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To Incubate Agri-Tech Start-Ups, Jindal Stainless Tie up With Japanese Firm

In collaboration with the Japanese company Future Venture Capital Company Ltd, The country’s largest stainless steel maker Jindal Stainless Ltd will establish an incubation centre for agriculture technology (agri-tech) start-ups. Jindal signed an agreement with the Future Venture Capital Company Ltd in this regard.

Vice-chairman of Jindal Stainless Ltd at 'Krisi Unnati' organised by Confederation of Indian Industry (CII) in Bhubaneswar, Abhyuday Jindal said, “The co-working space for the incubation centre will be located at our office complex at Gurgaon and alongside our office at Bhubaneswar and laboratories across intervention areas.”

To start-ups for networks and collaboration with the Japanese companies through an intensive programme led by experienced mentors, the incubation centre with the co-working space and international standard laboratory will be a platform.

Abhyuday Jindal said “With their (Future Venture Capital Company Ltd) experience in the area of supporting agri-start-ups, I am confident that farmers will increase their incomes through a concerted effort of market-led production and resilience enhancement. Such collaboration will lead to a positive social impact on communities and contribute towards inclusive growth and development.”

He stressed on four important stages for the incremental progress of farmer outcomes that includes,
i. Strengthening existing value change,
ii. Shifting to higher value crops,
iii. Diversifying income sources and
iv. Conserving and managing natural resources.

A researcher at Future Venture Capital Company Ltd, Shiho Sakaguchi said, “There will be five to 10 start-ups to be incubated at the incubation centre.”

Rajiv Williams, corporate head (CSR) of Jindal Stainless Corporate Management Service Pvt Ltd said, “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.”

Source:http://www.business-standard.com
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