ABIF at IIT Kharagpur incubates 115 startups; 37 participate in Startup Expo 2024

NEW DELHI: The Agri Business Incubation Foundation (ABIF) at the Indian Institute of Technology (IIT) Kharagpur is currently supporting a total of 115 startups through incubation, acceleration, and graduation programs. This initiative aims to foster innovation and entrepreneurship in the agriculture sector.

Recently, 37 of these startups showcased their products and services at the ABIF Startup Expo 2024, held from October 24 to 25, 2024. This expo provided a platform for these startups to connect with potential investors, industry experts, and other stakeholders.

Participating in such events helps startups gain visibility, receive feedback, and explore collaboration opportunities, which are crucial for their growth and success in the competitive agri-tech landscape.

Partho Saha, CGM OFDD, NABARD, Mumbai attended the EXPO as the Chief Guest in the presence of Rintu Banerjee, Deputy Director, IIT Kharagpur; PK Bhardwaj CGM NABARD WBRO; Madan Kumar Jha, HOD, Agriculture and Food Engineering Department and KV Iyer, Director ABIF along with other senior professors.

Contribution of startups in generating job opportunities

Partho Saha, CGM OFDD, NABARD highlighted the contribution of startups and entrepreneurs in generating job opportunities and advancing the economy. He underlined the importance of enhancing the rural SME sector and improving the efficiency of rural value chains, noting that agri-tech startups are crucial in achieving these goals.

Over the course of two days, ABIF startups showcased their products and services to a diverse audience that included investors, fund managers, professors, farmers, and students. Product-based startups presented their offerings directly, while those focused on machinery and services utilized audiovisual displays.

Rintu Banerjee, Acting Director of IIT Kharagpur and Chief Convener of the EXPO, emphasized the institute's efforts to promote entrepreneurship and enhance the startup ecosystem through collaboration among its various incubators, including ABIF, AI4ICPS, SATHI, STEP, and the Research Park.

Winners and awards at ABIF startup expo 2024

In terms of achievements, notable winners at the graduation stage included Syangbos Living Food and Beverages Pvt Ltd, Rural Rise Agrinery LLP, and Tender Buds Tea & Crafts Pvt Ltd, each receiving a seed grant of Rs 5 lakhs. Rudranjali Innovative Agritech Pvt Ltd, Aati Pual Mushroom Pvt Ltd, and Rhodotion International Pvt Ltd were awarded Rs 1 lakh each.

For the acceleration stage, Bisuddha Enterprises, Savrog Udyog Pvt Ltd, Farm Genesis Technology Pvt Ltd, Shri Charbhuja Jaivik Farm, Aqua Doctor Solutions, and PR Linseed Based Products each received Rs 2 lakhs as seed funding.

Additionally, Kaffa Kuwwa Innovations Pvt Ltd won the first prize of Rs 2 lakhs for the best stall, while Ramanjali Organics and Anwesha Jena from Makkai received the second and third runner-up prizes of Rs 1 lakh and Rs 50,000, respectively.