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Rif Innovation Presentation

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Abhishek Pandya
Abhishek Pandya

The document discusses NABARD's Rural Innovation Fund (RIF), which aims to fund innovative ideas and projects in rural areas that promote livelihood opportunities. Key points: 1) RIF will fund innovative projects in agriculture, non-farm activities, and microfinance that are focused on the poor, commercially viable, and have potential for scaling up and replication. 2) Eligible projects include those providing skills/technology, sustainable employment, infrastructure, and improving efficiency of credit delivery. 3) Funding can cover up to 90% of project costs and be provided as grants, loans or equity. Priority is given to projects with no other funding options.

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PRESENTATION BY NABARD Regional Office, Gujarat
NABARD SDC Rural Innovation Fund Quotable Quotes: The next 10 years would be dedicated as a decade of innovation President of India in her address to Parliament on 04 th June 2009. Education and Innovation will be the currency of the 21 st century President Obama, Cairo, 07 th June 2009
What is innovation ? Innovation is all about converting ideas into new or improved products, processes and services. Ideas need to be processed and evaluated for deriving benefits and practical use. No dearth of innovative ideas. Challenge is to spot them and help develop them for common good. NABARD SDC Rural Innovation Fund
NABARD SDC Rural Innovation Fund Objective: To try out new ideas and innovations with a scaling up potential, in Farm, Non farm & Micro finance sectors, for promoting livelihood opportunities and employment creation in rural areas and facilitating financial and business promotion services for the poor.
Guiding Principles Activities in Farm/ Non-farm/ Micro Credit sub-sectors/ thrust areas Poor focused Innovative/ Experimental Demonstrative Replicable Commercially viable models
Guiding Principles (cont..) Involves development of new products/ Processes/ Services Includes prototyping/ piloting/ field testing of the innovation Patenting the innovation Extension Support
Eligible Activities All innovations and related activities in FS, NFS and micro finance sectors such as Those providing technology and skill upgradation, inputs supply, sustainable employment, infrastructure development Undertake innovations to improve the efficiency of credit delivery and other support services.
Eligible Activities (contd..) Patenting innovations leading to commercialization of the idea through licensing or otherwise. proposals which aim at increasing productivity and profitability of operations of the farmers, artisans, handicraft persons and rural people in general. projects that help in reducing drudgery, improving access to market, projects that help better sanitation, health and hygienic conditions and environment in rural areas.
Eligible Activities (contd..) Proposals, which help in creating sustainable employment opportunities in rural India. Proposals, which improve farm practices, and help in conserving the land fertility. Research studies for documenting the innovations already taking place in rural areas and examining issues concerned with rural cottage & village industries /farm sector / farming practices.
Eligible Institutions/ Individuals for Support Registered VAs/ NGOs, Community/People based organisations/Trusts, Cooperatives/ KVKs/ PRIs with proven track record Group of Persons like Farmers Clubs, SHGs, Producer Groups,Civil Society Organisations (formal or informal) Academic Institutions like Universities/ Research Institutions Any organisation eligible for refinance support from NABARD
Eligible Institutions/ Individuals for Support(cont..) mFIs/ Other financial institutions extending financial services to rural poor. Corporates or organizations floated by corporates for taking up rural development activities. Any other organization whose objectives/ activities are in consonance with RIF Objectives. Individuals/ proprietary concerns/ partnership firms with proven competence to implement the project
Criteria for Selection of Beneficiaries Projects which have no access to alternate funding avenues given top priority. For individuals, their competence for implementing the project will be verified through references/ other means In case of Organisations - At least 2 years of existence, proven track record in development initiatives, financially stable and organizationally well equipped to implement the project. For mFIs, the criteria laid down by mCID for SHG- Banks linkage programme will be applicable
Eligible items of expenditure for funding Items of expenditure crucial for implementing the project. Administrative and recurring costs including core staffs salary and other miscellaneous expenditure Items such as expenditure on patenting the product and other statutory levies Capital Expenditure for buildings, vehicles, etc. will not be generally considered and be part of the innovators contribution. Exceptions in the case of hilly areas and resource poor regions. Rent for Common Service Centers, Common Work sheds for workers, etc. on merits.
Quantum/Mode of Assistance Innovator encouraged to bring in own contribution to the maximum extent possible for the project (including support from other possible sources) Only the balance subject to a maximum of 90% of the project cost can be considered for funding Funding can be made by way of grant, loan, venture capital assistance, etc. or a combination.
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 and Rural sanitation and waste disposal.
Progress so far Projects sanctioned all over India (no.s) - 120 Funding support - 2400 lakh Projects sanctioned in Gujarat (nos.) - 8 Funding support - 75 lakh
General shortcomings noticed Lack of innovative element Pure research without field applicability Very high project outlays Bankable commercial ventures Not environmental friendly.
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Rif Innovation Presentation

  • 1. PRESENTATION BY NABARD Regional Office, Gujarat
  • 2. NABARD SDC Rural Innovation Fund Quotable Quotes: The next 10 years would be dedicated as a decade of innovation President of India in her address to Parliament on 04 th June 2009. Education and Innovation will be the currency of the 21 st century President Obama, Cairo, 07 th June 2009
  • 3. What is innovation ? Innovation is all about converting ideas into new or improved products, processes and services. Ideas need to be processed and evaluated for deriving benefits and practical use. No dearth of innovative ideas. Challenge is to spot them and help develop them for common good. NABARD SDC Rural Innovation Fund
  • 4. NABARD SDC Rural Innovation Fund Objective: To try out new ideas and innovations with a scaling up potential, in Farm, Non farm & Micro finance sectors, for promoting livelihood opportunities and employment creation in rural areas and facilitating financial and business promotion services for the poor.
  • 5. Guiding Principles Activities in Farm/ Non-farm/ Micro Credit sub-sectors/ thrust areas Poor focused Innovative/ Experimental Demonstrative Replicable Commercially viable models
  • 6. Guiding Principles (cont..) Involves development of new products/ Processes/ Services Includes prototyping/ piloting/ field testing of the innovation Patenting the innovation Extension Support
  • 7. Eligible Activities All innovations and related activities in FS, NFS and micro finance sectors such as Those providing technology and skill upgradation, inputs supply, sustainable employment, infrastructure development Undertake innovations to improve the efficiency of credit delivery and other support services.
  • 8. Eligible Activities (contd..) Patenting innovations leading to commercialization of the idea through licensing or otherwise. proposals which aim at increasing productivity and profitability of operations of the farmers, artisans, handicraft persons and rural people in general. projects that help in reducing drudgery, improving access to market, projects that help better sanitation, health and hygienic conditions and environment in rural areas.
  • 9. Eligible Activities (contd..) Proposals, which help in creating sustainable employment opportunities in rural India. Proposals, which improve farm practices, and help in conserving the land fertility. Research studies for documenting the innovations already taking place in rural areas and examining issues concerned with rural cottage & village industries /farm sector / farming practices.
  • 10. Eligible Institutions/ Individuals for Support Registered VAs/ NGOs, Community/People based organisations/Trusts, Cooperatives/ KVKs/ PRIs with proven track record Group of Persons like Farmers Clubs, SHGs, Producer Groups,Civil Society Organisations (formal or informal) Academic Institutions like Universities/ Research Institutions Any organisation eligible for refinance support from NABARD
  • 11. Eligible Institutions/ Individuals for Support(cont..) mFIs/ Other financial institutions extending financial services to rural poor. Corporates or organizations floated by corporates for taking up rural development activities. Any other organization whose objectives/ activities are in consonance with RIF Objectives. Individuals/ proprietary concerns/ partnership firms with proven competence to implement the project
  • 12. Criteria for Selection of Beneficiaries Projects which have no access to alternate funding avenues given top priority. For individuals, their competence for implementing the project will be verified through references/ other means In case of Organisations - At least 2 years of existence, proven track record in development initiatives, financially stable and organizationally well equipped to implement the project. For mFIs, the criteria laid down by mCID for SHG- Banks linkage programme will be applicable
  • 13. Eligible items of expenditure for funding Items of expenditure crucial for implementing the project. Administrative and recurring costs including core staffs salary and other miscellaneous expenditure Items such as expenditure on patenting the product and other statutory levies Capital Expenditure for buildings, vehicles, etc. will not be generally considered and be part of the innovators contribution. Exceptions in the case of hilly areas and resource poor regions. Rent for Common Service Centers, Common Work sheds for workers, etc. on merits.
  • 14. Quantum/Mode of Assistance Innovator encouraged to bring in own contribution to the maximum extent possible for the project (including support from other possible sources) Only the balance subject to a maximum of 90% of the project cost can be considered for funding Funding can be made by way of grant, loan, venture capital assistance, etc. or a combination.
  • 15. 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 and Rural sanitation and waste disposal.
  • 16. Progress so far Projects sanctioned all over India (no.s) - 120 Funding support - 2400 lakh Projects sanctioned in Gujarat (nos.) - 8 Funding support - 75 lakh
  • 17. General shortcomings noticed Lack of innovative element Pure research without field applicability Very high project outlays Bankable commercial ventures Not environmental friendly.
  • 18. 油