SanchiConnect Introduces "Ecosphere" Pre-Seed Accelerator Program for Climate Tech Startups
By siliconindia | Wednesday, 27 September 2023, 12:17 IST
SanchiConnect, a community dedicated to deep-tech startups, investors, and corporations, has unveiled its second PreSeed Accelerator program, “Ecosphere.” This initiative is tailored to support startups at the forefront of Climate Tech and Sustainability. Following the success of its inaugural Green Mobility cohort, where six Proof of Concept (PoC) stage startup received INR 75 lakhs each, SanchiConnect is expanding its commitment. For Ecosphere, the organization has earmarked funds ranging from INR 80 lakhs to INR 1.2 crores for the 6-8 startups that will be selected for this cohort.
The application process for Ecosphere is open to entrepreneurs working on climate and sustainability challenges, with a deadline of October 2023. Regardless of their selection status, all applicants will receive a response by October 2023. The selection process involves multiple rounds of evaluation, including an in-person interview and thorough due diligence for shortlisted candidates. The selected companies will receive funding from day one and participate in a 100-day journey that includes mentorship sessions, both in-person and virtual, as well as essential Go-To-Market support.
India has made significant strides in the ClimateTech sector, ranking 9th globally in Climate Tech Investments. Investments in this sector surged from $7 billion in 2021 to a remarkable $22.5 billion in 2022. The leading sectors in this growth include Energy (40%), Electric Vehicles (30%), Hydrogen, and biofuels (20%), all aligning with the COP26 pledge to achieve net-zero emissions by 2070.
Ecosphere’s focus encompasses various sectors within Climate Tech and Sustainability, including Energy and Electrification, Carbon Capture and Storage, Supply Chain Traceability, Water Conservation, Waste Management, Circular Economy, Alternate Fuels, and Climate Finance.
The investment sector, such as Addison Appu, VP of Investments at ThinKuvate, Rajnish Kapur, Managing Partner at Indian Angels Network, and Shoeb Ali, Managing Partner at Transition VC, express their belief in the critical role of ClimateTech in ensuring long-term survival and sustainability. Ecosphere is more than just a funding initiative; it offers startups unmatched market access, mentorship from climate tech experts, and substantial industry visibility. Esteemed institutional investors associated with Ecosphere include Thinkuvate, Transition Venture Fund, Indian Angels Network, and Climate9ers.
Dr. Sunil Shekhawat, CEO of SanchiConnect, stated, “Our mission is to cultivate and empower visionary entrepreneurs dedicated to advancing climate solutions and working towards a more sustainable future.” For startups aiming to make an impact in the climate tech sector, Ecosphere represents a golden opportunity. Applications are now open on the SanchiConnect website and the GOI’s Manthan platform.
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