June 24, 2024: Madurai Agribusiness Incubation Forum (MABIF) has emerged as a key player in fostering agricultural innovation and sustainable business models in India. The incubator has emerged as a strong center for catalysing agri entrepreneurship.
The impact of the incubation center is undeniable. They’ve played a pivotal role in supporting over 354 startups across various agricultural domains. Success stories like B and B Organics and Millet Bank serve as powerful testaments to the effectiveness of MABIF’s approach.
MABIF provides a comprehensive range of incubation services to startups in the agricultural sector. Their services include infrastructure support, business development assistance, legal licensing facilitation, networking opportunities, and financial aid.
This one-acre facility provided by TNAU in Madurai, Tamil Nadu offers startups the essential tools and resources needed to compete in today’s market. Since its inception, the incubation forum has supported over 354 startups across various agricultural domains.
“MABIF aims to foster unicorns in the agricultural technology sector,” said K. Ganesh Moorthy, CEO of MABIF. “We envision our startups achieving a valuation of over ₹10 crore.” The incubator is actively seeking increased funding to propel these companies onto the global stage.
MABIF Big Thrust on Agri-Innovation
Financially, MABIF offers grants and loans at competitive interest rates. They also assist startups in obtaining FSSAI certification, export codes, and product barcodes, ensuring compliance with regulations.
The incubation forum prioritizes intellectual property protection and has facilitated numerous trademarks, patents, and geographical indications for its startups. Startups also benefit from access to university faculty, industry experts, and collaboration opportunities to translate research into commercial products.
With affordable office space and extensive food processing capabilities, the incubation forum significantly reduces the barriers to entry for startups in the agricultural sector.
“MABIF plays a pivotal role in shaping the future of agriculture in India by bridging the gap between innovation and implementation,” said Mr. Moorthy. “We have the potential to transform farmers into businessmen.”
Madurai Agribusiness Incubation Forum is a collaborative initiative of NABARD & TNAU aimed at promoting Agribusiness in Southern Tamil Nadu. The incubation forum seeks to transform rural areas by creating administrative units with a 75 km radius, focused on agribusiness development.
