IIM Ahmedabad’s Centre for Innovation Incubation and Entrepreneurship (CIIE) has joined hands with the Asian Development Bank to launch PowerStart to strengthen the cleantech entrepreneurship ecosystem and build technical and business capacity in cleantech entrepreneurs, and providing more access to early stage funding.
PowerStart is an intensive bootcamp and accelerator programme for early stage start-ups as well as individuals keen on building a cleantech venture from scratch – and aims at providing business, technology, policy and financial support to new ideas and enterprises. PowerStart leverages the strong network and experience of its partners – Asian Development Bank, Infuse Ventures and IIM Ahmedabad’s Centre for Innovation Incubation and Entrepreneurship (CIIE) – to help build a conducive ecosystem for cleantech entrepreneurship in India.
Infuse Ventures is a unique fund and ecosystem backed by the Government of India, BP, IFC and other domestic investors. ADB support for the programme is being provided through their Climate Technology Finance Centre (CTFC) project.
Early stage ventures and individuals keen on accelerating their ideas can access the application forms through Infuse Ventures Website and will get access to 4-days of rigorous mentoring at IIM Ahmedabad. During this 4-day bootcamp, the ventures will get to interact with all relevant stakeholders of the ecosystem – including policy-makers,successful entrepreneurs, investors, among others.
Subsequently the entrepreneurs will also be provided with 3-4 months of active acceleration support from mentors in the Infuse ecosystem. All travel and lodging expenses of participants during the bootcamp will be borne by ADB and Infuse.
The selected ventures would also be considered for investment between Rs 25 lacs – Rs 5 crores by Infuse Ventures, based on the stage and needs of each venture.