Manav Rachna International University Incubated Start-Up Agronica Tricho Receives Rs. 1.72 cr Grant from IOCL
- Developed one-of-its-kind organic bio-formulation against Fungal pathogens in Tomato
- The only all women team in list of 40 start-ups participating in Start-Up Sangam program
INVC NEWS Delhi NCR, Manav Rachna International University (MRIU), today announced that its incubated start-up Tricho Agronica Pvt. Ltd. (TAPL) has been awarded with its first grant of Rs. 1.72 crores by the Indian Oil Corporation Ltd (IOCL), India’s largest commercial enterprise. The capital was awarded to the start-up venture founded in April 2017, for the world’s first ‘innovative and ecofriendly bio-formulation against fungal pathogens in Tomato’. This unique formulation has been developed by an all-women team from Manav Rachna International University comprising Dr. Sarita Sachdeva, Professor & Dean Research, MRIU; Dr. Abhilasha Shourie, Professor & Head, Department of Biotechnology; Dr. Nidhi Didwania, Assistant Professor, Biotechnology and Ms. Deepti Sadana, Research Scholar, Biotechnology. Keeping in view an eco-friendly approach and farmer’s aspirations, the team is engaged in production of a bio-formulation ‘Bio elixir’ which is a bio fungicide as well as a bio fertilizer. The product is 100% organic, highly unique and innovative product that increases plant biomass and is the remedy for ‘Bull’s Eye’ pathogen that affects almost 60% of the Tomato crop across the country. The grant has been provided by IOCL under the ‘Start-up Sangam’ program conceived by Ministry of Petroleum & Natural Gas alongwith the ten Oil & Gas PSUs to provide innovative start-ups from across the country. Under the program, a total of forty start-ups have been awarded with financial grants from a corpus of Rs. 320 crores pooled by the ten PSUs. An elated Dr. Sarita Sachdeva, Professor & Dean Research, MRIU said, “Indian Oil Corporation Ltd. (IOCL) has shown tremendous confidence in the product and attempts would now be ushered to gel it with IOCL agro oil which will increase the shelf life and efficacy of the product. We have already demonstrated a 25-35% increase in tomato cultivation in Faridabad and are very confident of scaling up this project across the country. Over the next three years, our team will work towards translation of this innovative research to commercials”. Dr. Prashant Bhalla, President, Manav Rachna Educational Institutions said: “As an education service provider, our endeavour has always been to felicitate all round development hence incubating entrepreneurial spirit is an integral part of our vision. Building on this thought, we have successfully incubated almost 70 companies in varied streams and today this recognition is a testimony to our efforts that we will continue to nurture.” It is noteworthy that the team from Manav Rachna is the only team from a Private University to make it to this list of 40 start-ups which have academic affiliation with IIMs, IITs and an International University. The formal MoU was exchanged at the Compedium of Start-ups in Oil & Gas Sector on 25 October in Delhi, between R&D Centre, Indian Oil Corporation and Manav Rachna International University in the presence of Shri. Dharmendra Pradhan, Minister for Petroleum & Natural Gas and Shri Amitabh Kant, CEO, NITI Aayog.