IIM Ahmedabad Incubator Invests in Agri-Fintech Startup OneImpact Technologies

New Delhi: IIM Ahmedabad based OneImpact Technologies, an agri-fintech startup has announced that it has received seed funding from CIIE.CO, an IIM Ahmedabad-based startup incubator.

The IIMavericks programme of IIM Ahmedabad, which gives mentorship and financial support to graduate students in creative activities such as start-ups, provided funds for the company.

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OneImpact Technologies aims to make credit more accessible to dairy farmers. Using digital technology, artificial intelligence, and machine learning skills, the company hopes to assist farmers with financing by allowing identification, risk profiling, and diversification of credit portfolios.

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Maharshi Thaker, a second-year student at IIM Ahmedabad, founded the company in 2002. Thaker said, “I was always very purpose-driven, and dropping out of the IIMA placements was a big decision, however, I was committed to build a business that would create value and benefit the masses. In the pursuit of my dream, I received tremendous support from the IIMavericks programme, and today we, at OneImpact, are on the path to revolutionise Agri-lending in India via digital technologies”.

"We understand that The most critical period for any entrepreneur is the first two years of business challenges. Identifying this need gap, we launched the IIMAvericks program to provide mentorship & financial support to graduating students to help them sustain during the initial period of their venture. Happy to extend the same support and guidance to OneImpact." said, Vipul Patel, Partner, Seed Investing at CIIE.CO.

Recently, IIM Ahmedabad has inked MoU with IFSCA to strengthen active participation in evidence-based research to aid policy formulation and encourage research in emerging financial areas. According to the agreement, both institutions will look into prospects for research, consulting, training, internships, and capacity building for policy analysis and development in finance and technology convergence.

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