Innovation is an essential ingredient of any knowledge based vibrant economy. Although in the last decade India has made significant strides in the infrastructure and services, it’s been lagging in innovation and converting ideas into products. With initiatives like Start-up India, Skill India and Make-in-India, Indian Government now plans to foster innovation and support entrepreneurs to execute their vision.
Electricity, New and Renewable Energy and Environmental Sustainability is an extremely important area in terms of social welfare of India citizens, energy security as well as overall of growth of Indian economy.
VJTI Atal Incubation Centre (VJTI AIC)
In this context, CES and VJTI have setup VJTI Atal Incubation Centre (VJTI AIC) in Mumbai to inculcate entrepreneurship specially focused on energy and sustainability.
Electricity, New and Renewable Energy and Environmental Sustainability:
Our focus is an extremely important area in terms of social welfare of India citizens, energy security as well as overall of growth of Indian economy. With its core philosophy as long term engagement with qualified startups in the identified focus area, VJTI AIC will offer to ensure business success of smart grid, micro grid and energy storage technologies driven enterprises. These three areas have been specifically chosen to ensure that the underserved and unserved areas are focused, and to bring about an inclusive growth.
Access to electricity has major socio-economic merit for development of rural communities. It is estimated that over 850 million of Indian population are inhabited in rural areas with 237 million of them not having access to electricity (IEA 2015). It is estimated that over and above such statistics, 100 million of the population in the country has no reliable access to power i.e. less than 6-8 hours of quality supply. VJTI AIC will support start-ups with innovative technologies that aim to provide high quality, reliable and affordable power supply to rural micro grids.
Smart grid involves gamut of technologies as well as operations right from implementing smart meters, modernizing substations, integrating new technologies like energy storage or electric vehicles (EVs) to create data analytics in internet of things (IoT) platform. Indian Government has planned for 100 smart cities which opens-up enormous opportunity for innovation and product development in the area of smart grids. VJTI AIC plans to support such innovative ideas and mentor their product development cycle to modernize Indian electricity grid.
Energy storage is the holy grail of modern electricity grid and distributed generation. The total energy storage market between 2015 and 2022 in India is estimated close to 70 GW and 200 GWh. Newer companies venturing into these technologies will definitely require a lot of support in terms of R&D, manufacturing integration, demonstration of product for various applications, standardization and certification and marketing of the products. VJTI AIC plans to support technology development of advanced energy storage technologies.
The following services will be provided to incubatees:
- Technology development assistance
- Entrepreneurial development
- Start-up Funnel by CES (Attract, Evaluate, Nurture and Graduate Ideas)
- Finance & Accounts
- Marketing Strategy
- Business plan and pitch pack preparation
- Promotional assistance
- Business networking
- Linking up with investors for funding for start-ups
- Objective of the Incubation Centre
- To inculcate entrepreneurship and creation of enterprises on knowledge based innovation specially focused on Electricity, New and Renewable Energy and Environmental sustainability
- To catalyze smart grid, micro grid and energy storage technologies driven enterprises
- To link potential incubate with knowledge strength, scientific guidance and resources of VJTI and CES, to provide them immense business, networking and commercial opportunities.
- Philosophy: Long term engagement with qualified startups. Offering: Ensuring business success is the core of our offering
- Cultivate entrepreneurship in VJTI, and in the community. Create businesses and jobs.