AgriSURE – Agri Fund for Start-Ups & Rural Enterprises

GS III-Agriculture

On its 43rd foundation day, NABARD introduced the AgriSURE fund (Agri Fund for Start-Ups & Rural Enterprises), aimed at fostering innovation in agriculture and rural enterprises.

Key Features of AgriSURE

• Aims to establish a Category-II Alternative Investment Fund (AIF) with a total corpus of ₹750 crore.
• Funding Sources: NABARD and the Ministry of Agriculture & Farmers’ Welfare will contribute ₹250 crore each, with the remaining funds sourced from other institutions.
• Fund Manager: NABVENTURES, a wholly-owned subsidiary of NABARD, will oversee the fund.
• Duration: The fund has a tenure of 10 years, with a provision for extension by two or more years.
• Target Beneficiaries: Plans to support approximately 85 agri-startups, with investment sizes of up to ₹25 crore per startup.
• Funding Structure: Provides both equity and debt support, specifically targeting high-risk, high-impact initiatives in the agriculture value chain.

AgriSURE Greenathon 2024

• A hackathon organized by NABARD to find cost-effective solutions for advanced agricultural technologies under the theme “Smart Agriculture on a Budget.”
• Also focuses on:
  • Converting agricultural waste into profitable ventures.
  • Developing technological solutions to make regenerative agriculture more profitable.

National Bank for Agriculture and Rural Development (NABARD)

• Established in 1982 through an Act of Parliament, following recommendations from the B. Sivaraman Committee.
• Created by transferring RBI’s agricultural credit functions and the refinance activities of the former Agricultural Refinance and Development Corporation (ARDC).
• NABARD’s core mission is to promote sustainable and equitable agricultural and rural development through financial and non-financial support, technological innovation, and institutional development.