NABARD has launched the Agri-SURE fund through its subsidiary Nabventures, starting with a substantial corpus of ₹750 crore. This initiative, bolstered by ₹250 crore contributions each from NABARD and the Ministry of Agriculture, along with an additional ₹250 crore from other institutions, aims to foster innovation and sustainable growth in the agricultural sector. The fund is set to support up to 85 agricultural start-ups, offering investments of up to ₹25 crore each. Its strategic focus spans various areas including technology-driven solutions in agriculture, enhancement of farm produce value chains, creation of new rural ecosystem linkages and infrastructure, as well as the promotion of employment opportunities and support for Farmers Producer Organisations (FPOs).

A.K. Sahu, Joint Secretary of the Department of Agriculture & Farmers Welfare, stressed the critical role of technology and innovation in addressing challenges faced by the agricultural and rural sectors. He highlighted the necessity of enhancing productivity through systematic mechanization and creating an enabling ecosystem for sustainable growth.

NABARD Chairman Shaji K.V. underscored the significance of digitalization and fintech innovations in revolutionizing the agricultural landscape. He emphasized that the future growth in agriculture will be driven by innovative solutions co-developed by public and private institutions. The Agri-SURE fund aims to support early-stage innovators and provide farmers with viable, sustainable, and durable technological solutions, moving beyond traditional credit-based interventions.

Furthermore, NABARD has launched the AgriSURE Greenathon 2024, a hackathon aimed at addressing pressing challenges through innovation. The hackathon focuses on three key problem statements: “Smart Agriculture on a Budget,” “Turning Agri-Waste into Profitable Business Opportunities,” and “Tech Solutions Making Regenerative Agriculture Remunerative.” This initiative seeks to harness the creativity and expertise of participants to drive meaningful advancements in agricultural practices and sustainability.