Nabard has decided to support entrepreneurs in the agriculture sector with venture capital.

Speaking to The Telegraph after a conference on venture capital in agribusiness, R.K. Das, the chief general manager of Nabard, Bihar regional office, said evaluations were on for the initiative.

Nabard (National Bank for Agriculture and Rural Development) looks after the development of cottage industries and other rural industries.

"We will not be direct venture capitalists. Nabard would provide funds to a governing body and it would be used to help entrepreneurs and start-ups, who are finding a way in the agro business. For example, funds would be provided to the Small Industries Development Bank of India and a Nabard official would monitor the venture-funding exercise being executed by the bank. A proper research on the project is being done and soon, a report would be released," said Das on the sidelines of the conference organised by the PHD Chamber of Commerce and Industry at a city hotel.

Sources said the project is likely to start in four-six months.

Venture capital is kind of a fund provided to a private limited company, which is in its early stages and has high potential.

Among the guests at the conference were Shaibal Gupta, the member-secretary of Asian Development Research Institute, and former deputy chief minister Sushil Kumar Modi.

The senior BJP leader said with the Centre taking steps towards ease of doing business, the state government should assist such initiatives.