IIMA Ventures (formerly IIMA-CIIE) has announced its support for 14 startups from Indore in its first Cohort of the Indore Smart City Accelerator program. Supported by the Departments of Science and Technology, the Government of India, and the Smart City Indore, the program aims to coach startups in developing business models and proposals required to engage with public sector customers.<\/p>\n
The program received applications from 100 startup entities registered and based in India, with the goal of finding innovative solutions for the Indore Smart City in sectors related to Urban Mobility, Cleanliness, Citizen Safety & Security, and Air Quality. Additionally, it aimed to assist early-stage startups building for Urban Local Bodies (ULBs) in landing pilots to validate their solutions.<\/p>\n
In collaboration with Indore Smart City, the Indore Smart City Accelerator conducted a three-day intensive bootcamp in Indore.\u00a0<\/p>\n
These startups were trained in various sessions like business modelling, unit economics, B2G sales, applying for government tenders, and investment readiness by angel investors, and had access to one-on-one mentoring sessions and office hours with Subject Matter Experts. This was followed by virtual diagnostic panels and mentoring sessions.\u00a0<\/p>\n
From the cohort, 3 startups have been shortlisted for pilots by Indore Smart City:<\/p>\n
Aumsat Technologies : Founded by Mr. Riddhish Soni, Ex-ISRO, the team has developed a solution to detect leakages in water pipelines, pinpointing locations up to 10 feet underground using IoT-based solutions and satellite imagery. This innovation aims to reduce non-revenue water losses from an estimated 40% to 15%.<\/p>\n
Arc Robotics : The young team of dynamic engineers has developed a vehicle-mounted robot with six degrees of freedom to detect and clean sewage pipelines to eliminate manual scavenging in India.<\/p>\n
Pod Pitara : The team has tied up with the Indore administration to install IoT-enabled radios across public buses in the city as an experiment to help ULBs disseminate important city-related updates and awareness among the citizens of Indore.<\/p>\n
Further, one more startup, Electica, has been invested by IIMA Ventures through one of its regional ecosystem development programs. Electica has developed an automated battery-swapping solution specifically positioned towards creating a battery-swapping infrastructure in tier 2 and tier 3 cities.\u00a0<\/p>\n
Furthermore, 2 startups from the cohort will also be considered for grants up to INR 5 Lakh.<\/p>\n
IIMA Ventures has mentored over 7000 founders, accelerated over 1500 startups, provided catalytic capital to over 700 companies, and inspired over a million people with our 400+ publications. It has been a pioneer on multiple fronts including India\u2019s first accelerator \u2013 iAccelerator, India\u2019s largest idea scouting competition \u2013 The Power of Ideas, India\u2019s first climate fund \u2013 INFUSE Ventures, India\u2019s biggest platform for inclusive fintech \u2013 Bharat Inclusion Initiative, India\u2019s first entrepreneurship bestseller \u2013 Stay Hungry Stay Foolish, and many more.<\/p>\n","protected":false},"excerpt":{"rendered":"