Alstom, a firm in smart and sustainable mobility, has partnered with NSRCEL at IIM Bangalore to launch the second cohort of their Sustainability Incubation Program.
According to reports, the program aims to support startups focused on combating climate change and sustainability challenges. It is also aimed to help startups develop and integrate technology solutions that are environmentally friendly, replacing high-emission and energy-intensive alternatives.
What are the focus areas of the program?
The program targets startups in their early revenue stages, concentrating on innovations in green manufacturing, mobility infrastructure, energy, renewable energy, climate technology, alternative fuels, and vehicle technology.
It aims to build sustainable technology, create favorable policy environments, and establish scalable business models that prioritize climate-centric solutions.
Program structure
From a pool of 344 applications, 22 ventures were shortlisted based on the viability of their ideas. These startups will undergo a pre-incubation program to strengthen their business fundamentals, followed by a six-month incubation phase for developing prototypes and refining pitches.
The program offers customized content, interactive workshops, mentorship, and ecosystem connections. A funding grant pool of Rs. 1.5 crores is allocated to support high-potential startups.
How successful was the first cohort?
The first cohort of the Sustainability Incubation Program saw significant success. Out of 20 startups, ten ventures were nurtured, generating a monthly revenue of Rs 31,105,000 and receiving total funding of Rs 221,400,000.
The program attracted clients like SEG Automotive-Mahindra Electric, Zypp Electric, Tata Elxsi, Shell Foundation, and Bounce.
Join our new WhatsApp Channel for the latest updates on the Indian startup ecosystem