IIT Madras Incubation Cell (IITMIC) has collaborated Samunnati Foundation, a non-profit subsidiary of Samunnati Financial Intermediation and Services Private Ltd, to encourage innovative technologies in agriculture and allied areas in India.
The two organizations have signed a MoU to promote agritech startups to improve farmer incomes, reduce waste and encourage sustainable agriculture. Through this partnership, the organizations will provide incubation support/facilities to entrepreneurial ventures, prepare position papers and propose policy recommendations.
By partnering with IITMIC, Samunnati aims to provide strategic and operational guidance, training, mentoring, networking, and other necessary resources to help India’s visionary agritech startups establish themselves and scale their presence.
“We will work together in developing the ecosystem necessary to support entrepreneurs, and jointly incubate startups in this space. This partnership will offer mentoring support for product development, advisory services, networking for business development, training, funding assistance and technological support and will focus on strengthening the agriculture entrepreneurial ecosystem,” said Prof. Ashok Jhunjhunwala, President, IIT Madras Incubation Cell (IITMIC) and IIT Madras Research Park (IITMRP).
Anilkumar SG, Founder and CEO, Samunnati said, “We as a country are witnessing a buoyancy in the entrepreneurial energy especially in agriculture. It is heartening to see several youngsters from IIT/IIMs taking up entrepreneurship in agriculture. We also see a lot of private capital flowing into these young start-ups.”
