The Centre for Innovation Incubation and Entrepreneurship (CIIE) has opened its food and agribusiness accelerator to applications.
As previously reported, CIIE’s accelerator, which is being launched in partnership with a-IDEA, the business incubator at Indian Council of Agricultural Research’s National Academy of Agricultural Research Management (NAARM), will be the first Indian accelerator for the sector.
The three-month programme aims to “accelerate, nurture and invest in innovative early stage startups that have the potential to become scalable and competitive food and agri ventures”, reads a press release. “Selected start-ups will be provided with intensive capacity building, mentoring and advisory support.”
CIIE, NAARM and Goa-based agri-focused incubator Center for Innovation and Business Acceleration (CIBA), will invest up to Rs3 million ($47,000; €42,000) each into the top two start-ups from the programme. And CIIE’s sustainability focused fund Infuse Ventures may invest up to Rs10 million per venture too.
CIIE has also partnered with agri-focused investment funds such as Omnivore Partners, Aspada Investments and Rural Agri Ventures, which will consider investing in the start-ups.
The accelerator is targeting in startups in sustainable agriculture areas like precision farming, supply chain tech, soil, weather & water tech, and internet-based products for agriculture.
To apply click here.