POWERED Accelerator Selects 6 Women-led Start-ups for $10K seed funding each

POWERED accelerator,  focused on  the women-led start ups working in the energy value chain has announced the selection of 6 such start ups to award seed funding worth $10,000 each.

The announcement was made on the Demo Day where 10 women-led start-ups presented their products, USP and projections in front of diverse panelists. These presentations were made to an audience of investors, corporates, multilaterals, government representatives, and CSR heads at the India Habitat Centre, New Delhi on September 6th, 2018.

The panelists were:

• Anita Gupta, Scientist G, and Associate Head, Innovation and Entrepreneurship, DST, Govt. of India;
• Sam Parker, Global Director, Shell Foundation;
• Anna French, Deputy Head, DFID India, and Team Leader Urban, Energy and Green Growth Team;
• Suhela Khan, Program Coordinator, UN Women India;
• Vikas Bali, CEO, Intellecap;
• Shailesh Vikram Singh, Managing Partner, Massive Fund;
• Digvijay Singh, COO, Indian Angel Network;
• Jarnail Singh, India Director, The Climate Group;
• Sai Krishna, CEO, NSFI India;
• Pankaj Agarwal, Founding Angel, CIO Angel Network.

Each entrepreneur were given 7 minutes to present their respective products with presentations and then answered queries of the panelists and other investors.

The 10 start-ups of Cohort 1 came up with diverse products and services which solve problems across energy access, energy finance, sustainability awareness, healthcare, food security and mobility.

Here’s an overview of the six women-led startups selected for the seed fund by POWERED accelerator.

Cellerite Systems: Founded in 2017 by Srujana Raghupatruni and Shad Hasan, Cellerite Systems is developing an innovative electric vehicle charger that focuses on reducing the charging time of the vehicle, thereby increasing the travel range of these vehicles.

Loans4SME: Founded in 2016 by Simmi Sareen, Loan4SME is an alternative lending platform that connects energy businesses with debt providers.

HoneyComb Inventions: Founded by Mousumi Medhi, the start-up aims at enhancing the duration of power back-up supplies of healthcare facilities.

Kumudini Enterprises: Headed by Pushpalata Pani, Kumuduni Enterprises is operated by Odisha-based SG Foundation. The start-up aims to provide energy services and devices in rural communities, with a special focus on Particularly Vulnerable Tribal Groups (PVTGs).

Upcycler’s Lab: Founded in 2018 by Amishi Parasrampuria, Upcycler’s Lab makes sustainability-based learning tools for children above the age of 5. They aim to create awareness and educate children on the need for sustainability in accordance with UN SDG 12 – responsible consumption and production.

Taru Naturals: Founded in 2016, by Punam Jain and Ruchi Jain, Taru Naturals is an agritech platform connects farmer communities with clean technology and renewable energy.

Powered Accelerator is a joint initiative of UK based Shell foundation, UK government’s Department for International Development (DFID), and the Indian government’s Department for Science and Technology (DST). The accelerator is managed by Zone Startups India, an international startup accelerator.

The objective of the cohort is to support women-led ventures in expanding 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.

The Initiative is now accepting applications for its second accelerator cohort and for the one-week residential boot camp meant for idea stage solutions for early-stage emerging women entrepreneurs in energy space. The 1-week residential boot camp will help top six to eight solutions to problem statements floated by partners to help validate and enter the market.

Seed Fund up to INR 2 Lakhs is available for bootcamp participants and seed fund up to INR 7 lakhs available for accelerator participants.