Accelerator Programs : Frequently Asked Questions
CleanEdge program is a four-month long startup accelerator program in the area of Environment Sustainability, Waste Management & Renewables. This program would run from Feb`19 till May`19 at Delhi-NCR. We have planned to select 15 startups under this program. This program would be executed by Aspirelabs Accelerator – founded by Ranjit Singh- Director at Polyplex Corporation Limited and alumnus of IIM Ahmedabad and BITS Pilani. Aspirelabs is a startup accelerator centrally located in Delhi-NCR with ten thousand square feet of premium office space and having access to high quality business and startup mentors. It is designed to foster entrepreneurship and innovation, and has a range of customized programs to enable young businesses and startups scale up to large profitable businesses. Aspirelabs is closely associated with Startup Oasis (http://startupoasis.in) – a Jaipur based incubation CIIE (centre of Centre for Innovation Incubation and Entrepreneurship) (http://ciie.co/) which is India’s leading incubator operating under the aegis of IIM Ahmedabad.
Our biggest differentiator is that startups in our program are going to get a customized support which would be tailored to the specific requirements of the startup, i.e., some startups may need help with their product development; some may need help on refining their concept, while some may need advice on sharpening their go-to-market plans or their business case. Key offerings under this program are 1) High quality intensive mentorship by Startup Experts, Functional Strategy Experts, domain related technical & sector specific experts. 2) Access to State-of-the-Art pilot lab facility at SRI-TBI in Delhi & Co-working facility at Aspirelabs 3) Access to “Appropriate” Technology, Opportunity to raise Seed-Capital upto 25 lakhs. 4) Access to Impact investors and Potential Customers. 5) Post acceleration support.
Startups working in Clean technology but not limited to: Circular Economy, Waste Management, Recycling & Up-cycling, Plastic & Rubber, Clean water & Clean air Technologies, Renewables, 3D Printing, Smart City Solutions, Environment Sustainability. Startups with minimum viable product (MVP) or Early stage start-ups with some customer traction / validation and revenue generation. Start-ups having direct or indirect impact on Triple bottom line: Social, Financial, Environmental
CleanEdge is a joint initiative supported by a) Department of Science & Technology (DST), Government. of India, b) Shriram Institute for Industrial Research & Shriram Institute -TBI c) Polyplex Corporation Limited & Aspirelabs Accelerator. Department of Science & Technology (DST), Government of India is supporting this program under its umbrella of National Initiative for Developing and Harnessing Innovations (NIDHI) scheme. Polyplex Corporation Limited (www.polyplex.com) is among the world’s largest manufacturers of packaging film with manufacturing facilities in five countries and employs over 2000 people globally. Apart from Infrastructural support, Polyplex through its network brings a high-quality business mentor pool, global linkages and market access for young startups. Shriram Institute for Industrial Research is an organization providing research and testing services in the field of plastics, rubbers, specialty chemicals and waste management. It also helps startups grow through nurturing innovative ideas into technologies and incubating entrepreneurs through its Technology Business Incubator (http://www.sri-tbi.org). This program would be executed by Aspirelabs Accelerator (www.aspirelabs.com)– founded by Ranjit Singh- Director at Polyplex Corporation Limited and alumnus of IIM Ahmedabad and BITS Pilani.
Selected start-ups would get an opportunity to pitch for an investment of up to INR 25 lakhs.
Will go as per case to case basis.
Yes, a startup is allowed to raise the investment during the program. But, it’s not recommended as it can be time wasting and can affect the productivity.
You can see details here.
A deposit amount of INR 50,000 will be charged from each selected startup. We will consider waiving off the fee for 10% of the candidates. We do not accept equity.
You don’t need to be staying in Delhi NCR for full 4 month during the accelerator program. There will be in total five contact sessions each of two to three days where you must be with us. We are planning these contact sessions over weekends so that it becomes easy for you to focus on your business in weekdays. Contact session tentative dates are given here
Applications are closed now.
Evaluation process is given below:
- Step 1: Startups are reviewed within 20 days of receiving applications.
- Step 2: Shortlisted candidates will be invited for a telephonic interaction with our review team. (Startups that are not shortlisted will be provided feedback on why we are not able to proceed further).
- Step 3: The startup will then be asked to make an in-person/Skype presentation to the selection committee (outstation candidates can present via video conference).
- Step 4: Post the final presentation selected candidates will be offered a term-sheet outlining the terms of engagement.candidates
- Step 5: After the startup accepts the term sheet, basic due-diligence will begin.
- Step 6: Post a successful due-diligence report, the startup will be accepted into the program and the investment process will commence.
We assure you that idea submitted by you will remain only with Aspirelabs and we will never share the details with any third party company or person.
Yes. These regular updates will help us to keep track of what’s going on and to determine the challenges startups are going on. These updates will help us to guide startups in a better way.
No, you can be based anywhere.
All the participants will have an access to our world-class office infrastructure during the program tenure. Other amenities like high-speed Internet, tea, coffee and other basic services are also a part of the infrastructure.
During this program, we will bring in several angel investors and venture capitalists after the program tenure where startups would be able to pitch them for funding. We will help you connect with a network of renowned angel investors, but it’s your responsibility to pitch them your business in a way that they agree to invest.
Yes. You can.
Yes, that happens sometimes. But even if you didn’t get the investment, you will have the knowledge gained from the program that you can use to start gain. Apart from the knowledge, you will have connections to some of the renowned mentors and investors.
You can email your questions to us at info@aspirelabs.com , you may reach out to us at our social media handles-Facebook or LinkedIn or visit/plan meeting at (https://www.aspirelabs.com/contact)
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