The incubation facility at CFTRI aims to support and guide spices exporters and startups in developing innovative products and processes.
Spices Board India, under Ministry of Commerce and Industry, Government of India, and the Central Food Technological Research Institute (CFTRI), Mysuru have signed a Memorandum of Understanding (MoU) to establish incubation facilities for spices with the aim to support and guide spices exporters and startups in developing innovative products and processes.
The establishment of the incubation facility at CFTRI is expected to support new product and process development in spices, as well as foster innovations and technologies for value addition, potentially diversifying the spices export basket and standardising processes for innovative products. The initiative will provide Indian spices with new business and export opportunities.
The selected incubatees will receive support for up to 18 months, including office space, technical support, access to relevant equipment, laboratory facilities, resources, knowledge sources, etc.
The Board has devised a pilot scheme to assist incubatees with 90 percent of project costs up to a maximum of Rs 10 lakh per incubatee during the incubation period.
The horticulture sector faces many production challenges that stop it from realising its full potential, such as small operational landholdings, lack of irrigation and poor soil management.