During the last few years, India has witnessed the entry of several tech startups coming up with different products/services under the bandwagon of clean technologies. From electric chullas to solar-powered LED lights to electric cars and water purification systems, startups have shown that cleantech enterprises can make money, scale in size and do social good at the same time. So if you are working on that next big thing under clean tech industry, here is your chance to grab between INR 25 Lac to INR 5 Crore and accelerate your growth in the rocket mode.
INFUSE Ventures, a cleantech focused early stage venture fund in participation with the Asian Development Bank, has launched ‘PowerStart’ – a unique boot camp and accelerator programme for current/aspiring entrepreneurs in the cleantech & renewable energy space in India.
The program will help early stage startups and individuals working in cleantech by offering business, technology, policy and financial assistance. Selected ideas/startups will undergo a 4-day long PowerStart Bootcamp at IIM Ahmedabad starting on 11th November, which will then be followed by the active acceleration support under the mentorship of Alok Srivastava, Joint Secretary in the Ministry of New and Renewable Energy; Gauri Singh, Director at International Renewable Energy Agency (IRENA) and H.Harish Hande, MD at SELCO among others. The startups will then pitch to attract seed funds.
The last date for applying to be a part of the PowerStart is 19th October 2013.
Speaking on the occasion, Kunal Upadhyay, CEO, INFUSE Ventures said “Apart from supporting existing start-ups, our focus is on co-creating capital-efficient cleantech ventures from scratch. We invite individuals with relevant expertise in areas like information technology, analytics, supply chains and financing to work closely with us, leverage our networks and ideas and co-create scalable ventures.”
Some of the 12 selected startups for its 2012-13 batch are Grampowe (Rajasthan), PowerHac (West Bengal), Fourth Partner Energy (Hyderabad) and Green Brick Eco Solutions (New Delhi).
INFUSE Ventures is an early stage venture fund, focused on sustainable energy and clean technology sector in India. Backed by the Government of India and several leading global businesses, INFUSE is housed at IIM Ahmedabad’s Centre for Innovation Incubation and Entrepreneurship (CIIE).
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