INFUSE Ventures launches cleantech incubation program
Indian Fund for Sustainable Energy Ventures (INFUSE Ventures), an early-stage fund focused on sustainable energy and cleantech, has launched a program in the Indian Institute of Management Ahmedabad to foster start-ups that require seed capital.
Selected applicants will gain access to seed equity investment of up to $50,000 at the beginning, and subsequent venture capital funding of up to $2 million, following re-evaluation at the end of the six-month accelerator program.
"There is no such an accelerator program in India which focuses on very early-stage cleantech startups," said Mohsin Bin Latheef, manager of cleantech ecosystem development, Centre for Innovation Incubation and Entrepreneurship (CIIE), which manages INFUSE funds.
INFUSE will look for young start-ups that but have made progress in terms of prototype development or market validation. Enterprises that have not already raised significant institutional money but keen on raising a seed or Series A round are welcome.
Applications will closed on August 31. Successful applicants will be announced on November 3.
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