CURRENT AFFAIRS

Detailed explanation-1: -Agribusiness Incubation is in its early stages in the Indian agricultural landscape. Though a good number of agribusiness incubators have been started since the first agribusiness incubator by ICRISAT was set up around 2003 in India, yet the success rate of such incubators has not been high.

Detailed explanation-2: -ICAR-CISH, Lucknow envisages facilitating incubation of new startups /entrepreneurs & enterprises for innovative technologies by providing need based physical, technical, business and networking support, facilities and services to test and validate their venture before successful establishment of enterprises.

Detailed explanation-3: -UPSC Mains. Q. India’s first fisheries business incubator- ‘LINAC- NCDC Fisheries Business Incubation Centre (LlFlC)’ was inaugurated in which city?

Detailed explanation-4: -Incubation stage will be 6-12 months where startup companies graft product development and prepare themselves for marketing. During this stage, the entrepreneur takes up the role of a ‘Technopreneur’, who brings all his efforts (such as technology, team, seed money) to build a market viable prototype (MVP’s).

Detailed explanation-5: -Agribusiness incubation is defined as a process that focuses on nurturing innovative, early- stage enterprises that have high potential for growth and to become competitive agribusinesses by serving, adding value to or linking to farm producers.