SUMMARY
YES Bank has selected 14 startups working in agritech and clean energy
The YES bank programme aims to bring innovative solutions to last mile users
YES SCALE, has 5 distinct accelerators including smart city, life sciences tech and more
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Traditionally an agrarian economy, India has made rapid strides to become one of the world’s major technological and manufacturing powers. This journey has brought with it a set of unique challenges and opportunities.
With an unprecedented adoption of smartphones and rapid spread of internet connectivity, there is currently a massive potential for increasing agricultural efficiency and per-capita income of farmers with the use technology solutions like AI, blockchain and robotics.
Along with that, with as the use of clean and sustainable practices increases over the past few years, India’s renewable energy market needs further support in growth and adoption of alternative fuel sources.
Taking into account all these needs, YES Bank, India’s fourth largest private sector bank, launched its YES SCALE accelerator program for cleantech and agritech startups last month.
The launch marked the beginning of a 15-month programme where 14 startups, shortlisted from over 1,000 applicants, will work with companies such as Schneider Electric, BigBasket, ITC, First Solar and more.
Speaking at the event, Namita Vikas, group president and global head, Climate Strategy & Responsible Banking at YES Bank, underlined the need for impact investing in models that can be scaled across the country and will also make good business propositions.
“We have collaborated to work on a technology that purifies water 100%, without using electricity or creating waste and we have covered 800 railway stations where we are providing access to safe and clean drinking water. Five Crore people were touched last year and what we have seen is that for every one rupee we invest in this project we are creating a social value of about one cent (INR 6.85). So that’s a real impact for us,” Vikas said.
On the whole, 14 startups were selected by the bank with eight under the agritech category and five under cleantech.
Meet The Startups Selected For YES SCALE Cohort
Agritech
This is a blockchain powered technology platform which enables customers to buy chemical-free traceable farm produce directly from producers.
Startup Pixuate has intelligent process automation with artificial intelligence (AI) and cognitive learning. It is using AI-powered sensor backed inspection and sorting system for multiple fruits and vegetables.
The startup focuses on quality analysis of everyday consumables using a combination of biosensors and efficient data analytics.
LeanAgri is working towards enhancing farmer incomes by increasing farm yields through systematic implementation of scientific techniques including activity planning and decision making solutions
FFEM provides inexpensive soil quality testing devices for farmers that can be used along with smartphones. FFEM’s innovation helps farmers save time and energy by giving them instant results
The startup addresses problems such as underfed cattle, poor quality milk, farm waste among others through an online a prediction platform. Further, it produces low-cost nutritious cattle feeds fortified by up-cycled fruit and food wastes.
Bharat Rohan is a knowledge company which provides farmers in India with in-depth understanding of their lands and the health of their crop based on the data gathered from Unmanned Aerial Vehicles (or drones) which are equipped with specialised cameras and sensors.
FarmstoFork Solutions (Cultyvate)
Smart irrigation and smart mobile advisory leading to better crop quality and productivity and higher profitability are the unique selling points of the startup.
Cleantech
DataGlen has IoT based asset management solutions for solar plant owners and managers. The technology gives access to real-time visibility, reducing losses and downtime, better operations, reporting, and compliance.
Revy treats effluent waste including petroleum, chemical, dyes etc. through anaerobic process units and bio cultures.
The integration of the human-centric environment, capital equipment, predictive intelligence, and platforms into an easy-to-deploy SaaS system that enhances productivity while actively saving energy and managing the spaces for lighting, heating, ventilation, cooling, and internal air quality is the aim of Synapptra.
The startup is creating a novel waterless cleaning solution developed for solar PV panel cleaning the system and designed to maximise the efficiency of a plant to its full potential.
The SolarLabs has an AI-powered software for solar system design, it reduces engineer time and optimises system design for higher energy generation.
Benefits Of The YES SCALE Accelerator Programme
YES SCALE is a multi-sector accelerator programme aimed at helping startups looking for support in sectors such as smart city, cleantech, agritech, life sciences tech, and edtech.
Under the YES SCALE initiative, promising startups will be part of a 15-week programme where they will receive guidance and mentorship from more than a hundred industry experts. The startups will get an opportunity to receive proof-of-concept (PoC) funding from YES BANK of upto $1 Mn funding through its over 15 investment partners. The programme will have a first ever dedicated Investor Day wherein 50 startups will be invited to give five minute elevator pitches. Further discussion between the startups and investors will be facilitated at YES SCALE’s end. The programme will provide over $1 Mn in cloud credits, legal counsel, and open API access through its ecosystem partners.
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