The Sustainability Incubation Programme has been announced by the startup hub of the Indian Institute of Management (IIM) in Bangalore, Alstom, and NSRCEL to support startups that have the potential to innovate, implement, and have a positive social, financial, and environmental impact in line with SDGs. The programme will make it easier for technological solutions to be developed, scaled up, and adopted by the market in place of current high-emitting, energy-guzzling, and non-recyclable alternatives.
The Selection Criteria
The programme will support startups in their initial stages of earning money. It will be choosing breakthroughs in the fields of sustainable buildings, consumption management, agriculture and agricultural equipment, upcycling and recycling, trash management, last-mile connectivity, sustainable logistics, and supply chain. The programme will provide the startups with engaging seminars for increasing capacity, relevant mentoring, and ecosystem networks.
Based on the validity of the applicants’ ideas and the proposed solution to the problem, a short list of candidates will be chosen. The businesses that make the shortlist will be chosen for a pre-incubation programme, which will assist the entrepreneurs in laying a foundation by reinforcing business basics and providing them with need-based mentoring.
Based on their prototypes and proposals to the screening committee, the shortlisted ventures will begin a six-month incubation programme in the following phase. According to the IIM, the program’s material is customised to match the specific needs of each participating firm. The startups will be given instructions on how to navigate the ecosystem, policies, and rules. To assist the entrepreneurs, a grant funding corpus of Rs 1.5 crores has been set up.
To Accelerate Innovation
Olivier Loison, Managing Director of 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,” said Anand Sri Ganesh, COO at NSRCEL.