Rs 8-cr grants given to entrepreneurs by business incubation centre in Hisar

The Agri Business Incubation Centre (ABIC) at Chaudhary Charan Singh Haryana Agricultural University (HAU) has till now released grants worth Rs 8 crore to young entrepreneurs who started their ventures as startup for fostering youth entrepreneurship and self-reliance.

Prime Minister Narendra Modi highlighted startups from cities like Hisar and Ambala in his popular 'Mann Ki Baat' programme on Sunday. The recognition by the PM reflects the growing startup culture in smaller cities beyond the usual metropolitan hubs, said Prof BR Kamboj, Vice-Chancellor of the HAU. The PM said startups were gaining momentum in these regions, with women also taking a leading role, as more than half of the startups in smaller cities were being led by women entrepreneurs.

Prof Kamboj, while elaborating on the contribution of ABIC in promoting entrepreneurship, said that since its inception in 2019, the centre had provided financial assistance ranging from Rs 4 lakh to Rs 25 lakh to aspiring entrepreneurs, farmers and women aiming to start businesses based on innovative ideas. The centre has so far supported over 250 incubates and helped them access grants from the Centre, totaling over Rs 8 crore. These startups, which focus on agricultural innovations, are now generating a turnover of approximately Rs 20 crore and providing employment to around 1,600 people, the VC said.

He said that the ABIC played a pivotal role in guiding young people towards self-employment. “By providing training, funding and mentorship, the ABIC helped youth launch their own businesses, thus not only creating jobs for themselves but also contributing to the broader economy by offering employment to others. This initiative is especially significant in rural and semi-urban areas, where traditional employment opportunities may be limited,” he said.

Citing an example, the VC said that Rajendra Kumar from Satrod village had developed a winnowing machine with the help of a Rs 25 lakh grant, which had revolutionised cleaning of grains for farmers. “His company has sold 200 machines, while employing 15 persons and generating a turnover exceeding Rs 2 crore,” the VC said. He said another success story was that of Praveen, who, after receiving Rs 5 lakh in support, was cultivating saffron using aerophonic technology. “This unique method has not only allowed him to achieve a turnover of Rs 50 lakh but also enabled him to train hundreds of farmers in this innovative technique. His company now employs 10 persons,” he said.

The VC said that ABIC not only provided financial assistance but also supported startups in obtaining patents, certifications and licences, ensuring that their products met industry standards. Through ABIC, the government had made provisions to encourage women entrepreneurs by offering an additional 10 per cent grant amount, further strengthening the drive for self-reliance, he said.