SELECTION PROCESS

Agripreneurship Orientation

Objectives

Who can Apply ? 

For the people who are at the idea stage or proof of concept stage. This includes:

  • Entrepreneurs who are just starting up or

  • Startups who have a prototype to work on

  • Students who are working on any innovations already

 

Only having an idea is not sufficient for this stage. You should be beyond the ideation stage and should have at least a prototype to show.

Eligibility Criteria

Broad Activities

  • Expenses for the following broad activities would be supported under Pre-Stage Funding:

  •  Development of prototype/ product

  • Expenses on data generation/ Data acquisition for ideas working on IT side/AI side

  •  Fees for technology commercialization and IP issues

  •  Manpower for day to day operations

  •  Day to day operational expenses like electricity bill, incubation charges, etc.

  •  Any other area/activity as deemed necessary and recommended by the RIC of R-ABIs.

Selection Process of Startups for Pre-Seed Stage Funding

After successful completion of the initial two months of this programme, the interested participants will have to make a presentation before RIC of their respective R-ABI. The RIC will evaluate participants on the basis of progress made on their innovative idea in the two months of Sahas (agripreneurship orientation programme) and recommend the participants to RC for their final evaluation. The RC will evaluate and recommend the participants for Idea Stage Funding. On the recommendation of RC, the first instalment of the grant-in-aid will be released by the Nodal Division to incubatees through the respective R-ABI.

The R-ABI would execute a legal agreement with the incubatee who is selected for the seed support and this agreement should be signed before the release of the first instalment of seed fund to the Incubatees. The terms of agreement with the incubate startup should be framed by the R-ABI linking the progress milestones, monitoring norms etc.

Subsequent disbursement schedules should be linked to the achievement of milestones by the incubatees.

Pattern of Funding Support and Release of Funds

A maximum of 20 Sahas startups (out of the 30 selected) will be supported under this scheme. Each selected startup will be provided a maximum limit of Rs 5 lakh as grant in aid under the scheme for working on their idea to convert it into a marketable product. The amount of Rs. 5 lakh is the upper limit of the seed fund assistance. The applicant incubatees would be provided funds as per their genuine requirements and as per appraisal/evaluation of their business plans by the RC and the decision of the RC in this regard will be final. The RC will not be bound to give any reason in case an application for seed loan is rejected. In case, the incubatee is already receiving grant/financial support from any other source, he should disclose the same and the issue of grant under RKVY-RAFTAAR will be decided on a case to case basis by RC based on the recommendation of the RIC.

 

For ensuring the incubatee / private participation in the programme and to bring in accountability, a minimum of 10 percent of the project cost on a proportionate basis will be borne by the incubatee. The remaining 90 percent of the project cost on a proportionate basis up to a maximum of Rs. 5 lakhs will be borne under the RKVY-RAFTAAR scheme which will be released in two instalments as mentioned below:

  • The first instalment of 60 % of the amount of the sanctioned project for support under Idea Stage Funding will be released after signing of the agreement between the incubator/ R-ABI and the incubatee.

  • The final instalment of 40% will be released to the Incubatees by the Nodal Division through R-ABIs after recommendation of RIC and RC based on their performance and milestone achieved as well as after utilization of 80% of previously released amount and receipt of provisional UC of 80% of already released funds.

This programme is aimed at providing an opportunity to students/ youth to work on their innovative ideas by imparting two months training cum hands on participantship with other startups. (We will find relevant startups for them to get participantship). Guided by experienced mentors and innovative startups, they will be able to understand business concepts/nuances, strategy and practical insights of specific industries or markets, challenges and strategies to resolve them.

 

After successful completion of the two months orientation programme, the R-ABI will facilitate incorporation of entities for all viable business ideas. After that, these startups will be eligible for Idea/Pre-Seed Stage Funding.

To nurture potential agripreneurs by providing training cum participant-ship with other startups to provide them practical, technical and business insights

To make pursuing entrepreneurship related to innovative ideas an attractive career option among other available career choices.

To nurture potential agripreneurs by providing training cum participant-ship with other startups to provide them practical, technical and business insights

To make pursuing entrepreneurship related to innovative ideas an attractive career option among other available career choices.

Pre-Seed Stage Funding

Under this, subsistence grant of a maximum of Rs. 5 lakhs will be provided to participants who have successfully completed the initial two months of Sahas (Agripreneurship orientation programme) and are aspiring to convert their innovative idea based on technology, service, business platforms etc. into a prototype/ product. Startups supported for idea/pre-seed stage funding will be eligible for obtaining next stage of Seed Stage Funding after evaluation.

The recipient should be registered for the incubation programme at the R-ABI for the entire duration of Idea/ Pre-Seed Stage Funding.

The recipient will register his/her company before the release of the grant or he/she has to be an Indian start-up as per DIPP notification.

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+91-8285085557
+91-9456040786
+91-7668784314


Email: fied@iimkashipur.ac.in

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Indian Institute of Management 
Kundeshwari, Kashipur
Dist. Udham Singh Nagar, Uttarakhand 244713