SUMMARY
Vedanta Spark is a global corporate innovation, accelerator & ventures program aimed at providing over 100 projects opportunities worth up to $5 Mn
The programme aims at supporting the startups offering businesses with the solutions to challenges around sustainability
The previous two editions of the Vedanta Spark fostered over 80 startups for 120+ opportunities worth approximately $3.5 Mn
Mining giant Vedanta will collaborate with over 100 startups to explore sustainable technologies as part of the third edition of Vedanta Spark.
Vedanta Spark is a global corporate innovation, accelerator & venture programme aimed at providing over 100 projects with opportunities worth up to $5 Mn in sustainable and transformative technologies.
It focusses on three key areas to drive innovation i.e. enhancing business efficiency, digital transformations, and achieving Net Zero sustainability goals.
With support from Vedanta, the startups will have access to high-end infrastructure, resources, and insights from Vedanta’s in-house experts. This will help the engaged startups refine their products, scale their operations, and achieve sustainable growth.
Priya Agarwal Hebbar, non-executive director, Vedanta Limited, said, “Through this initiative, we also aim to inculcate a startup culture by enabling the businesses to collaborate with some of the brightest minds in the nation as well as usher in the next generation of industry leaders. This year we hope to increase focus on ESG transformation through innovative solutions and are also looking to engage with and support more women-led startups.”
The previous two editions of the Vedanta Spark fostered over 80 startups for 120+ opportunities worth approximately $3.5 Mn. The latest edition is all set to focus on the growth of engaged startups.
“Spark 3.0 intends to bring forth more than 100 initiatives with opportunities up to $5 Mn this year by partnering with innovative startups and utilising their cutting-edge technologies. This collaboration serves as a powerful catalyst for Vedanta’s mission of creating large-scale impact by harnessing open innovation and technologies,” said Arun Misra, CEO – Zinc Sector, ED – Vedanta Limited.
For the programme, Vedanta has collaborated with MeitY and NASSCOM’s Center of Excellence (CoE).
Climate and sustainability-focused tech innovations have become a centre of focus for several corporates and Indian venture capital funds. Earlier in June, Avaana Capital also secured a $70 Mn for its first close in Avaana Climate and Sustainability Fund, with a targeted corpus of $100 Mn – $125 Mn to back startups in the energy transition and resource management, mobility and supply chains, sustainable agriculture and food systems.
Also, another venture fund, Omnivore, announced the first close of its fund Omnivore Agritech & Climate Sustainability Fund – at $150 Mn to back the startups developing breakthrough technologies for agriculture, food, climate, and the rural economy.
