A funding grant of Rs. 1.5 crores has been earmarked to support and foster start-ups in early revenue stages
Alstom, a provider of smart and sustainable mobility, and NSRCEL, the start-up hub at IIM Bangalore, have partnered to implement the Sustainability Incubation Programme. It will support start-ups that demonstrate the potential to innovate and implement and create social, financial, and environmental impact, aligning with SDG goals. The programme will facilitate the development, scale-up, and market penetration of technology solutions that replace high-emitting, energy-hungry and non-recyclable incumbents.
The programme will foster startups in early revenue stages. The programme will be selecting innovations in the areas of sustainable mobility, last-mile connectivity, sustainable logistics and supply chain, green buildings, consumption management, agriculture and farming equipment, upcycling & recycling, and waste management.
The applicants will be shortlisted based on their ideas’ viability and the suggested solution to the problem proposed. The shortlisted ventures will be selected for a pre-incubation programme, which will help the startups build a foundation through reinforcement of business fundamentals and need-based mentoring. In the next phase, the shortlisted ventures will enter a six-month incubation programme based on their prototypes and their pitches presented to the screening committee.
The programme is specifically designed to facilitate knowledge and expertise among ventures in the sustainability space by equipping them with the capability to analyse their product market fit for multiple contexts. The programme will offer interactive capacity- building workshops, contextual mentorship and ecosystem networks to the startups.
The programme’s content is tailored to meet the individual needs of each startup participating in the programme. During the programme, the startups will receive guidance on manoeuvring the ecosystem, policy, and regulations. A funding grant corpus of Rs. 1.5 crores has been earmarked to support startups with the highest potential to create impact.
Olivier Loison, MD, Alstom India said, “Alstom’s ambition is to accelerate innovation in sustainable mobility and move the world closer towards clean and green transport. This vision is driving some of our CSR investments in the country. Our partnership with NSRCEL - IIMB will help us identify and nurture virtuous partnerships, accelerate local development and support inspiring and transformative projects.”
“Entrepreneurs have become the driving force for innovation and adoption in the sustainability space. Through the programme, we ultimately look to equip entrepreneurs with the potential to catalyse the development of more sustainable and inclusive societies through their innovative solutions. With Alstom, we wish to nurture mobility solutions that provide the sustainable foundations for the future,” added Anand Sri Ganesh, COO at NSRCEL.