How to Apply for PRASFUTAN - R-ABI Seed Stage Funding for Agriculture Startups

The selection process begins with an online application via Google Form, which requires a project proposal, business plan, and financial projections. The RKVY-RAFTAAR Incubation Centre (RIC) screens applications for eligibility and assesses the startup’s performance during the residency period. After the mandatory 2-month residency, the RIC evaluates the startup’s business against predefined selection parameters. Startups that meet the criteria are recommended to a Regional Committee (RC), which reviews the application and sends its recommendations to the Nodal Division at the Ministry of Agriculture and Farmers Welfare. The Nodal Division grants final approval. Once approved, a legal agreement is signed, and the first tranche (40%) is released. The remaining tranches are released upon achieving milestones, with a performance review by the RIC and utilization of at least 80% of the previous tranche’s funds. A Demo Day is organized after final selection for further investor exposure.