The OmniActive Improving Lives Foundation has announced the launch of the Climate Tech & Sustainability Acceleration Program. This initiative, funded by OmniActive Health Technologies and developed in collaboration with Bioriidl – India’s First DIY Biolab & Bioincubator, riidl Somaiya Vidyavihar (Research Innovation Incubation Design Laboratory Foundation), aims to foster innovation in various sectors. The program is now open for applications from prototype-ready startups across Clean Energy, Horticulture, Materials, Food & Agriculture, Circular Economy, Supply Chain, and Nutraceuticals domains. Selected startups will have access to paid pilot opportunities and funding of up to INR 20 Lakhs.
Challenges and Opportunities in India’s Agriculture Industry
As of 2022, India’s agriculture industry is valued at over INR 80,000 Billion. While the sector plays a crucial role in the economy, AgriTech startups face challenges in modernizing this traditionally rooted domain. Enhancing productivity and sustainability amidst fragmented supply chains, limited technology adoption, and the imperative for climate-resilient solutions are pressing concerns. Startups are positioned as key drivers of innovation to propel the sector forward, aiming to improve efficiency and foster socio-economic impact.
Program Objectives and Focus
The Climate Tech & Sustainability Acceleration Program aims to address these challenges by providing support to prototype-ready startups. The program offers a platform for startups to tackle 11 identified key problem statements within the agricultural sector. These problem statements span a wide range of areas, from revolutionizing Flower Harvest mechanisms to pioneering Sustainable Packaging solutions. Through this initiative, startups have the opportunity to make significant contributions to climate tech and sustainability while driving positive change in the agriculture industry.
Key Highlights of the Program
- Financial Support: Startups stand a chance to receive financial support of up to INR 20 Lakhs, empowering them to amplify their impact in the Sustainability domain.
- Paid Pilot Opportunities: Selected startups will have the opportunity to engage in paid pilots leveraging industry expertise and resources for real-world applications.
- Partner Credits: Gain access to partner credits valued at INR 95 lakhs+, facilitating strategic collaborations and accelerated growth.
- Marketing & GTM Support: Participants will benefit from curated workshops, labs, market support, mentorship, grants & funds, investor connections and a host of resources designed to accelerate their journey.
Ms. Bhavna Pandya, Head, Bioriidl & Innovation Catalyst, riidl Somaiya Vidyavihar said, “In order to reimagine farming, we are fostering innovation that not only addresses real-world challenges but also drives positive social impact for the environment & society at large. We are encouraging startups to build cutting-edge solutions with our world class infrastructure & agri ecosystem, leading us one step closer towards a sustainable future.”
Mr. Sanjaya Mariwala, CEO, OmniActive Health Technologies stated, “At OmniActive, we are helping bridge the gap and take the incredible work the startups are doing to the farms through our one of a kind paid pilot options. We are aligning with the self-reliance vision of Atma Nirbhar Bharat and what better way to do this than by supporting the ideas from India’s startup ecosystem with partners like riidl Somaiya Vidyavihar.”
To this, Mr. Rushva Parihar, Head, Improving Lives Foundation added, “It is very exciting to be able to bring together the vision of OmniActive Health Technologies and Bioriidl, riidl Somaiya Vidyavihar and support innovation that drives a positive change in rural communities. All the innovations we support through this acceleration program will be piloted in underserved communities and make a difference in the way we imagine agriculture and sustainability.”
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