Tirupati: RARS provides Rs 64.4Lakh help to entrepreneurs

Tirupati: Financial assistance to the tune of Rs 64.40 lakh was provided to 16 out of trained 54 by the Agri Business Incubator of Regional Agriculture Research Station (RARS) of Aacharya NG Ranga Agriculture University (ANGRAU) to set up their own start-ups in Tirupati on Monday.

T V Murali Nath Reddy, board member, ANGRAU, attended as chief guest and distributed cheques to the selected members for their start-ups. The Agri Start-Up was launched in 2019-20 at Regional Agriculture Research Station of ANGRAU under the auspices of Union Ministry of Agriculture under their Rashtriya Krishi Vikas Yojana-Raptaru scheme to encourage entrepreneurs with the idea of setting up start-ups in the field of agriculture.

A total grant of Rs 133 lakh has been released by the Union Ministry of which Rs 64.40 lakh has been disbursed on Monday.

Out of total Rs 56 lakh released for 12 people in the pre-seed stage, only Rs 33.6 lakhs were distributed in the first installment. Murali Nath Reddy said that setting up of a agriculture affiliates could not only solve the problems of farmers and Indian economy should be strengthened by providing employment to the unemployed youth. B Ravindranath Reddy, Associate Dean, SV Agriculture College, said those who set up start-ups should keep an eye on the market developments and consumer preferences on regular basis so that they can survive in the market.

Associate Director of Research L Prasanthi, Incubator Principal Investigator Dr B Balahussain Reddy, Co-principal Investigator Viswanath, scientists and non-teaching staff were present.