Selected startups to receive INR 80 lakhs with a follow-on provisioning of INR 8 crore, along with mentorship by Israel’s climate tech leaders.
New Delhi, 27th September 2023 - Building on the success of its inaugural Green Mobility cohort, SanchiConnect, a community focused on deep-tech startups, investors, and corporations, announced the second iteration of its PreSeed Accelerator program, named "Ecosphere". The initiative is tailored for startups at the forefront of Climate Tech and Sustainability. In its first cohort, SanchiConnect focused on Green Mobility, where six PoC-stage startups were each infused with INR 75 lakhs. These startups are undergoing a 100-day mentorship program, complemented by market access initiatives. With Ecosphere, SanchiConnect is elevating its commitment by earmarking funds ranging from INR 80 lakhs to INR 1.2 crore each for the 6–8 startups that will be handpicked for this cohort.
The application process for Ecosphere is open to entrepreneurs aiming to tackle climate and sustainability challenges. The application deadline is October 8, 2023, and all applicants will receive a response by October 21, 2023, regardless of their selection status. The selection process involves multiple rounds of evaluation for screened applicants, ultimately leading to an in-person interview and thorough due diligence. During the acceleration phase, the chosen eight companies will receive funding right from Day 0. They will embark on a transformative 100-day journey that includes a blend of mentorship sessions, both in-person and virtual, along with invaluable Go-To-Market support.
India has rapidly risen to prominence in the Climate Tech arena, ranking 9th globally in Climate Tech Investments. The sector has witnessed a meteoric rise, with investments surging from $7 billion in 2021 to a staggering $22.5 billion in 2022. The leading sectors in this remarkable journey include Energy (40%), Electric Vehicles (30%), Hydrogen and Biofuels (20%), all aligning with the COP26 pledge of achieving net-zero emissions by 2070. As India gears up for double-digit growth and a 25% rise in consumer adoption, it is clearly steering the nation towards a greener and more sustainable future.
Ecosphere's focus is expansive, encompassing a wide array of sectors within Climate Tech and Sustainability. This includes, but is not limited to, Energy and Electrification, Carbon Capture and Storage, Supply Chain Traceability, Water Conservation, Waste Management, Circular Economy, Alternate Fuels, and Climate Finance.
Addison Appu, VP of Investments, ThinKuvate, believes “Climate and sustainability goals are no longer a mere target but a "necessity" for long term survival". Climate-tech will require funding across various segments. Partnering with SanchiConnect, via the Ecosphere program will play a pivotal role to identify, accelerate the development and adoption of solutions that can make a real impact ”
Rajnish Kapur, Managing Partner, Indian Angels Network “In today's rapidly evolving climate tech landscape, it's crucial to invest in solutions that have a lasting impact. Our involvement with SanchiConnect in this Ecosphere accelerator is more than financial; it's a commitment to nurturing an ecosystem that prioritises sustainability. We're not just backing startups; we're investing in the future of our planet.”
Shoeb Ali, Managing Partner, Transition VC, “We believe that fundamental changes in technology are happening as we speak—energy, mobility, semiconductors, etc.—which will give rise to opportunities for startups to innovate in the domain. Being India’s 1st New Energy focused fund, we are excited to partner with SanchiConnect for this accelerator, together, as a decarbonization-focused fund and a climate-focused accelerator, we're not just investing in innovation; we're investing in the transformation of our planet for generations to come.”
However, Ecosphere is more than just a funding initiative. It's a comprehensive ecosystem that promises startups unparalleled market access, mentorship from luminaries in the Israel climate tech sphere, and significant industry visibility. Esteemed institutional investors associated with Ecosphere include Thinkuvate, Transition Venture Fund, Indian Angels Network, and Climate9ers. In addition, the current cohort is also planning to bring in super angels who will have access to invest alongside the program.
Commenting on the launch of their new accelerator program, Dr.Sunil Shekhawat, CEO of SanchiConnect, said, “We are fervent believers in the transformative potential of innovation within India's burgeoning Climate Tech ecosystem. Our mission is to cultivate and empower visionary entrepreneurs dedicated to advancing climate solutions and working towards a more sustainable future.”
For startups poised to make a difference in the climate tech arena, Ecosphere presents a golden opportunity. Applications are now open on the SanchiConnect website as well as the GOI’s Manthan platform. The last date for startup applications is October 8, 2023.