Under the ATMAN (Agri sTartup deMo And fuNding) 2023 programme, 24 startups have been recommended by experts for receiving technical and financial support from a total fund of Rs. 20 Crores. These were selected from among 55 startups who presented their technologies at the event held in New Delhi.
The objective of the programme is to facilitate the success of the technology startups in the AgriTech marketplace.
As per the programme, financial assistance of up to Rs.50 Lakhs would be provided as seed support in the form of equity or convertible instruments (CCPS or OCPS) to the selected startups. Such startups would also be receiving business and technical support from experts along with recognition under NM-ICPS from the Department of Science & Technology, Government of India, and IITs and exposure to the Technology Innovation Hub (TIH) network.
It is specified that the support received under ATMAN 2023 should be used only towards business needs stated in the application for financial support and the business plan.
Dr. Akhilesh Gupta, Senior Adviser at the Department of Science & Technology and Secretary of the Science and Engineering Research Board (SERB) highlighted that there were approximately 1 Lakh startups in the country, including the 15,000 startups working on tech, and out of this, 3000 were in deep tech and only 142 startups worked in the agriculture domain. He further stated that 60 more would be added through the ATMAN programme.