In an effort to support aspiring entrepreneurs in the sustainable energy sector, INFUSE (Indian Fund for Sustainable Energy) was launched on 25th August 2011 at IIM Ahmedabad by Dr. Farooq Abdullah (Honorable Minister, New and Renewable Energy, Government of India) and Shri Narendra Modi (Honorable Chief Minister, Gujarat State).
Other luminaries present at the event included Shri Deepak Gupta (Secretary, MNRE), Shri Justin Adams (Head, BP Ventures), Shri H. K. Mittal (Secretary, Technology Development Board), Prof. Samir K. Barua (Director, IIM Ahmedabad) and Prof. Rakesh Basant (Chairperson, IIM Ahmedabad).
The Indian Fund for Sustainable Energy (INFUSE) is a first-of-its-kind public-private-academia partnership to bridge the energy demand-supply gap in India through sustainable entrepreneurial solutions. This unique endeavor brings together policy makers, academicians, corporations and developmental organizations to collaboratively incubate, build and fund new enterprises in the sustainable energy sector.
- Support existing innovators and entrepreneurs to pilot and scale-up their solutions through equity investment and mentoring from INFUSE; investments up to INR 6 crores (~ $ 1.5 million) per venture shall be made by INFUSE.
- Develop entrepreneurial teams around innovative ideas and business models and seed/incubate them with incubation funds of up to INR 1 crore per venture.
INFUSE will be managed by the IIM Ahmedabad’s Centre for Innovation, Incubation and Entrepreneurship (CIIE). Supported by Ministry of New and Renewable Energy, Technology Development Board (TDB), IIM Ahmedabad and BP, the initiative has an estimated fund size of INR 100 crores and will bring together like minded organizations to build future energy ventures for India.
For more information, visit www.infusecapital.in.
Source: Centre for Innovation, Incubation and Entrepreneurship (CIIE), IIM Ahmedabad.