New Delhi: Gurugram-based incubator and accelerator Huddle has partnered with growX ventures to initiate an Electric Vehicles Acceleration Program for early stage ventures working in the electric vehicles (EV) field.
The program is focused on B2B facing ventures based in India enabling the value chain across battery-level innovations, charging infrastructure, low-cost manufacturing, and data-driven solutions.
The selected startups will be provided upfront investment up to $150,000 with access to additional funds as the program proceeds, dedicated mentorship from Huddle’s reputed mentor base, pilot opportunities with large partner organisations and university research and data to help them scale.
The program will be open for applications for relevant ventures across India from May 27th to June 16th, 2019, with the acceleration program kick-starting on July 15th for a period of 3 months.
Key Highlights of the Program
Focus area will include innovations across the following four sectors. The information below highlights the overall scope of applications across each of these sectors.
Benefits from the Program
- Upfront investment up to $150,000 by growX in up to 3 select startups.
- Acceleration drove by Huddle, wherein a dedicated mentor will work on a one-on-one basis with each selected startup.
- Opportunity for a proof of concept, pilot or commercialization with top MNCs in line with the solution being developed, tested and sold.
- Opportunity to raise a further round of investment to the tune of >$500k, led by growX or other reputed institutional investment partners.
- Access to faculty and research insights from top universities to validate the technology and use cases, in addition to testing developments.
As part of this program, reputed national and international organizations have partnered to assist the growth in the Electric Vehicles industry, space witnessing increasing growth and support by the public and private stakeholders. Huddle and growX ventures have come together with key stakeholders in the form of OEM’s, battery manufacturers, power and energy focused companies, as well as key fleet and last-mile delivery companies, to strengthen these efforts as part of the acceleration.
An overview of the focus sub-sectors is highlighted below
- New battery technology to improve performance and operating feasibility driven through operational efficiencies, operating performance levels, and cost of setup.
- Battery Management Systems (BMS) and software applications to improve the operating efficiency, measure usage behavior/predictability and drive R&D.
- Innovative models around battery swapping and/or infrastructure setup.
- Relevant business models around public vs. private partnerships to explore means of the setup of new charging infrastructure.
- Innovations around charging mechanism, which could include means to improve the charging process, facilitating superfast charging or building EVSE management software.
- Manufacturing setups and models to improve the unit economics, further enabling increased accessibility and scale across sectors.
- Retrofitting techniques and processes to improve adoption at the commercial level.
- Leveraging data inputs and insights to keep a track of performance metrics, in turn improving the scope for efficiency.
- Data analytics tools and platforms to gather actionable data sets, which can be leveraged to improve performance at a product/solution level for multiple stakeholders.
- Support service applications leveraging SaaS-based models to enable further productivity to different stakeholders in the value chain.
- Models leveraging the network layer across product/service level, through innovations such as IoT enabled solutions.
(Image credit – Cleanenergyministerial.org)