IIT Madras Incubation Centre ties up with Samunnati Foundation to nurture agritech start-ups

In a bid to curtail water wastage and help in shift to solar energy in the agriculture sector, the IIT Madras Incubation Cell (IITMIC) along with Samunnati Foundation, a non-profit subsidiary of Samunnati Financial Intermediation and Services Private Ltd, will be nurturing agritech start-ups.

They signed a Memorandum of Understanding (MoU) to encourage innovative technologies in agriculture and allied areas in India and promote agritech start-ups to improve farmer incomes, reduce waste and encourage sustainable agriculture. 

This partnership focuses on encouraging innovative technologies in agriculture and allied areas and to work together in developing the ecosystem necessary to support entrepreneurs, and jointly incubate startups in this space. This partnership will offer mentoring support for product development, advisory services, networking for business development, training, funding assistance and technological support and will focus on strengthening the agriculture entrepreneurial ecosystem, a release stated.