In what will prove to be a significant boost for women-led companies looking to enter into the energy sector, POWERED accelerator has announced a seed fund wort $10,000 to each of the six startups it accepted into its first cohort.
To set context, POWERED is a joint venture between Shell Foundation (a UK based charity), the UK Government’s Department for International Development (DFID) and Government of India’s Department for Science and Technology (DST). The accelerator is managed by ZONE startups in Mumbai.
The six women led startups selected for the seed fund are:
Cellerite Systems – A startup developing an innovative Electric Vehicle charger that focuses on reducing the charging time of the vehicle, thereby increasing the travel range of these vehicles.
Loans4SME – An alternative lending platform that connects energy businesses with debt providers.
HoneyComb Inventions – A startup that aims at enhancing the duration of power back up supplies of healthcare facilities.
Kumudini Enterprises – A startup completely run by women, providing energy services and devices in rural communities, with a special focus on Particularly Vulnerable Tribal Groups (PVTGs).
Upcycler’s Lab – A startup that makes sustainability-based learning tools for children above the age of five. They aim to create awareness and educate children on the need for sustainability in accordance with UN SDG 12 – Responsible Consumption and Production.
Taru Naturals – A network that connects farmer communities with clean technology and renewable energy.
POWERED Accelerator recently showcased their first cohort of women-led start-ups and their innovative technology solutions to an audience of investors, corporates, multilaterals, government representatives, and CSR heads at the India Habitat Centre, New Delhi on September 6th, 2018. The cohort includes a diverse set of 10 start-ups, with technology applications addressing issues across mobility, energy access, energy finance, sustainability awareness, healthcare, and food security.
The objective of the programme is to support selected ventures expand their innovative and consumer-responsive services, products and financing by taking them through an accelerator programme that includes validation, peer network, mentorship, industry connects, and access to investors. HDFC Bank, Microsoft Corporation and L&T Public Charitable Trust are partners for the programme and supporting the cohort by providing infrastructure and mentoring support and exploring suitable synergies with them.
