IIM Udaipur launches start-up grants for climate change mitigation ideas

NEW DELHI: The Indian Institute of Management (IIM) Udaipur has announced a climate change innovation grant in association with the ministry of electronics and information technology (Meity), and Transworld Group, with up to Rs 4 lakh for prototype validation and Rs 7 lakh for product development. The last date to apply for the grant is February 10.

“The startup idea presentation will be held on March 1, 2022. The list of the selected startup ideas will be released by March 7. Startup incubation and onboarding will begin by March 10,” said a statement from IIM Udaipur.

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The IIM Udaipur launched this grant to support climate tech startups that focus on reducing greenhouse gases emissions and solving issues related to global warming . Eligible start-ups will be able to discuss and validate solutions with Transworld Group and get training, support, and access to the incubation, and co-working space at IIM Udaipur Incubation Centre.

“We wish to support startups with mentoring, training, financial support and networking opportunities”, said Kannan Soundararajan, CEO of IIM Udaipur incubation centre.

“IIM Udaipur, through this initiative is focusing on clean energy, agriculture and food systems, ports and shipping, mobility and transport, green buildings and cities and circular economy. The initiative will work towards finding out effective solutions to the issues and challenges of these sectors,” said a statement from IIMU

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IIM Udaipur grant eligibility

Start-ups must meet the following requirements to be eligible for the grant:

• Start-ups with a minimum of two members working on a new technology with potential for commercialisation and has a positive impact on climate change are eligible.

• If the technology solution suggested can solve any problems mentioned in the climate change innovation grant, it would be eligible for selection.

• The solutions at differentiated stages of development are eligible to be selected.

• Ideas with patent registration or the potential to get patented will be given preference.