An educational institute’s Incubation program, a Govt. backed Venture Capital company and an international bank have come together to nurture entrepreneurs who wish to develops new businesses and technologies in the field of Cleantech.
Early-stage investment firm Infuse Ventures and IIM Ahmedabad’s Centre for Innovation Incubation and Entrepreneurship (CIIE) have partnered with the Asian Development Bank (ADB) to launch ‘PowerStart’, an Incubation and Accelerator Program which is meant exclusively for Cleantech startups and entrepreneurs in the country. The four month long program is set to commence from November 15th of this year itself.
Meant to be essentially a rigorous and techno-commercially intensive bootcamp for nascent entrepreneurs, the JV will help the budding technocrats understand the multiple aspects of creating a sustainable business ecosystem for the oft neglected, but highly critical field of Cleantech. Individuals as well as early stage ventures will initially undergo 4 days of intensive training and mentoring session at IIM Ahmedabad. During the same, the chosen participants will interact with relevant stakeholders of the ecosystem. The batch will also hold discussions with policy makers, successful and serial entrepreneurs and investors as well. The JV will additionally bear the lodging & traveling expenses of the chosen participants.
PowerStart is meant to promote the culture of thinking exclusively for Cleantech and help companies who have dared to venture into this filed, get a strong foothold and receive the necessary mentorship. This will in turn, ensure that the technologies developed, find commercial applications and help promote the culture of Cleantech in India. Coincidentally, Infuse Ventures is a unique funding agency and an ecosystem backed by the Government of India, BP, IFC and other domestic investors.
At the end of the incubation period, the JV will decide the relevant funding amount which will vary between Rs. 25 Lakhs to Rs 5 Crores by Infuse Ventures, based on the individual need of the company and its relevant stage of development. Serious attention to Cleantech entrepreneurship has been somewhat rare in India, but such Startup Accelerator programs could alter the situation. What do you think?
Interested parties should submit their application Here.
Image credits: se