NSRCEL, the start-up hub at IIM Bangalore, and Alstom, a sustainable mobility provider in India announced their partnership to implement the Sustainability Incubation Program to support startups that demonstrate the potential to innovate and implement and create social, financial, and environmental impact, aligning with SDG goals. The program will facilitate the development, scale-up, and market penetration of technology solutions that replace high-emitting, energy-hungry and non-recyclable incumbents.
The program will foster startups in the early revenue stages. The program 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 and recycling, and waste management.
Olivier Loison, Managing Director, 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.”
“Entrepreneurs have become the driving force for innovation and adoption in the sustainability space. Through the program, we ultimately look to equip entrepreneurs with the potential to catalyse the development of more sustainable and inclusive societies through their innovative solutions.” said Anand Sri Ganesh, COO, NSRCEL.
The applicants will be shortlisted based on the viability of the idea and the suggested solution to the problem proposed to be solved. The shortlisted ventures will be selected for a pre-incubation program. The pre-incubation will help the startups build a foundation through reinforcement of business fundamentals & need-based mentoring. In the next phase, the shortlisted ventures will enter a 6-month incubation program based on their prototypes and their pitches presented to the screening committee.
The program 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 program will offer interactive capacity-building workshops, contextual mentorship and ecosystem networks to the startups.
The program’s content is tailored to meet the individual needs of each startup participating in the program. During the program, the startups will receive guidance on manoeuvring the ecosystem, policy, and regulations. A funding grant corpus of Rs 1.5 crore has been earmarked to support startups with the highest potential to create impact.