Centre announces lab-to-market opportunity for Indian energy sector start-ups
Joe C Mathew August 2, 2018
Invest India, the national investment promotion and facilitation agency set by the Central government has joined hands with energy sector companies to offer lab-to-market opportunity for Indian start-ups through a three month 'Integrate to Innovate' Programme.
Start-up firms focusing on the energy sector will undergo this corporate acceleration programme by running pilot projects along with established energy companies within their premises. In addition, selected start-ups will receive a cash prize of up to Rs 5 lakh each. The corporates would offer them access to technology, technical and commercial mentorship and access to potential customers through the corporate network of partners.
Entries are invited from innovators across various stages of the energy life-cycle - generation, transmission and distribution, storage and consumption - in multiple sectors such as household, farm, industry, infrastructure, building, utility and transport. The winners will be assessed on select parameters such as the breakthrough nature of the innovation, business viability and scalability potential.
"The programme provides an opportunity for collaboration and conversation around valuable energy transitions, offering startups an opportunity to bring their ideas to life with the guidance and support from corporates. The application for the programme is hosted on Startup India Hub - an online platform bringing together all stakeholders of the Indian startup ecosystem," a ministry statement said.
The specific areas of interest, for the programme in the household category include, home automation, e-commerce marketplace for smart home products and support services and rooftop solar and home energy storage. In the area of transport, electric vehicle, EV infrastructure and gas powered trucks are the priority areas. Waste to value to boost farm sector, renewable, grid and micro-grids, storage battery, sensors, drones data analytics, workforce mobility and cyber security are the areas that are covered within the broad framework of infrastructure.
Projects related to metering, billing and customer analytics, demand response and distributed energy resource management systems, transactive energy, blockchain based energy trading and energy marketplaces come under the 'utility' umbrella. Start-ups with ideas in energy efficiency and cooling, B2B e-markets, automation efficiency and predictive asset management can also apply.
Invest India, a non-profit venture under the Department of Industrial Policy and Promotion, Ministry of Commerce and Industries, has the mandate to provide multiple forms of support such as market entry strategies, deep dive industry analysis, partner search and location assessment, and policy advocacy with decision makers.