SBI Foundation and Villgro launches ‘Innovators for Bharat’ to support 14 agritech startups

SBI Foundation and Villgro have introduced a new initiative called ‘Innovators for Bharat’ to support 14 promising agritech startups.

The program was officially launched at an event held at the Bangalore International Centre, attended by representatives from SBI Foundation, Villgro, NABKISAN, and various industry stakeholders.

The initiative aims to drive innovation in the agricultural sector by addressing critical challenges such as climate change, sustainability, and farmer profitability.

Purpose and vision of the program

The key objective of the ‘Innovators for Bharat’ initiative is to support early and growth-stage agritech startups in solving pressing agricultural issues.

Sanjay Prakash, Managing Director and CEO of SBI Foundation, said, "SBI foundation’s vision is to support early and growth-stage start-ups that tackle the challenges associated with agriculture and the impacts of climate change. We aim to foster the development of tech solutions from these start-ups, ultimately improving the income of smallholder farmers and making their businesses more profitable and sustainable. Together, we can drive meaningful change in the agricultural sector and contribute to a more resilient future".

These tech solutions are expected to help farmers increase profitability, reduce post-harvest losses, and minimize the environmental impacts of agricultural practices, particularly by addressing the issue of CO2 emissions.

Funding and Catalytic Capital for startups

The program is backed by an initial funding of Rs 3.25 crore from SBI Foundation, with additional capital provided by NABKISAN, bringing the total funding to Rs 6 crore.

This "catalytic capital" is intended to support the 14 selected startups, allowing them to scale their operations and bring their innovative technologies to market.

These startups include Bharat Rohan, RAAV Techlabs, Navork Innovations, Marut Drones, GreyMatter (Upaz), Carbon Masters, Raheja Solar, Ekosight, Pasidi Panta, Agrosperity (Kivi), Krimanshi, RuKart, GreenSupply, and E-Feed.

The startups focused on various aspects of agricultural innovation, from creating value from agricultural waste to reducing post-harvest losses.

Over the next two years, the program aims to impact the lives of 10,000 individuals, promote sustainable agricultural practices on 60,000 acres of land, and prevent 15,000 tonnes of CO2 emissions.

Collaboration and support structure

The ‘Innovators for Bharat’ initiative is a collaborative effort that brings together the expertise and resources of SBI Foundation and Villgro. SBI Foundation provides not only financial support but also access to a network of banking and financial institutions for mentorship.

Villgro contributes through mentorship, technical assistance, and market linkages, ensuring that startups can scale their solutions.

Villgro’s Associate Lead for Agriculture and Climate Action, Maithili Rege, highlighted the importance of this collaboration in supporting agritech startups and helping them access innovative financing that may not be readily available through traditional venture capital routes.

This partnership also facilitates field trials and pilots in collaboration with civil service organizations, ensuring that the technologies are effectively tested and implemented in real-world farming environments.

Long-term impact and program goals

The broader goal of the ‘Innovators for Bharat’ initiative is to foster sustainable agriculture in India. Through a combination of financial and technical support, the program aims to drive meaningful change in the agricultural sector by empowering startups to develop climate-resilient, sustainable, and profitable farming solutions.

The focus on reducing carbon emissions and promoting sustainable practices aligns with global efforts to mitigate the impacts of climate change while enhancing farmer livelihoods.

This initiative is part of SBI Foundation’s broader efforts to accelerate social innovation in key sectors like agriculture, climate change, and financial inclusion.