Accelerator is a part of YES BANK’s multi-sector accelerator program - YES SCALE (focused on Smart City Tech, CleanTech, AgriTech, Lifesciences Tech & EduTech)
Cleantech Accelerator being launched in association with Ministry of New and Renewable Energy (MNRE) and key industry partners
Accelerator to scale startups on energy efficiency, waste management & water management and take them to market in just 15 weeks. The program will provide pilot grant of INR 20 lakhs, in addition to mentorship and technology startup
Demo presentations by finalists of Renewable Energy Startup Awards – institutionalized by MNRE & supported by YES BANK & IIMA-CIIE
Unveiling of Knowledge Reports on Electric Vehicles & Renewable Energy landscape
Delhi, July 9, 2018: YES BANK, India’s fourth largest private sector 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 INR 20 lakhs 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 & Renewable Energy. The event also witnessed Demo Presentations by finalists of Renewable Energy Startup Awards – institutionalized by MNRE & 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 & network intelligence capabilities, IoT & blockchain based solutions, water management & operational intelligence for wind turbines & solar plants.
On the occasion, YES BANK, together with YES Global Institute unveiled 2 knowledge publications titled ‘Electric Vehicles: The Colour is Green’ and Renewable Energy: India’s Energy Game Changer’. The former highlights a roadmap for 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 roadmap 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 like 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, Ministry of New & Renewable Energy said, “Renewable Energy has been recognized as the most important weapon for clean environment. While setting the target to generate 175 GW by 2022, Govt. 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 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.
Startups can register at www.yesscale.in
About YES BANK
YES BANK is a ‘Full Service Commercial Bank’ providing a complete range of products, services and technology driven digital offerings, catering to Retail, MSME as well as corporate clients.
YES BANK operates its Investment banking, Merchant banking & Brokerage businesses through YES SECURITIES and its Mutual Fund business through YES Asset Management (India) Limited, both wholly owned subsidiaries of the Bank. Headquartered in Mumbai, it has a pan-India presence across all 28 states and 8 Union Territories in India including an IBU at GIFT City, and a Representative Office in Abu Dhabi.
For more information, please visit the Bank’s website at http://www.yesbank.in/
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