The state government believes there is a huge opportunity for startups in organics and that these startups may eventually get acquired by larger behemoths once they see value.
Startups, take note. The Karnataka government will next week call for a hackathon exclusively for agri-based startups.
In a first, the state’s agriculture department has set aside Rs 10 crore for those with innovative ideas and the fund will be administered by the information technology and biotechnology (ITBT) department.
At a session on startups at the Organics and Millets National Trade Fair, Karnataka’s Agriculture Minister Krishna Byre Gowda and ITBT and Tourism Minister Priyank Kharge spoke passionately about bringing in tech in a big way in agriculture.
Byre Gowda is the first minister to reserve funds for innovative startups in the agriculture sector after Priyank Kharge, who called for a hackathon among tourism startups to promote Karnataka Tourism which comes under his charge. Kharge, who also holds the ITBT portfolio, has called for four grand challenges so far in different areas, including a recent one on nutrition, and distributed a total of Rs 2.70 crore government funds for the tourism hackathon and grand challenge winners.
This is the first time the state’s agriculture department is calling for technology-enabled ideas and innovative ways to address challenges in agriculture. The state is also the first to come out with an organic policy.
According to Byre Gowda, said the idea of holding a startup session in an Organic and Millet conclave came because there are no large players in organics. He said,
“This is a good match for startups. In fact, more than 70 percent of the exhibitors here (at the National Trade Fair) are all startups in one form or the other. They are blending technology with ideas and catering to the value-conscious urban consumer. It’s a great space for young startup entrepreneurs…