NSRCEL, the start-up hub at IIM Bangalore has announced its partnership with Alstom to implement the Sustainability Incubation Programme to support start-ups that demonstrate the potential to innovate and implement and create social, financial, and environmental impact, aligning with SDG goals.
Notably, 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.
According to a press release from NSRCEL, the programme will facilitate the development, scale-up, and market penetration of technology solutions that replace high-emitting, energy-hungry and non-recyclable incumbents.
Additionally, it will foster startups in the early revenue stages by selecting innovations in the areas of sustainable mobility, last-mile connectivity, sustainable logistics & supply chain, green buildings, consumption management, agriculture & farming equipment, upcycling & recycling, and waste management, the release added.
Interestingly, the programme will offer interactive capacity-building workshops, contextual mentorship and ecosystem networks to the startups.
The applicants will be shortlisted based on the viability of the idea and the suggested solution to the problem proposed to be solved.e
The shortlisted ventures will be selected for a pre-incubation programme and it will help the start-ups build a foundation through reinforcement of business fundamentals & need-based mentoring.
While in the next phase, the shortlisted ventures will enter a 6-month incubation programme based on their prototypes and their pitches presented to the screening committee, the release said.
Alongside, a funding grant corpus of INR 1.5 crore have been earmarked to support start-ups with the highest potential to create impact, it added.
Olivier Loison, Managing Director, Alstom India said that through the programme, the company aims to accelerate innovation in sustainable mobility and move the world closer towards clean and green transport.
Anand Sri Ganesh, COO, NSRCEL, noted that entrepreneurs have become the driving force for innovation and adoption in the sustainability space.