Bihar Agricultural University and Bihar Startup Fund Trust to Develop Startup Ecosystem for Economic Growth

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Bihar Agricultural University, Sabour and Bihar Startup Fund Trust (BSFT), Department of Industries, Govt of Bihar has signed an MoU to improve the farmer’s income, employment generation, and economic growth of Bihar and neighbouring states.

Bihar Agricultural University and Bihar Startup Fund Trust to Develop Startup Ecosystem for Economic Growth

New Delhi: Bihar Agricultural University, Sabour has joined hands with Bihar Startup Fund Trust (BSFT), Department of Industries, Govt of Bihar, and Bihar Agricultural University on October 4, 2023, in the event “Bihar Innovation Challenge and Expo-2023” organized by DoI, GoB.

As per Bihar Agricultural University, this collaboration aims to improve the farmer’s income, employment generation, and economic growth of Bihar and neighbouring states with the help of Bihar Startup Fund Trust.

Check: Bihar Agriculture University Courses and Fees

The MoU was signed in the presence of Anil Kumar Singh, Director of Research of BAU Sabour, and Shri Pankaj Dixit, Director of the Department of Industries, GoB. Secretary, DPIIT, Shri Rajesh Kumar Singh, IAS, Development Commissioner Shri Vivek Kumar Singh, IAS, and Additional Chief Secretary Shri Sandeep Poundrik, IAS were also present at the event.

Bihar Agricultural University, Sabour is taking the initiative to transform agriculture into a market-driven industry by supporting agro-based start-ups. It further aims to improve the socioeconomic standing of the more than 10 crore farmers in Bihar and its adjacent states.

As of now, SABAGRIs is working to establish a start-up with a unique business concept in the agricultural sector. It has launched two programs which cover pre-seed stage and seed stage incubation aid in shaping the original company idea in any area of agriculture.

Check: Bihar Agricultural University Admission Process

The Ministry of Agriculture and Farmers of India (MoA&FW), New Delhi, has funded money to 37 of the 77 agri-startups that were incubated by SABAGRIs through the R-ABI program. This was done with the aim to help and build their diverse business ideas.

A total of INR 4.25 crores has been approved for funding, following the completion of a legal agreement between the start-ups and SABAGRIs, BAU, and Sabour. The funds will be given to the 37 start-ups in installments in accordance with each one's approved milestones.

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