DFID India, Shell Foundation and Zone Startups India announce POWERED
by Shrutee K/DNS
POWERED seeks to identify early stage companies, led by women entrepreneurs and leaders, innovating across technology and business models in the broader energy domain, which includes but not limited to Access to Energy, Sustainable Mobility and Waste to Value.
Mumbai, April 25, 2018: DFID India and Shell Foundation in
partnership with Zone Startups India announced the POWERED Entrepreneurship
program. This is a first of its kind program, globally, to nurture and support
women entrepreneurs building ventures in the energy value chain. The programme
invites applications from women entrepreneurs building innovative growth and
early-stage companies with disruptive technologies and business model
innovations.
The POWERED programme aims to
address today’s economic problems related to energy access, and tomorrow’s
opportunities by empowering women entrepreneurs thereby addressing several of
the 17 Sustainable Development Goals. The other partners to the program
include Department of Science and Technology (Government of India), Microsoft
and HDFC Bank.
“At Shell Foundation, we believe
integrating gender-inclusion strategies leads to better performing businesses.
Women entrepreneurs have limited access to blend of early-stage support and
capital they require to grow sustainably. This program is a unique opportunity
to create an enabling ecosystem to nurture and support women entrepreneurs
innovating in the energy value chain through products and business models,”
says Sam Parker, Director, Shell
Foundation
“The UK’s department for
international development has always put girls and women at the heart of all
its interventions. DFID's Strategic Vision for Girls and Women has
set out to achieve ambitious targets enhancing the economic empowerment of
girls and women in developing countries by helping 18 million women to access
financial services, and 4.5 million women to strengthen their property rights.
The key channels through which girls and women can become economically
empowerment include work (employment, enterprise and livelihoods), access to
financial services and other economic resources, vocational and technical
skills and training and social protection for the poorest
and most vulnerable. The wider environment is also critical, both in terms of a
formal institutions such as a conducive investment climate and informal
institutions such as supportive social and cultural norms,” says DFID India
spokesperson.
Uniquely set-up as a hybrid program
that comprises an accelerator program, a series of bootcamps, workshops,
industry engagements and a community of women entrepreneurs; POWERED seeks to
select up to 30 entrepreneurs in two cohorts. The program aims to work with a
wider set of entrepreneurs in the energy access space through bootcamps and a
community network, to reach a larger number of women entrepreneurs in the
energy access sector.
Zone Startups India will provide
end-to-end program management of POWERED.
Established in India in 2014, Zone
Startups has been at the forefront of startup and entrepreneurship programs in
India. Starting with a first program, Zone Startups India, in partnership with
BSE Institute and Department of Science and Technology, has gone onto establish
corporate accelerators and innovation programs with leading partners such as
Barclays, Axis Bank, Kerala Startup Mission, Lodha Group, Visa, EY India,
Viacom18, HDFC Bank and ICICI Lombard in a short span.
“This partnership with Shell
Foundation and DFID India is something unique and exciting for us,” says Ajay
Ramasubramaniam, Director (India), Zone Startups. “Shell Foundation is a global
leader enabling access to energy and economic growth. We have had good success
working with women entrepreneurs through our flagship initiative empoWer. Now,
with Shell Foundation bringing in their knowledge and deep-domain expertise in
the energy access domain, and we bringing in our ability to identify and
onboard strong women entrepreneurs, POWERED is a very compelling program for
women entrepreneurs building ventures in the energy access vertical. It is all
the more exciting for us, as through this initiative, we have broadened our
focus to work with tech and non-tech entrepreneurs,” he adds.
Modelled on the successful format
of empoWer, POWERED will comprise of a 6-week residential accelerator program
that will open-up industry connects for the cohort, in addition to mentorship,
professional services, access to investors, entrepreneurial connect and
networking opportunities.
Additionally, some of the selected
startups will also be eligible to get a $10,000 grant funding from the program,
which will allow them to cover costs during the accelerator phase; as well as
incur operating expenses. Post accelerator phase, the selected entrepreneurs
will be eligible for Shell Foundation’s investment committee to evaluate the
metrics for possible grant investments. All startups accepted into the program,
automatically get to access Zone Startups network of accelerators, resources
and partnerships.
Shell Foundation and Zone Startups
India will be conducting roadshows in Mumbai, Bangalore, Ahmedabad, Chennai,
Shillong, Dehradun and Delhi to talk about the benefits of the program, and
engage local entrepreneurs with the leadership team at Shell Foundation. The
program will accept applications until 18th June 2018, with the launch of the
cohort in July 2018.
I found your blog very interesting and informative. Thanks for sharing.
ReplyDeleteShe in Business