Social Alpha, a multistage innovation curation and venture development platform for science and technology start-ups, has partnered with FedEx Express to launch the ‘FedEx and Social Alpha Accelerator for Sustainable Last-mile Logistics’.
The programme was rolled out to specifically identify and accelerate start-ups that have showcased promising innovations in electric bicycles without compromising quality and user experience. Based on the entries received, two ventures, Mag9 Energies and Accelero Vehicles, have been selected as the final cohort. Through Social Alpha, FedEx will also extend its expertise to start-ups in the programme around technology, innovation, and tools needed to scale their company and grow into a successful venture.
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Smita Rakesh, Vice President and Partner, Social Alpha, said, “We are confident that both Accelero and Mag9 will make the best use of this support and the full-stack innovation architecture of Social Alpha, to scale their solutions for the most underserved user groups. We are happy to work with FedEx toward the shared vision of making mobility not just sustainable, but also equitable, to contribute towards a just energy transition for India.“
Suvendu Choudhury, Vice President, India Operations, FedEx Express, said, 'Electric-powered bicycles create a more sustainable and efficient mode of transportation that benefits both urban and rural communities. E-bikes offer a healthier transportation alternative for millions of people by reducing carbon emissions, combating rising fuel prices, and easing congestion on Indian roads. In sum, they foster a more sustainable and equitable future.“