800 Startups Funded by the Government Under RKVY

To Fuel innovation and development in the field of Artificial Intelligence (AI), internet of things (IoT), information and communication technology (ICT), and blockchain technology in the agriculture sector, the Central Government under the Innovation and Agri-entrepreneurship Development Programme component of the Rashtriya Krishi Vikas Yojana (RKVY), has funded around 800 Startups. An amount of 111.65 crores is invested in these 800 startups by the government. This will increase the yield, quality, efficiency, and profitability in the agriculture sector. An official, who did not wish to be identified said: "So far, 799 startups have been finally selected between 2019-20 and 2021-22 by different knowledge partners and agribusiness incubators of the Department of Agriculture, Cooperation and Family Welfare, and the first installment of Rs 37.9 crore grants-in-aid has been released.” The official also informed that the second installment of 5.09 crores has been released by the Government for 113 startups.