Guidelines & General Instructions
The main aim of the programme is to help farmers throughout the country.
Appplications are invited from agripreneurs in different stages of the business life cycle (ideation/expansion) and provide them an opportunity to generate innovations in agriculture and allied sector.
These innovations may include, for example, technological solutions/ processes / products/ services/ business platforms etc. that could enhance productivity or increase efficiency in agriculture and allied activities, enhance remuneration/ farmers’ incomes, rural economy and wealth. Aligning farmers to market through value chain approach with a sustainable development agenda will be the other key objective of the incubation/agripreneurship development programme under RKVY-RAFTAAR.
Enrolled incubatees should fulfil the criteria as per the Start up Definition related Notification regarding Startups issued from time to time, by the Department of Industrial Policy and Promotion, Ministry of Commerce, GoI.
The M-ABI will execute an appropriate agreement with the incubatee. The residency period and the exit policy will also be defined clearly in the agreement.
M-ABI will frame its own exit policy. However, general guidelines may be as follows:
a. An incubated company will leave the incubator on completion of the stipulated period of stay, unless extended
b. Underperformance or non-viability of the business proposition as decided by M-ABI on a case to case basis.
c. Irresolvable disputes between promoters/ founders. M-ABI will decide the position or point when disputes are deemed to be irresolvable
d. When the company enters in an acquisition, merger or amalgamation deal or reorganisation deal resulting in a substantial change in the profile of the company, its promoters, directors, shareholders, products or business plans, or when a company plans for a public issue.
e. Change in promoters’/ founders’ team without concurrence of M-ABI
f. Raising substantial investment from angel investor/Venture Capital
Fund/any other investor
g. When the number of employees of the Registered Company exceeds
h. Any other reasons due to which the M-ABI may find it necessary for an incubatee company to exit the M-ABI.
During the selection process, M-ABI will take into consideration any other grant-in-aid funding received by the incubatee for the same activity/product from other GOI ministries. A self-declaration from the incubatee about such funding will be mandatory.
Notwithstanding anything written elsewhere, M-ABI’s decision in connection with the exit of an incubatee company shall be final and shall not be disputed by any incubatee company.