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Published – June 23, 2024 06:35 pm IST – MADURAI
Food processing unit at MABIF centre located on Agriculture College and Research Institute premises in Madurai. | Photo Credit: MOORTHY G
In 2012, overcoming the initial business hurdles and concerns from their family, two horticultural graduates embarked on a journey that would redefine agricultural entrepreneurship in Tamil Nadu. S. Balaji and P. Balathandayuthabani, founded B and B Organics with a vision to innovate and to create an unique online space for their organic products in the market.
The duo’s persistence in the field by refining their marketing strategies and harnessing e-commerce platforms to escalate their organic sales growth led them to the Madurai Agribusiness Incubation Forum (MABIF), a pioneering initiative supported by NABARD and hosted by Tamil Nadu Agricultural University (TNAU).
Established in 2018, MABIF has emerged as a vital hub for nurturing agricultural innovation and fostering sustainable business models. With a one-acre facility provided by TNAU, MABIF offers a comprehensive range of incubation services which meets the diverse needs of aspiring entrepreneurs. From infrastructure support to business development, legal licensing, networking, and financial facilitation, MABIF equips start- ups with the essential tools and resources needed to thrive in today’s competitive market.
Since its inception, MABIF has played a pivotal role in supporting over 354 startups across various agricultural domains. Noteworthy success stories like B and B Organics and Millet Bank underscore the efficacy of MABIF’s approach.
“MABIF aims to foster unicorns in the agricultural technology sector, envisioning startups achieving upwards of ₹10 crore. The incubator is actively pursuing increased funding opportunities to propel companies onto the global stage, facilitating international market access and scaling operations,” said K. Ganesh Moorthy CEO of MABIF.
Financially, MABIF offers critical support through grants and loans at competitive interest rates, alongside, assistance in obtaining essential legal certifications such as Food Safety and Standards Authority of India (FSSAI), export codes and product barcodes, ensuring compliance and market readiness.
“MABIF has facilitated numerous trademarks, patterns, and geographical indications, underscoring its commitment to intellectual property facilitation. Startups through MABIF benefit access to university faculty, industry experts, and collaborative opportunities to translate cutting-edge research into commercial products. With office space for up to 30 companies, affordable rental solutions, and extensive food processing capabilities, including over 20 processing lines for various products, MABIF significantly lowers the barriers to entry for startups in the agricultural sector,” Mr. Ganesh Moorthy added.
By bridging the gap between innovation and implementation, MABIF plays a pivotal role in shaping the future of agriculture in India. They have the potential to transform a farmer into a businessman. For those who enter with ideas and aspirations of entrepreneurship, MABIF can turn theoretical concepts into practical realities, he added.
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