Karnataka Minister Shri Priyank Kharge announces grant worth Rs 50 lakh for start-ups with a social focus at Shell Energy Entrepreneurship conference 2018
Sep 03, 2018
Shell E4 start -up hub’s first cohort demonstrate energy and sustainability solutions at the conference
Bengaluru, September 3, 2018: Today, at the first Shell Energy Entrepreneurship Conference 2018, Shri Priyank Kharge, Minister for Social Welfare, Government of Karnataka, announced a grant worth Rs 50 lakh for start-ups with a strong social bent and working in rural development or rural well-being in the state. The conference organized by Shell E4, the company’s start-up hub featured a unique gathering of energy focused start-ups, Venture Capitalists, Energy Experts, Academia. The day also served as the graduation event for Shell E4’s first cohort of energy and sustainability start-ups. Launched in 2017, Shell E4 Start-up Hub aims to foster a vibrant ecosystem of energy entrepreneurs by bringing together talent, technology, capital and know-how to accelerate India’s transition towards a sustainable energy future.
Earlier this year, Shell selected five start-ups– Detect Technologies, ION Energy, IoTrek, Trashcon and Ossus Biorenewables– that are working on a diverse range of solutions, including real-time pipeline monitoring, creating safer and smarter infrastructure and outdoor work sites, automating segregation of municipal solid waste, recovering green chemicals from waste water and building energy storage systems and infrastructure for electric vehicles. These start-ups are successfully integrating technologies like IoT and Artificial intelligence within their core products.
Shri. Priyank Kharge, Minister for Social Welfare, Government of Karnataka, the chief guest at the event is a champion of the thriving Bengaluru start-up ecosystem and spoke about Karnataka government’s vision and commitment towards fostering the start-up ecosystem in India. In his keynote address, the minister said, “I would like to take this opportunity to announce that, to encourage more social innovations, any innovation that will be focused at rural development and well-being with a strong social impact, the Department of Social Welfare, Government of Karnataka, will be willing to support start-ups across the state with a grant of Rs. 50 lakh.”
Speaking on the occasion, Mr. Nitin Prasad, Chairman, Shell Companies in India, said, “Shell is committed to be a trusted partner in India’s growth story through its people, partnerships and innovations. Shell E4 furthers our commitment to nurture the innovation and entrepreneurial ecosystem in the country. We will continue to evolve Shell E4 to foster solutions that can help India access more and cleaner energy and drive sustainable growth. We wish each of the graduating start-ups the very best in their journey towards a sustainable future. We shall continue to liaison with them through Shell’s alumni network to help them further develop and deploy their technologies at a larger scale.”
The Demo Day also witnessed several panel discussions on Energy Entrepreneurship and Innovation, Future of transportation and mobility. In the discussion on Energy Entrepreneurship and Innovation, focus was primarily on the overall scenario of energy innovation in India with a focus on production and consumption of energy within the country. The speakers discussed the opportunity and challenges along with counterpoints and solutions for achieving sustainable energy security. Likewise, the discussion on investment in energy sector, saw panelists talk about what investors are looking at in energy sector along with possibilities of the investment funds planning to invest in energy. Additionally, the day also saw ‘Speed Pitching’, where a few other start-ups who were invited made instant, elevator pitches to the investors present at the event.
Mr. James Unterreiner, General Manager, Shell E4 Start-up Hub, said, “The strategic intent of Shell E4 is to accelerate India’s transition to a sustainable energy future by becoming a major actor in the entrepreneurial ecosystem by linking talent, technology, capital and know-how for energy entrepreneurs in the country. The E4 incubator invests in the most promising start-ups to develop early insights in critical innovations and to build alignment and commitment with companies that we like to partner with. I congratulate the first cohort of Shell E4 and wish them well in their journey."
Located at Shell Technology Centre Bangalore, one of the company’s three global innovation hubs, Shell E4 housed the E4 start-ups at a vibrant co-working space for six months. The start-ups were offered a seed funding of USD 20,000 each and access to:
- State-of-the-art testing and prototyping laboratories for product development and testing
- Bootcamps aimed at customer discovery and improving the product
- Top industry mentors and experts
- New markets and interactions with investors and other growth and funding opportunities
Shell in India
Shell is one of the most diversified international oil company in India's energy sector with over 7000 employees. It is a major private sector supplier of crude products, chemicals and technology to public/private sector oil companies. It maintains a significant presence in the country with its lubricants and retail businesses. Shell also has a technology center, a financial business operations center, an in-house global IT center and operates a joint venture LNG receiving and re-gasification terminal. Through its subsidiary company BG Exploration and Production India Limited, Shell holds a 30% interest in, and is joint operator of, the Panna - Mukta oil and gas fields and the Mid and South Tapti gas fields (PMT fields).