Indian government is leveraging the food processing sector's substantial potential, emphasizing the comprehensive advancement of all sub-segments throughout the entire value chain, from farm gates to retail outlets. This initiative underscores the government's commitment to nurturing startups and fostering innovation within the food processing industry by initiating the annual tradition to mark the debut of Start-up Forum for Aspiring Leaders and Mentors (SUFALAM).
The objective of the conclave is to facilitate collaboration, knowledge exchange, and the advancement of food processing startups, which is imperative for fostering growth and innovation within the food processing industry. This extensive initiative seeks to bring together a wide spectrum of stakeholders from the established food processing sector and the burgeoning startup ecosystem. The overarching aim is to cultivate a holistic environment that encourages collaborative efforts, mentorship opportunities, and the sharing of resources.
MoFPI has organized a two-day event on 13 and 14 February 2024 to achieve these goals. The Ministry and NIFTEM-K are putting forth a diverse range of activities for the two-day event. These include two engaging pitching sessions, three knowledge sessions, two panel discussions. The event envisages the participation of 100 Start-ups and food companies like Nestle, ITC, Dabur, Buhler, Waycool, Marico, TCPL, and a few more, besides representation from a few banks. The participants will also include Academicians, students, Researchers and members from Industry Associations. In addition to this, around 30 Start-ups and 12 PM-FME beneficiaries will be showcasing their innovative products, technologies during the event.
Recognizing the pivotal role of startups in catalyzing innovation and growth, Ministry of Food Processing Industries, Government of India, strategically directs efforts to position India as a global food hub. Focused on fostering entrepreneurship, the ministry is channeling investments into key areas of the food processing sector, with a special emphasis on startups. These initiatives encompass various aspects such as backward linkages, food processing equipment, research and development related to processing, and cold chain storage solutions and form an integral part of the comprehensive strategy aimed at bolstering the entire food processing value chain, including logistic and retail chains.
Throughout this two-day event, the focus will be on delving into the immense potential residing within the sector and reflecting upon the indispensable role that startups play in driving its growth and transformation.
MoFPI is also organizing the next World Food India (WFI) edition 2024, from 19 to 22 September 2024. SUFALAM will provide an opportunity to contemplate the symbiotic relationship between startups and the dynamic evolution of the food processing industry. At the same time, WFI, 2024 will link them to the large canvas of the sector.