FASAL CoE OCP - 2.0
Creation of a holistic eco-system for encouraging R&D, innovation, Entrepreneurship in the AgriTech domain by providing physical infrastructure and support services for prototyping, developing, testing & marketing; to incubate start-up units to create innovative solutions to address the problems of farmers in the region; to provide business and technological mentorship & guidance in the domain; to provide networking services linking up with funding sources and other stakeholders (alumni, academic institutions,other incubators etc.); to enable creation of IPs domestically;
WHO CAN APPLYThe start-up should be incorporated as a Private Limited Company (as defined in the Companies Act, 2013) or Registered Partnership Firm (Regd. under section 59 of the Partnership Act, 1932) or Limited Liability Partnership (under the Liability Partnership Act 2008). The date of registration/incorporation should not be beyond 10 years. If a company is not registered, an application may be made in the names of the promoters/founders. However, the promoters/founders must ensure that the company is registered within a period of 3 months from the date of selection for CoE.
• Start-up should have an annual turnover not exceeding Rs. 100 crore for any of the financial years since its incorporation.
• Entity should not have been formed by splitting up or reconstructing an already existing business.
• Entity should be working towards innovation, development or improvement of products, services or processes and should have the potential to generate employment/create wealth.
IncentivesFASAL CoE shall support through initial seed support up to Rs. 10 Lakh and guide start-ups for raising funds towards PoC, MVP and Marketing as well as scaling up through grants, equity and debt by leveraging connections with potential customers and CSR/ Corporate sources as well as angels, High Net worth Individuals (HNIs) and VCs as per appropriate size of start-ups.
FACILITIES & SERVICES• Facilities & Services: The services available for the beneficiaries of FASAL shall include
• Physical infrastructure including state-of-the-art Ready-to-Work Plug & Play space
• Physical laboratories viz. Digital Farming Lab, Agri IoT Lab, Predictive Analytics Lab and Hydroponic Structure
• Direct mentoring from stalwarts of business/tech domain
• Financial Support through seed funding
• High Speed Internet Access
• Access to VC funding
• Technical Support
• Marketing Support
• IPR Related Support Services
• Access to STPI CoELabs PAN India
• Facilitate collaboration with Government agencies and Agriculture domain industry
• On-field demonstration of the solutions/products developed by startups with the help of farmers
• End-to-end marketing plan to place your start-up on the global map
• Legal, Accounting, IPR/Patenting Facilitation & other support Service
• Cross border collaboration via international promotional agency partners
• Sponsorship to National/International level events to showcase your products for global exposure.
TARGET BENEFCIARIES• Target Beneficiaries:25 start-ups are expected to be benefitted over a period of 3 Years.
Application submission start date
Application submission end date
Announcement of Result
Note: Dates are subject to change. Kindly check the portal regularly for latest information.