IIM Udaipur Incubation Centre Launches First-Ever Startup Cohort towards Climate Change; Invites Eligible Startups

18 Jan, 2022 13:23 IST|Sakshi Post

IIM Udaipur has launched a Climate Change Innovation Grant for eligible startups working on climate change issues.

Grants of up to INR 4 lakhs for prototype validation and INR 7 lakhs for product development will be made available.

The deadline for applications is February 10th, 2022.

Udaipur: The Indian Institute of Management (IIM) Udaipur announced a Climate Change Innovation Grant for eligible startups in association with Meity Startup Hub, Meity, the Govt. of India, and corporate partner Transworld Group. The grant focuses on supporting early-stage climate tech ventures whose products or services are explicitly focused on reducing GHG emissions or addressing the impacts of global warming.

The participating startups will receive the opportunity to brainstorm and validate solutions with corporate partner Transworld Group, get tailored training and support, learn and share in a community of like-minded founders in a collaborative environment, incubation, and co-working space at IIM Udaipur Incubation Centre, and also an opportunity to pitch for follow-on funding under other programmes of the incubation centre.

Mr Kannan Soundararajan, CEO, Incubation Centre, IIM Udaipur, said, "We want to provide you and your startup with state-of-the-art mentoring and online training, as well as access to financial support and networking opportunities. The bottom line is a success, both for you and your start-up and for the environment with tangible climate solutions."

"We are looking for people who are motivated and passionate about fighting climate change. If you have an innovative idea, this is your chance to put it to fruition. If you’re an existing start-up and in need of financial aid and/or guidance on growing your business, this is the programme for you. He also stated that INR 4 lakhs will be made available for prototype validation and development grants to up to two entrepreneurs-in-residence, and INR 7 lakhs will be made available for product development and pilot runs to up to two startups.

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The cohort is intended to concentrate on key areas such as clean energy, mobility and transportation, agriculture and food systems, ports and shipping, green buildings and cities, and the circular economy. 

Eligibility

  • Startups with a minimum of two members or two people focused on a new technology or service with high potential for commercial viability and climate impact.
  • Your solution can address any of the problem statements mentioned for this Climate Change Innovation grant.
  • The core value proposition can be based on digital as well as non-digital solutions.
  • Your solution is at either of these stages: proof of concept, prototype development, a tested prototype, or MVP, and a roadmap designed.
  • Your ultimate solution, once developed, has the potential to be quickly commercialised and scaled.
  • Preference would be given to innovative ideas for which a patent has already been filed or can be filed in the future.

Important Dates

  • Application Starts – January 10th, 2022
  • Last date of application – February 10th, 2022
  • Evaluation of applications – February 14th–25th, 2022
  • Startup Idea Presentation—March 1st, 2022
  • Announcement of Selected Start-up Ideas: March 7th, 2022
  • Start-up Incubation and Onboarding: March 10th, 2022

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