In July, this year, YES BANK launched YES SCALE, a platform accelerator for technology startups building disruptive solutions in five key impact sectors of the economy – agritech, cleantech, smart cities, life sciences tech, and edutech.
The programme aimed to bring together industry leaders, mentors, corporates, government bodies, and investors to help startups working to build solutions for a sustainable future and taking them from idea stage to implementation.
The benefits of the 15 week-long programme included technology support worth over $1 million, access to grants of up to $30,000, access to industry partners and commercial orders, funding support of up to $1 million, focused mentorship in each sector, access to global markets, and guidance on government and regulatory policies.
The programme received widespread responses from a number of startups working with new technologies like IoT, data analytics, Artificial Intelligence (AI) and Machine Learning (ML). Of the 1000+ applicants, 15 startups were shortlisted and went to the next round.
On November 1, at the YES Scale Investor Day in Mumbai, 22 shortlisted startups were called upon to make brief pitches to potential VCs and angels. Pitches focused on three sectors - agritech, cleantech and smart cities. Investors included Artha India Ventures, Rockstud Capital, Blume Ventures, and Pontaq.
The startup pitches outlined four key elements – core value proposition, business model, target segments, and how the solution can be implemented in certain focus areas. The selected startups will get an opportunity to refine their product / solution and test it in the market.
The pitches were followed by one on one discussions between startups and investors, 10+ startups are currently in investment discussions with Investors
The startups that made their pitches include:
Programme partners for YES Scale include the Ministry of Renewable Energy, the Ministry of Food Processing Industries, NASSCOM, Amul, Bosch, First Solar, Anthill, Unitus Ventures and Villgro, among others.