The Indian Institute of Management (IIM) Bangalore’s startup hub, Alstom and NSRCEL has announced the Sustainability Incubation Programme to support startups that demonstrate the potential to innovate, implement and create social, financial, and environmental impact, aligning with SDG goals. The programme will facilitate the development, scale-up, and market penetration of technology solutions that replace high-emitting, energy-hungry and non-recyclable incumbents.
The programme will foster startups in the early revenue stages. It will be selecting innovations in the areas of sustainable mobility, last-mile connectivity, sustainable logistics, and supply chain, green buildings, consumption management, agriculture and farming equipment, upcycling and recycling, and waste management. The programme will offer interactive capacity-building workshops, contextual mentorship, and ecosystem networks to the startups.
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The applicants will be shortlisted based on their ideas’ viability and the suggested solution to the problem proposed. The shortlisted ventures will be selected for a pre-incubation programme, which will help the startups build a foundation through reinforcement of business fundamentals and need-based mentoring.
In the next phase, the shortlisted ventures will enter a six-month incubation programme based on their prototypes and their pitches presented to the screening committee. The programme’s content is tailored to meet the individual needs of each startup participating in it, says the IIM. The startups will receive guidance on manoeuvring the ecosystem, policy, and regulations. A funding grant corpus of Rs 1.5 crores has been earmarked to support the startups.
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.”
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“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.
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