POWERED Accelerator, a first-of-its-kind programme, supporting women entrepreneurs in the energy sector, has announced seed funding of ₹7 lakh each to six startups selected from the ten startups in its first cohort.
The accelerator is a joint initiative launched in partnership with Shell Foundation, DFID India (Government of UK), Department of Science & Technology (Government of India), along with Zone Startups India.
The objective of this programme is to help selected ventures expand their innovative and consumer-responsive services, products and financing by taking them through an accelerator programme that includes validation, peer network, mentorship, industry connects, and access to investors.
HDFC Bank, Microsoft Corporation, and L&T Public Charitable Trust are partners for the programme and are supporting the cohort by providing infrastructure and mentoring support and exploring suitable synergies with them.
Jan Thompson, the British Deputy High Commissioner, in her keynote at the Demo Day, highlighted that the DFID believes that the provision of affordable, reliable modern energy products and services to women provides a huge opportunity to unlock the potential to improve the lives of their families for generations.
Here is a brief introduction of the six women-led startups, that will receive a seed funding of ₹7 lakh each:
Hyderabad-based charging solutions provider Cellerite Systems was founded by Srujana Raghupatruni and Shad Hasan in 2017. It develops innovative electric chargers focussed on reducing vehicle charging time. The startup further offers pre and post-sales technical support for the equipment and components.
Mumbai-based digital lending startup Loans4SME was founded by Simmi Sareen in 2016. It provides a technology platform to connect small businesses with lenders, to offer collateral-free debt financing.
Founded by Mousumi Medhi, HoneyComb Inventions aims at enhancing the duration of power back-up supplies of healthcare facilities.
Odisha-based Kumudini Enterprises was founded by Pushpalata Pani. It is an organisation run by women, that aims to provide energy services in rural communities, with a special focus on Particularly Vulnerable Tribal Groups (PVTGs).
Mumbai-based edtech startup Upcycler’s Lab was founded by Ashmi Parasrampuria. It provides a Do-It-Yourself (DIY) activity box for smart and curious kids aged 5 to 7, in order to foster learning through interactive activities.
Mumbai-based agritech startup Taru Naturals was founded by Punam Jain and Ruchi Jain in 2016. It provides a platform to connect farmer communities with clean technology and renewable energy solutions.
Powered Accelerator is now accepting applications for its second accelerator cohort, and the one-week residential boot camp that is meant for idea stage solutions.