Alstom, renowned for its commitment to smart and sustainable mobility, in conjunction with NSRCEL at IIM Bangalore, proudly announces the inception of the second cohort of their esteemed Sustainability Incubation Program. This program is specifically tailored to aid startups that are at the forefront of tackling climate change and sustainability challenges.
Focusing on nurturing sustainable technologies and fostering their market integration, the program is an ideal platform for startups specializing in green manufacturing, renewable energy, climate technology, alternative fuels, and advanced vehicle technology. The initiative aims to help these companies achieve scalability and market viability while emphasizing climate-centric solutions.
Olivier LOISON, Alstom India’s Managing Director, expressed enthusiasm for the program’s expansion, emphasizing its role in addressing India’s climate issues. Anand Sri Ganesh, CEO of NSRCEL, echoed this sentiment, highlighting the partnership’s dedication to climate tech innovation and its role in cultivating a sustainable future.
The selection process was rigorous, with 22 startups chosen from 344 applicants, evaluated for the potential impact and viability of their ideas. These startups will first engage in a foundational pre-incubation phase, receiving targeted mentorship and business guidance. This will be followed by a six-month incubation period for prototype development and refinement of business pitches.
The program is rich in resources and opportunities, offering workshops, mentorship, and vital ecosystem connections. Each startup will receive tailored support to navigate the industry ecosystem, understand relevant policies, and adhere to regulatory standards. A notable funding pool of Rs. 1.5 crores is allocated to assist startups with the highest potential for meaningful impact.
Reflecting on the success of the program’s first cohort, NSRCEL nurtured ten ventures from 20 startups, achieving impressive monthly revenues and attracting significant venture capital funding. The program has also garnered attention from industry giants, further validating its significant impact in the sustainability sector.