Shell India is introducing a fresh initiative within its start-up accelerator program, Shell E4, called the Net Zero Challenge. As part of the initiative, Shell India will choose two start-ups to receive funding of $15,000 each, a top company executive told businessline.
The program consists of two phases: “During the initial three months, start-ups will undergo intensive mentorship in boot camps, while the subsequent phase will provide the opportunity for the five selected start-ups to secure MVP funding, which will span an additional 3-4 months,” explained Debasis Goswami, General Manager of Shell E4 Startup Hub.
The program focuses on specific themes including clean tech, AI ML for net zero emission, waste management, plastic circularity, sustainability, EV charging, battery swapping and new battery chemistry — covering the entire gamut of energy solutions from biofuels, hydrofoils, and digital standpoints.
Elaborating on the objective of introducing the new programme, he said it is to bring the next generation of energy entrepreneurs into the country, the company added. Additionally, as part of the program, “We will help the participants leverage Shell’s subject matter expertise and access to some of the premium institutions in the country with whom we have ties.”
Shell E4 Startup, which started in 2017, has successfully concluded six cohorts and is preparing to introduce the seventh cohort in August.
Over the last six years, the hub has worked with more than 40 early-stage startups. “We focus on the pre-series A stage primarily because we feel that at that stage, they need the maximum support in terms of validating the technology and providing them with piloting opportunities.”
“Our approach involves careful selection of startups with whom we engage, aiming to maximise the benefits they receive from our program. As a result, each cohort typically consists of approximately eight to ten start-ups on average.”
Furthermore, among the 40 start-ups involved, a significant majority has demonstrated remarkable growth, scaled their operations, and secured substantial Series A and Series B funding, he added.