Introduction

Rashtriya Krishi Vikas Yojna (RKVY) is an important scheme of the Government of India, under the aegis of Department of Agriculture Cooperation & Farmer Welfare (DAC&FW), Ministry of Agriculture and Farmer’s Welfare (MoA&FW), Govt. of India. This scheme aims to promote agripreneurship and agribusiness by providing financial support and nurturing the incubation ecosystem. A new component under the revamped scheme Rashtriya Krishi Vikas Yojana – Remunerative Approaches for Agriculture and Allied Sector Rejuvenation (RKVY- RAFTAAR) has been launched in 2018-19. RKVY- RAFTAAR supports agribusiness incubation by tapping innovations and technologies for venture creation in agriculture. In this process, incubation facilities and expertise already available with participating academic, technical, management and R&D institutions in the country shall be utilized on an individual or collective basic to harness synergies. Punjab Agricultural University, Ludhiana has been bestowed with an incubator namely PABI under this scheme in March, 2019.

Vision

Progress Prosperity through Innovation
Turning Ideas into Reality
Serving Nation through Agripreneurship
Nurturing Ideas and Building Innovations

Objectives

To achieve “Lab to Land” by dissemination of new technology/ varieties to farmers through promoting a culture of Agri Startups
To promote innovation, entrepreneurship and business creation in agriculture and allied sector by skill development, capacity building and technology scale up
To create employment opportunities for youth in agriculture in rural vicinity
To build a vibrant agri-startup ecosystem, by establishing a network between academia, financial institution, industries and other related institutions
To facilitate evolution of an agri-startup ecosystem by support for cost effective and value added services
To promote an integrated approach for technology acquisition, R&D, commercial technology transfer and knowledge dissemination
Capacity Building of existing agri incubators as R-ABI
To generate/ provide innovative solution to meet local and global agriculture and business challenges, and competitiveness