Dealflow | May 5, 2017

Karnataka fund to boost organic agtech innovation in India

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The Indian state of Karnataka, home to India’s startup and tech capital Bangalore, is launching a 10 crore rupees ($1.6 million) fund for agriculture tech startups, particularly those focused on organic agriculture.

Karnataka’s agriculture department is providing the capital. The move is the latest by the state to boost innovation and entrepreneurship.

Karnataka has earmarked $333 million to nurture 20,000 early-stage enterprises by 2020.

In March, the state government launched a similarly sized fund for women entrepreneurs (see, “Karnataka launches “proof of concept” fund for women entrepreneurs”).