NABARD Launches AgriSURE Fund to Boost Agri-Innovation

The National Bank for Agriculture and Rural Development (NABARD) has launched the AgriSURE Fund, a Category-II Alternative Investment Fund (AIF) with an initial corpus of Rs 750 crore. The fund aims to support agricultural startups and rural enterprises.

Introduction of AgriSURE Fund

National Bank for Agriculture and Rural Development (NABARD) creates "Agri-SURE" fund
Initial corpus of Rs 750 crore
Managed by NABVENTURES, a subsidiary of NABARD
Aims to support agricultural startups and rural enterprises
Focus on technology-driven solutions for agricultural challenges

Financial Structure and Objectives

Rs 750 crore fund breakdown:
a) Rs 250 crore from NABARD
b) Rs 250 crore from Ministry of Agriculture
c) Rs 250 crore from other institutions
Designed as a Category-II Alternative Investment Fund (AIF)
Provides both equity and debt support
Targets high-risk, high-impact activities in agriculture value chain
Aims to support approximately 85 agribusiness startups
Investment cap of up to Rs 25 crore per project
10-year operational period, extendable by two or more years

Focus Areas and Strategic Approach

Enhancing farm produce value chain
Creating rural infrastructure
Generating employment opportunities
Supporting Farmers Producer Organizations (FPOs)
Promoting IT-based solutions and machinery rental services
Encouraging digital and fintech innovations for improved productivity
Focusing on last-mile connectivity
Transforming traditional agriculture into a sustainable and productive sector

AgriSURE Greenathon 2024

AgriSURE Greenathon 2024 launched alongside the AgriSURE fund
Calls for participation from young innovators to contribute to 'Viksit Bharat'
Aims to address three key problem statements:
a) "Smart Agriculture on a Budget" - making advanced technologies accessible to small farmers
b) "Turning Agri-Waste into Profitable Business Opportunities"
c) "Tech Solutions Making Regenerative Agriculture Remunerative"

About NABARD and Its Role

Established in 1982 by an act of Indian Parliament
Apex financing agency for agriculture and rural development
Headquarters in Mumbai, Maharashtra
Subsidiaries include NABVENTURES and NABARD Consultancy Services (NABCONS)
Promotes green initiatives like Watershed Development Program and Climate Change Adaptation Fund

Key functions:

a) Providing and regulating credit for agriculture and rural development

b) Promoting integrated and sustainable rural development

c) Supporting rural infrastructure development

Notable initiatives:

a) SHG Bank Linkage Programme

b) Kisan Credit Card (KCC)

c) Rural Infrastructure Development Fund (RIDF)

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