Shell Energy meet: K’taka govt announces Rs 50 lakh grant for startups with social focus
The Government of Karnataka has committed a grant of Rs 50 lakh for start-ups with a strong social bent and working in rural development in the state. This was announced by Priyank Kharge, Minister for Social Welfare, at the first Shell Energy Entrepreneurship Conference 2018, held in Bengaluru on Monday.
Kharge who was the chief guest at the event and champions the thriving Bengaluru start-up ecosystem, spoke about Karnataka government’s vision and commitment towards fostering the start-up ecosystem in India. In his keynote address, the minister said, “I would like to take this opportunity to announce that, to encourage more social innovations, any innovation that will be focused on rural development and well-being with a strong social impact, the Department of Social Welfare, Government of Karnataka, will be willing to support start-ups across the state with a grant of Rs. 50 lakh.”
The conference organised by Shell E4, the company’s start-up hub featured a unique gathering of energy focused start-ups, venture capitalists, energy experts and academia. The day also served as the graduation event for Shell E4’s first cohort of energy and sustainability start-ups. Launched in 2017, Shell E4 Start-up Hub aims to foster a vibrant ecosystem of energy entrepreneurs by bringing together talent, technology, capital and know-how to accelerate India’s transition towards a sustainable energy future.
Earlier this year, Shell selected five start-ups– Detect Technologies, ION Energy, IoTrek, Trashcon and Ossus Biorenewables– that are working on a diverse range of solutions, including real-time pipeline monitoring, creating safer and smarter infrastructure and outdoor work sites, automating segregation of municipal solid waste, recovering green chemicals from waste water and building energy storage systems and infrastructure for electric vehicles. These start-ups are successfully integrating technologies like IoT and Artificial intelligence within their core products.
Speaking on the occasion, Nitin Prasad, Chairman, Shell Companies in India, said, “Shell is committed to be a trusted partner in India’s growth story through its people, partnerships and innovations. Shell E4 furthers our commitment to nurture the innovation and entrepreneurial ecosystem in the country. We will continue to evolve Shell E4 to foster solutions that can help India access cleaner energy and drive sustainable growth. We wish each of the graduating start-ups the very best in their journey towards a sustainable future. We shall continue to liaison with them through Shell’s alumni network to help them further develop and deploy their technologies at a larger scale.”
The Demo Day also witnessed several panel discussions on Energy Entrepreneurship and Innovation, Future of transportation and mobility. In the discussion on Energy Entrepreneurship and Innovation, focus was primarily on the overall scenario of energy innovation in India with a focus on production and consumption of energy within the country. The speakers discussed the opportunity and challenges along with counterpoints and solutions for achieving sustainable energy security. Likewise, the discussion on investment in energy sector saw panelists talk about what investors are looking at in energy sector along with the possibilities of investment funds planning to invest in energy.
James Unterreiner, General Manager, Shell E4 Start-up Hub, said, “The strategic intent of Shell E4 is to accelerate India’s transition to a sustainable energy future by becoming a major actor in the entrepreneurial ecosystem by linking talent, technology, capital and know-how for energy entrepreneurs in the country. The E4 incubator invests in the most promising start-ups to develop early insights in critical innovations and to build alignment and commitment with companies that we like to partner with. I congratulate the first cohort of Shell E4 and wish them well in their journey."
Shell is one of the most diversified international oil companies in India's energy sector with over 7000 employees. It is a major supplier of crude products, chemicals and technology.