Here’s an opportunity for startups to co-launch a product with Bajaj Electricals!Team YS
If you are a startup, product designer, student or an entrepreneur that has a solution to transform how India consumes electricity, then apply today to co-launch a product with Bajaj Electricals.
With investment potential of $225 billion over the next four to five years, the Indian power sector is buzzing with immense opportunities for power generation, distribution, transmission, and equipment.
In 2017, several government initiatives, as well as contribution from private players, helped India realise its dream of becoming a ‘power-surplus’ nation, with no shortage of electricity or coal.
But nearly 25 percent of all Indians have no access to electricity. And those who do often contend with patchy and unreliable supply.
An encouraging number of startups in India are taking a fresh look at how they can solve this problem. Bajaj Electricals Limited wants to partner with such innovative startups via a unique initiative called navachar.in through which it will collaborate with entrepreneurs and students to co-create innovative solutions for India’s electricity sector.
The platform is specific about the nature of the problems that it wants to solve and has three diverse challenges that innovatorscan take on.
- The first option is a product design challenge that aims to solve the issue of inadequate last-mile connectivity in the power transmission sector. It requires participants to come up with a revolutionary design for an electricity transmission tower.
- The second challenge looks to address the issue of the long power cuts that most non-metro cities face every day. It seeks to create a totally unique power mechanism that is not dependent on electricity to power basic appliances at homes.
- For the third challenge, innovators and product designers are required to design a ‘made-for-India’ multi-utility light. This should not just be a portable light with some additional features, but should have multiple uses – the Swiss Army knife equivalent of lights.
In store for innovators with great ideas are some great prizes and benefits:
- Win cash prizes worth Rs 6 lakh
- Co-launch a product with a reputed brand such as Bajaj Electricals
- Get nationwide reach across over 100,000 retail outlets
- Get monetary and technical help to create POCs and convert ideas into working solutions
- Get mentorship from industry leaders and experts
The programme is scheduled in two phases.
Phase 1 which began on November 15, 2017, saw multiple startups registering.
You can still register and submit your ideas before December 30.
The top 10 ideas will be announced on January 15, 2018.
During Phase 2, the 10 shortlisted participants will need to develop a prototype of their solution between January 16 and February 16, 2018. These ideas will be showcased at the Demo Day on March 1, 2018, and the winners will be announced on March 10, 2018.
Speaking about the initiative, Anant Bajaj, Joint Managing Director (JMD) of Bajaj Electricals, said: “We strongly believe that business strategy is not just about positioning products and services, but also about identifying real problems and providing a radically different approach to deal with them. Navachar aims at doing exactly that. It is an attempt to work with some of the brightest minds across the country to find a different approach to problem-solving.”
This could be the perfect platform for you to bring your lightbulb moment to life and positively impact the lives of millions of Indians. So apply right away.
Registrations are now open. Head over to navachar.in for more details.