Cleantech to Scale up Startups in Energy Efficiency, Waste Management, and Water Management
On July 9, 2018, YES BANK launched YES SCALE: Cleantech Accelerator, as part of its multi-sector start-up accelerator YES SCALE (Smart City, Clean Tech, Agritech, Lifesciences Tech, Edu Tech). YES SCALE: Cleantech Accelerator will focus on scaling up startups working on energy efficiency, waste management, and water management—paving the way for a cleaner future.
YES SCALE platform will provide affiliated startups with access to technology, mentorship, funding, and commercialization. Affiliated startups will have access to funding of USD 1 mn through various investment partners and will be one of the few global programs to provide zero-equity grant of up to `20 lakh for pilot or proof of concept.
The Accelerator was launched at the YES BANK Annual Cleantech Conference 2018 by Shri Praveen Kumar, Additional Secretary, Ministry of New and Renewable Energy, Government of India. The event also witnessed Demo Presentations by finalists of Renewable Energy Startup Awards—institutionalized by the MNRE and supported by YES BANK & IIMA-CIIE. Final winners will be felicitated at MNRE event, later this year. The start-up pitches included innovative solutions on smart design, smart analytics and network intelligence capabilities, IoT and blockchain-based solutions, water management and operational intelligence for wind turbines and solar plants.
On the occasion, YES BANK, together with YES Global Institute unveiled two knowledge publications, titled ‘Electric Vehicles: The Colour is Green’ and ‘Renewable Energy: India’s Energy Game Changer’. The former highlights a road map for the successful transition to electric vehicles by establishing electric mobility infrastructure, fiscal incentives, robust market linkages, and a strong regulatory framework. The renewable energy report underscores the potential, current trends and road map to drive the next wave of growth in the sector.
Speaking on the occasion, Rana Kapoor, MD & CEO, YES BANK and Chairman, YES Global Institute said, “With YES SCALE, we will replicate this model across YES BANK’s focus sectors, such as Smart Cities, Agriculture, Clean Energy, Education and Healthcare, to build deep interventions jointly with our corporate clients. This is fully in line with the Bank’s vision since inception—which was to cater to the ‘sunrise sectors of India’s economy’ using knowledge banking to deliver impactful ecosystem solutions.”
Shri Praveen Kumar, Additional Secretary, MNRE, said, “Renewable Energy has been recognized as the most important weapon for clean environment. While setting the target to generate 175 GW by 2022, government took a leap of faith which has been responsible for the tremendous growth in the sector. India looks well on course towards achieving the target. If industry and academia come together, solar tariffs could come down even further.” The event witnessed participation from Mr Manoj Kohli, Executive Chairman, SB energy; Prof. V. Ramgopal Rao, Director, IIT-Delhi; Mr Rakesh Kumar, Programme Director & Sr Consultant, International Solar Alliance; and Mr Alipt Sharma, Principal, Global Environment Fund.