YES Bank has launched a dedicated accelerator program called YES SCALE, an effort to source clean energy. Out of 1000 applications, 14 startups ranging across Agritech and Cleantech have been selected for the 15-month long program. The startup that will successfully complete YES SCALE will be entitled to $1 million funding.
Startups associated with the field of agritech have received impetus in terms of funding from venture capitalists. Technological advancements in agritech sector have picked up pace with emphasis on use of artificial intelligence, robotics, and block chain. On that note, YES Bank claimed that it has been successful identified models and corresponding technologies that can accelerate the small term and enhance the long term benefits.
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Traditional sources like coal are in dire need of replacement considering their near non-renewable nature. Considering this, startups putting efforts in the direction of solar energy and improved used of renewable resources are more likely to receive support from venture capitalists.
Setting an example for other, YES Bank claims to be currently working on a water cleaning projects that targets 800 railways stations. These stations will receive lean water for consumption without using electricity to achieve the same. This is not possible to execute while using conventional methods of water purification.
Companies Schneider Electric, BigBasket, ITC and First Solar have agreed to support the accelerator program apart from the 15 venture capitalists providing the million dollar funding. With that, here is the list of the 14 startups selected in YES SCALE:
Cleantech includes Synapptra, Fliprobotics, DataGlen, Revy Environment Solutions, and The Solar Labs.
Agritech includes Lean Agri, FFEM, Krimanshi, Jivabhumi, Pixuate, RAAV Tech Labs, FarmstoFork Solutions (Cultyvate), and Bharat Rohan Airborne System.
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