IIM Bangalore's NSRCEL and Alstom launch the second cohort of the Sustainability Incubation Programme
The press release stated that 22 ventures were selected from a pool of 344 applications and these ventures will proceed to a pre-incubation program.
With an aim to support startups that are committed to fighting climate change and addressing sustainability challenges, Alstom and NSRCEL, the startup hub at IIM Bangalore, announced the launch of the second cohort of their Sustainability Incubation Program.
According to a press release by Alstom, the program is designed in a way to assist such startups in their early revenue stages and will focus on innovations in various areas like green manufacturing, mobility infrastructure, energy and renewable energy, climate technology, alternative fuels, and vehicle technology.
“As one of the leaders in sustainable mobility, the NSRCEL Sustainability Incubation program is core to Alstom’s impact investments in the country. Following the success of the first cohort, we are excited to expand the scope of the program to include sustainability more holistically. The second cohort is aimed at positively impacting India’s climate challenges, and we look forward to seeing the solutions achieve their full potential," said Olivier LOISON, Managing Director at Alstom India.
The press release stated that 22 ventures were selected from a pool of 344 applications and these ventures will proceed to a pre-incubation program, which will reinforce their foundational business fundamentals and provide mentorship based on their specific needs.
After this, they will enter a six-month incubation phase, during which they will develop prototypes of their projects and refine their pitches presented to the screening committee. For this purpose, a funding grant pool of INR 1.5 crores has been allocated to support startups, informed Alstom.