The commerce and industry ministry today said Invest India has joined hands with energy companies to offer its three-month programme for startups in the sector. Initiatives to promote budding entrepreneurs are carried out by the department of industrial policy and promotion (DIPP), which is part of the ministry.
Invest India is a national investment facilitation agency, funded by the DIPP. “The programme – Integrate to Innovate – provides an opportunity for collaboration and conversation around valuable energy transitions, offering startups an opportunity to bring their ideas to life with the guidance and support from corporates,” the ministry said in a statement.
The selected startups will receive a cash prize grant of up to Rs 5 lakh along with an opportunity to pilot their product with corporates.
“The corporates would offer them access to technology, technical and commercial mentorship and access to potential customers through the corporate network of partners,” it added. It said that entries are invited from innovators across various stages of energy life-cycle — generation, transmission and distribution, storage and consumption — in multiple sectors such as households, farm, industry, infrastructure, building, utility and transport.