Rural Innovation Fund

Name of the scheme:  Rural Innovation fund

Guiding Principles of the fund:

• The activities must have the rural poor in their focus and must be innovative, experimental and demonstrative in nature leading to replicability and commercial viability.
• The activities funded may involve development of new products, processes, prototypes, technology, patenting and extension support.
• Appropriate action research and studies contributing to better understanding of rural development issues, policy and process implementation may be undertaken.

Type of Projects that can be supported under RIF:

All innovations and related activities in the Farm, Rural Non-Farm and MicroFinance sectors can have access to the RIF. Assistance from RIF will be available for all activities which are in keeping with the guiding principles of RIF and specifically those which provide technology and skill upgradation, inputs supply and market support leading to promotion of viable enterprises, sustainable employment, infrastructure development, improved flow and access of credit to rural entrepreneurs.

Preferred Sectors:

• Dry land/rain fed farming,
• Innovative rainwater harvesting for rural dwellings,
• Rural energy from biomass/agricultural wastes,
• Techniques for increasing the value of crop residues and non-crop bio mass,
• Community regulation of distribution and use of water and energy,
• Storage devices for agricultural and rural products,
• Innovative methods of managing
• Common Property Resources,
• Materials and designs for rural roads
• Rural sanitation and waste disposal

Eligibility:

Individuals, NGOs, Community Based Organizations, SHGs, Farmer’s Club, Panchayati Raj Institutions and Corporates who have the expertise and willingness to implement innovative ideas for improving the quality of life in rural areas may apply.

Financial Support:

Support available under RIF can be in the form of loan / grant/ incubation fund support, or a mix of all the three components. The support would be need based, cost effective and dependent on the requirement of the project, also taking into account some financial involvement by the proposer. This will be decided on a case-to-case basis.

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