Jindal Stainless, Japanese firm tie up to incubate agri-tech start-ups

To set up incubation centre with co-working space and international standard laboratory

The country’s largest stainless steel maker Jindal Stainless Ltd will establish an incubation centre for agriculture technology (agri-tech) startups in collaboration with the Japanese company Future Venture Capital Company Ltd.

“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,” said Abhyuday Jindal, vice-chairman of Jindal Stainless Ltd at 'Krisi Unnati' organised by Confederation of Indian Industry (CII) in Bhubaneswar.

Jindal on Thursday signed an agreement with the Future Venture Capital Company Ltd in this regard.

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

“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,” Jindal added.

He stressed on four important stages for the incremental progress of farmer outcomes that includes strengthening existing value change, shifting to higher value crops, diversifying income sources and conserving and managing natural resources.

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

“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.

Speaking on the occasion, Agricultural Production Commissioner Gagan Kumar Dhal said that Odisha is the second state of the country which prepares special agriculture budget. The irrigation budget has increased substantially from Rs 2,000 crore to Rs 7000 crore. Through this, the state wants to provide irrigation facilities to more farmers, he added.