The “Millet Challenge” for startups was announced by Union Finance Minister Nirmala Sitharaman on Saturday. Three winners will receive seed grants of Rs 1 crore each to create and develop cutting-edge solutions for the millets value chain.
Additionally, she disclosed that NABARD would provide Rs 25 crore through the Rural Infrastructure Development Fund (RIDF) to the University of Agricultural Sciences in Raichur for the creation of the Millet Value Chain Park, an incubator for processing, value addition, and capacity building for millets’ promotion.
Speaking at the Millet Conclave 2022 in Raichur, Sitharaman was representing the Atal Innovation Mission (AIM), University of Agricultural Sciences, and NABARD.
The challenge will be open to anyone who wants to participate, including young minds who want to be associated with startups, to take up the challenge and provide solutions through innovative ways, she said. “Soon within a week or 10 days, I will have the NITI Aayog announce a challenge for startups, all focusing on millet, millet-related matters,” she said.
She stated that the Millet Challenge will provide seed funds of Rs 1 crore each to three winners, Rs 20 lakh each to 15 selected applicants, and Rs 10 lakh each to 15 additional selected candidates after announcing the winner in December.
In addition, Sitharaman raised alarm over a claim that there has been a decline of nearly 60% in the amount of land planted with millets, and that too in a state that offers Rs 10,000 per acre as a financial incentive to do so.
“Seriously, someone needs to offer a theory as to why this is happening. We need to know if it’s just the market or if there’s something else “ She spoke
Featured Image: Wikimedia Commons
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