ''We also see a lot of private capital flowing into these young start-ups''.

By partnering with the IIT Madras Incubation Cell, Samunnati aims to provide strategic and operational guidance, training, networking and necessary resources to help India's visionary agriculture technology startups.

''With IITMIC focusing on agriculture, we are confident that the eco-system will see a huge fillip to startups in agriculture'', he said.

IIT Madras Incubation Cell President, professor Ashok Jhunjhunwala said, ''this 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. This partnership will offer mentoring support for product development, advisory services, networking for business development, training and will focus on strengthening the agricultural entrepreneurial ecosystem'', he said.

The collaboration ties into Samunnati Foundation's goal of creating a tangible difference in the lives of entrepreneurs among un-served and under-served agricultural communities, the release said.

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