Last date to apply: 31st December 2023
SIDBI is organizing a 12 Month of Accelerator Program (on hybrid mode) in association with FITT IIT Delhi and RENEW under its Cluster Intervention program. The program intends to foster 25 Green tech startups to deliver innovative and impactful solutions to solve real world sustainability challenges, scale up their revenues and accelerate their valuation.
- Strengthening of ~25 green tech startups by scaling-up their businesses.
- Equity- based funding opportunities for selected startups from Investor groups amount to(INR 1.25 Crores).
- Funding support to 6 startups by Renew with a total amount of 30 lakhs, with an average ticket size of around 5 Lakh per Startup.
- Enhance Corporate Investment and accelerate the growth of green tech startups with increase in networking opportunities.
- Build capacity of green tech startups by enhancing their business skills, exposure to the industry knowledge and enhance their business performance.
Foundation for Innovation and Technology Transfer (Implementing partner)
FITT, IIT Delhi has been the vanguard of knowledge transfer activities from academia since its inception in 1992. FITT provides superior program management services and is steadily increasing its operational landscape. The varied roles of FITT can be seen in enabling innovations and technopreneur ship, business partnerships, technology development, consultancy, collaborative R&D, technology commercialization, development programs, corporate memberships, etc. DSIR has recognized FITT as a Scientific and Industrial Research Organization (SIRO). As a SIRO, FITT is eligible for full custom duty exemption for the import of capital goods, raw materials, and technology know-how that are required for the execution of the Programme sponsored by the industry.
Renew Power (Corporate Partner)
ReNew Power, established in 2011, is one of India’s leading renewable energy companies in terms of total energy generation capacity. Since commencing operations with a 25.2 MW wind project in Jasdan, Gujarat, the company has grown exponentially and has a current renewable asset base of over 13 GW, including projects under development and in the pipeline. In October 2019, ReNew Power became the 1st RE company in India (and 10th globally) to cross 5 GW of installed capacity. In 10 years of its operation, ReNew projects have generated many jobs, directly and indirectly. In 2019-20 ReNew Power contributed nearly 1% of the total electricity generated in India and helped mitigate 0.5% of the carbon emitted in a year.
Selection/ Eligibility Criteria of Startups
- 10 startups from Delhi NCR region and 15 startups from other regions of India shall be shortlisted under the program.
- Shortlisted startups from Delhi NCR region, must attend the program on physical mode at FiTT IIT Delhi campus and startups from other regions of India can attend the program on virtual mode.
- Selection of the start-ups into the program will have some extra bias for those with the ready product Technology readiness (Level 6 and above) so that they can be taken into the market and experiment with go-to-market strategy and attain quick growth.
- Startups shall be selected as per the levels mentioned below:
- Technology demonstrated in relevant environment
- System prototype demonstration in operational environment
- System complete and Qualified
- Actual system proven in operational Environment
- Tech-based startups (DPIIT Registered) can apply for the acceleration program. (Preference shall be given to tech-based start-ups working to develop solutions for the artisans/SMEs belonging to textile, handloom, and handicrafts sector)
- Startups of various stages including MVP/ Market Ready/ Revenue Stage/ Series Funding Stages can apply for the program
- For women-owned startups Promoter/ Founder/ Entrepreneur of the startup or proposed startup as a private limited company with more than 51% stakes with women.