‘Fisheries Startup Grand Challenge 2.0’ to support 10 startups with Rs 1 crore funding

Hyderabad  (The Uttam Hindu) :The ‘Fisheries Startup Grand Challenge 2.0’ will support 10 winning startups in manufacturing and related areas with Rs 1 crore in funding, it was announced here on Saturday. The Department of Fisheries organised the ‘Startup Conclave 2.0’ here to promote innovation in the fisheries sector. As part of this initiative, the Fisheries Startup Grand Challenge 2.0 was launched by Union Minister Rajiv Ranjan Singh to support startups in manufacturing and related areas. The programme aims to foster entrepreneurship, technological advancements, and sustainability in fisheries and aquaculture, enhancing production and efficiency. According to the Ministry of Fisheries, Animal Husbandry and Dairying, each winning proposal will receive structured incubation support from ICAR (ICAR-Central Institute of Fisheries Technology), National Fisheries Development Board (NFDB) or other affiliated institutions under the Department of Fisheries.

These incubators will play a crucial role in mentoring startups, offering capacity-building programs, and providing access to manufacturing infrastructure to help them scale their solutions effectively. The NFDP mobile application was also launched during the Fisheries Startup Conclave 2.0 to expand access to Pradhan Mantri Matsya Sampada Yojana (PM-MKSSY) benefits. The mobile app has been developed and is now available on the Google Play Store. The app offers a seamless interface for users particularly startups to navigate various modules and avail scheme benefits. The NFDP serves as a platform for creating digital work-identities for fishers, fish farmers, vendors, and processors, enabling their seamless integration into formal financial and welfare systems. India’s fisheries and aquaculture sector sustains 3 crore livelihoods, driving employment across the value chain. Since 2015, the government has invested Rs 38,572 crore through various initiatives and schemes to promote sustainable growth. This rapid expansion has spurred the rise of over 300 fisheries start-ups, which are leveraging blockchain, IoT, and AI to develop innovative, commercially viable solutions that enhance productivity, ensure traceability, and improve value chain efficiencies.