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MRIU incubated start-up Tricho Agronica receives Rs. 1.72 cr grant from Indian Oil

October 27, 2017

On October 26, Faridabad based Manav Rachna International University (MRIU) announced that its incubated start-up Tricho Agronica Pvt. Ltd. (TAPL) has been awarded with its first grant of Rs. 1.72 crore 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 eco-friendly bio-formulation against fungal pathogens in Tomato’. 
The 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 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 fertiliser. The product is 100 percent organic, highly unique and innovative product that increases plant biomass and is the remedy for ‘Bull’s Eye’ pathogen that affects almost 60 percent of the Tomato crop across the country.

The grant has been provided by IOCL under the ‘Start-up Sangam’ programme conceived by Ministry of Petroleum & Natural Gas along with the ten Oil & Gas PSUs to provide innovative start-ups from across the country. Under the programme, a total of forty start-ups have been awarded with financial grants from a corpus of Rs. 320 crore 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 percent 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.

Incepted in 1997, Manav Rachna Educational Institutions (MREI) encompasses a group of many vibrant, world class institutions including Manav Rachna International University, all of which have acquired the coveted NAAC ‘A’ grade status.

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