IIM Udaipur Incubation Centre launches first-ever Startup Cohort towards Climate Change; invites eligible startups

Last date to apply – February 10^th 2022

Editor’s Synopsis:

• IIM Udaipur launches Climate Change Innovation Grant for eligible startups driven towards Climate Change
• Grants up to INR 4 Lakhs for prototype validation and INR 7 Lakhs for product development respectively to be given
• Last date of application – February 10^th, 2022

January 17^th, 2022; Mumbai: The Indian Institute of Management Udaipur announced Climate Change Innovation Grant for eligible startups in association with Meity Startup Hub, Meity, Gov. of India, and corporate partner Transworld Group. The grant focuses on supporting early-stage climate tech ventures whose products or services are explicitly focused on reducing GHG emissions or addressing the impacts of global warming.

The participating startups will receive the opportunity to brainstorm and validate solutions with corporate partner Transworld Group, get tailored training and support, learn and share in a community of like-minded founders in a collaborative environment, incubation, and co-working space at IIM Udaipur Incubation Centre, and also an opportunity to pitch for follow-on funding under other programs of the incubation centre.

Mr. Kannan Soundararajan, CEO, Incubation Centre, IIM Udaipur said, “We want to provide you and your startup with state-of-the-art mentoring and online training, as well as access to financial support and networking opportunities. The bottom line is success, both for you and your start-up and for the environment with tangible climate solutions.”

“We are looking for people who are motivated and passionate about fighting climate change. If you have an innovative idea, this is your chance to put it into fruition. If you’re an existing start-up and in need of financial aid and/or guidance on growing your business, this is the programme for you. INR 4 Lakhs will be offered for Prototype validation and development grant to up to 2 Entrepreneurs-in-Residence and INR 7 Lakhs will be bestowed for Product development and pilot run to up to 2 startups, he further added.

The cohort is designed to focus on key areas namely, Clean Energy, Mobility and Transport, Agriculture & Food Systems, Ports & Shipping, Green Buildings & Cities and Circular Economy. Each focus area will target ill-effects of the above challenges and will deep-dive into solutions and innovations aimed at these challenges.

Eligibility

• Startups with a minimum of two members or two people focused on a new technology or service with high potential for commercial viability and climate impact.
• Your solution can address any of the problem statements mentioned for this Climate Change Innovation grant.
• Core value proposition can be based on digital as well as non-digital solutions.
• Your solution is at either of these stages: proof of concept/prototype development/a tested prototype/MVP created, and a roadmap designed.
• Your ultimate solution, once developed, has the potential to be quickly commercialized and scaled.
• Preference would be given to innovative ideas for which patent has already been filed or can be filed in the future.

Important Dates

• Application Starts – January 10^th, 2022
• Last date of application – February 10^th, 2022
• Application Evaluation – February 14^th– 25^th, 2022
• Startup Idea Presentation – March 1^st, 2022
• Announcement of Selected Start-up Ideas – March 7^th, 2022
• Start-up Incubation and Onboarding – March 10^th, 2022

For more information, please visit: https://iimuic.org/tide-2.0-climate-change-innovation-grant

About IIM Udaipur: –

IIM Udaipur is well on its way to becoming a globally recognized B-School. It has broken new ground by focusing on world-class research and transforming students into tomorrow’s managers and leaders. The Institute arrived on the global education stage by securing accreditation from the AACSB (Association to Advance Collegiate Schools of Business) in merely eight years of its establishment. With this accreditation, IIM Udaipur is counted in the same league of global institutes such as Harvard Business School, Wharton School at the University of Pennsylvania, and the MIT Sloan School. IIMU has been listed on the Financial Times (FT) Global MIM Ranking 2020 as well as the QS Global MIM Ranking 2020, only the 4th IIM, along with IIMs Ahmedabad, Calcutta, and Bangalore, to be in the FT Global MIM Ranking and only the 7th IIM in the QS 2021 Global MIM Rankings. In both Rankings, IIM Udaipur is the youngest B-School in the world! IIMU is also currently ranked 4th in India, after ISB, IIM Ahmd and IIM Bgl, for research in management according to the methodology used by UT Dallas, which tracks publications in the leading global journals.