Jindal Stainless Ltd. in collaboration Japanese company Future Venture Capital Company Ltd. (FVCCL) is launching an incubation centre for agritech startups in India.

The announcement was made at the ‘Krisi Unnati’ event organised by the Confederation of Indian Industry (CII) in Bhubaneswar. Around 5-10 startups will be selected for incubation and the selected agritech startups will get an opportunity to network with Japanese companies via an intensive programme led by experienced mentors.

Led by Ratan Jindal, steel manufacturing company Jindal Stainless ranks eighth in the world and has its manufacturing plants in Hisar and Jajpur (Odisha).

The incubation centre will also have a coworking space along with an international standard laboratory. It will be located at Jindal Stainless’ office complex at Gurugram and alongside their office at Bhubaneswar and laboratories across intervention areas.

“We have come up with an initiative to work with the farmers and to see how we can improve the farmers in the next five years”, said Rajiv Williams, Corporate Head (CSR) of Jindal Stainless Corporate Management Service Pvt Ltd.

Agricultural Production Commissioner Gagan Kumar Dhal added that Odisha is the second state of the country which prepares a special agriculture budget. For the current financial year, the state has increased its irrigation budget from $311 Mn (Rs 2,000 Cr) to $1.08 Bn (Rs 7000 Cr).

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