Bihar Agricultural University to create a startup ecosystem to boost the state's economy


Bihar Agricultural University to create a startup ecosystem to boost the state's economy
The Bihar Agricultural University and Sabour are promoting agro-based start-ups in an effort to move agriculture towards a market-driven model to uplift the socio-economic status of more than 10 crore farmers of Bihar and neighbouring states. The collaboration is the blend to give a high trajectory to farmer’s income, employment generation, and economic growth of Bihar and neighbouring states. Two programmes are now being run by SABAGRIs. Pre-seed stage and seed stage incubation help shape the unique company idea in any area of agriculture, from conception and validation through to the commercialization stage of business. 
SABAGRIs is working to establish a start-up with a unique business concept in the agricultural sector. 37 of the 77 agri-startups that SABAGRIs have incubated so far have received funding through the R-ABI programme from the Ministry of Agriculture and Farmers of India (MoA&FW), New Delhi, in order to assist and establish their various business ideas.  A total of 4.25 crores of rupees have been accepted for funding, which will be distributed to 37 start-ups in installments in accordance with each one's approved milestones following the execution of a legal agreement between the start-ups and SABAGRIs, BAU, and Sabour. 
The Department of Industries, Bihar's government, has authorized E-Cell to expand the startup ecosystem in the district of Bhagalpur in order to further this programme.  A formal MOU was signed on October, 2023 between Bihar Startup Fund Trust (BSFT), Department of Industries, Govt of Bihar and Bihar Agricultural University, Sabour in the event “Bihar Innovation Challenge and Expo-2023” organized by DoI, GoB. 
Anil Kumar Singh, Director Research, BAU, Sabour, and Shri Pankaj Dixit, Director, Department of Industries, GoB, graciously sign the MOU in the presence of Additional Chief Secretary Shri Sandeep Poundrik, IAS, Development Commissioner Shri Vivek Kumar Singh, and Secretary, DPIIT, Shri Rajesh Kumar Singh, IAS. This MOU is significant because it will raise per income levels, create jobs, and aid farmers in the state of Bihar.