IIM Kashipur’s FIED hosted the 7th edition of Uttishtha 2023 – Annual Entrepreneurship Summit supported by Ministry of Agriculture and Farmers Welfare, Government of India. The event aimed to bring socio-economic value to Uttarakhand’s entrepreneur ecosystem by enabling raw entrepreneurs to achieve their big dreams. The initiative successfully clocked 29 LOIs worth Rs 5 Cr funding for 15 national agri-startups. The three-day event included the National Business Plan Pitching Competition, Investors Meet, and Entrepreneur’s Conclave.
In last 6 years of such initiatives, IIM Kashipur FIED has incubated 140+ startups generating over 3.2 billion funding, providing 360* support to create success stories. The AgriMela highlighted innovative businesses ranging from clothing made from bamboo fabric to toys made from wood waste. Investors and industry experts were impressed by the marvelous business pitching sessions presented by agriculture startups from across India.
Prof KulbhushanBalooni, Director, IIM Kashipur said, “IIM Kashipur’s FIED platform has gone to a big level especially the ‘Uttishtha’. We are creating socio-economic impact in the home state by promoting the entrepreneurship with the support of state and central government.”
HimMadhu, AI-MRI, MyPahadiDukan, TheFitBread, FLAAR, Vikalp Herbals, GeeComIndia, PahariHaat, SuperFarmers, and many more presented marvelous business pitching sessions that impressed the investors and other jury members. Investors such as PinCap, FitSol Supply Chain Solutions, HBF Limited, GSF Accelerators, Omnivore and Venture Capitalists were surprised looking the startup ideas and efforts made by the founders to scale up.
Prof.SafalBatra, Director of FIED (Foundation for Innovation and Entrepreneurship Development) said, “The 3rd generation of farmers are not limited to crop cultivation but expanding into food processing and setting startups. By facilitating the right platform for bringing the right human resources, branding, investors, larger market place, price & packaging, we put them into the main stream business.”
Some of the IIM Kashipur FIED incubated startups are making success stories in the country. Bijak raised $ 34.1 million, LoopWorm raised $ 3.4 million and Greenpod Labs raised $0.54 million from external investors. PoultryMon, NKosh, InfiU Labs and many more have also generated funds on merit and showing ways to other registered startups.
Inaugurating the AgriMela (Startup Expo), Sunil Kaushik, General Manager of NABARD said, “I congratulate to the IIM Kashipur FIED for making difference in the entrepreneurship journey. Entrepreneurship in Agriculture can surely bring the paradigm shift for the country’s economic growth. NABARD is committed to support for marketing and branding of startups and motivate them to grow.” Also, Prabhat Kumar, Ministry of Agriculture and Farmers Welfare; and Devendra Agarwal, MD of KVS Companies expressed their gratitude towards the enthusiasm whown by the startups during the expo – AgriMela.
