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ADB to support IIM-A’s clean tech initiative

According to reports, the Asian Development Bank (ADB) is supporting an initiative of IIM Ahmedabad’s Centre for Innovation Incubation and Entrepreneurship in holding an intensive boot-camp and accelerator programme for early stage startups and individuals in the area of clean tech.

The PowerStart programme is for early stage ventures and individuals keen on accelerating their ideas. Participants will get access to four days of rigorous mentoring at IIM Ahmedabad.

During this four-day boot-camp, the ventures will get to interact with all relevant stakeholders of the ecosystem – including policymakers, 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 will be borne by ADB and Infuse. ADB’s support for the programme comes from its Climate Technology Finance Centre.

The selected ventures would also be considered for investment between Rs 25 lakh and Rs 5 crore by Infuse Ventures, based on the needs of each venture, said a press release. Infuse Ventures is an India-focussed early stage venture capital fund set up and managed by the Centre for Innovation Incubation and Entrepreneurship.

“There are several untapped opportunities in the clean tech sector which PowerStart entrepreneurs can explore during their engagement with us,” says Kunal Upadhyay, CEO, Infuse Ventures.

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