IIT Madras Incubation Cell To Collaborate With Samunnati Foundation To Support Agritech Startups

The two organizations will jointly incubate and support Indian agritech startups scale up their businesses and encourage sustainable agriculture

Prof. Ashok Jhunjhunwala (R), President, IITMIC & IITMRP, exchanging the MoU with Mr. Anilkumar SG, Founder and CEO, Samunnati

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 an 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. 

This collaboration ties into the Samunnati Foundation’s goal of creating a tangible difference in the lives of entrepreneurs among unserved/ underserved agricultural communities. 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.

Key areas and Technologies which will also be jointly explored, specifically under Sustainable Agriculture are:

  1. Promotion of Alternative crops – Research on the types of Millets and promotion of millet-based menus through commercialization of millet food items. 
  2. Adopting a green agricultural ecosystem- green agricultural machinery, solar pumps, finance-related technology products, electric vehicles for Agri transport
  3. Food processing technologies- To look at indigenously developed medium-scale technology to pre-process packaged food locally while retaining nutritional quality. 
  4. Support services for agricultural community- To look at supporting farmers through enabling purchase and sale of produce, finance, insurance against price & weather fluctuations, agricultural advisories, transport & agricultural machinery hire and labour hire.

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