Samunnati Foundation Collaborates with IIT Madras Incubation Cell to Help Agri-Startups

Samunnati Foundation, a non-profit subsidiary of Samunnati Financial Intermediation and Services Pvt Ltd, has partnered with IIT Madras Incubation Cell (IITMIC) to encourage innovative agricultural and allied technologies, as well as to promote agritech startups and sustainable agriculture.

According to a statement from the Samunnati Foundation, the partnership will provide incubation support to entrepreneurial ventures, prepare position papers, and propose policy recommendations.

Major Areas of Partnerships:

The partnership's key areas and technologies to be investigated include the promotion of alternative crops such as millets, the adoption of green agricultural machinery, solar pumps, finance-related technology products, and electric vehicles for agri transport, among others.

Both entities will also focus on the development and promotion of food processing technologies, as well as agricultural community support services such as produce purchase and sale, finance, insurance against price and weather fluctuations, agricultural advisories, transport & agricultural machinery hire, and labor-hire, among other things.

“We are excited about this collaboration with IIT Madras, which as an incubation centre has been the cradle for many successful start-up entities." With the IIT Madras incubation centre focusing on agriculture, we are confident that the eco-system will see a significant boost to agricultural start-ups,” stated Anilkumar SG, Founder, and CEO, Samunnati.

“This partnership focuses on encouraging innovative technologies in agriculture and allied areas and working together in developing the ecosystem necessary to support entrepreneurs and jointly incubate startups in this space,” said Prof Ashok Jhunjhunwala, President, IITMIC and IIT Madras Research Park.

This collaboration will focus on strengthening the agriculture entrepreneurial ecosystem by providing mentoring support for product development, advisory services, networking for business development, training, funding assistance, and technological support.