In a bid to help the Start-ups working in the fields of energy efficiency, waste management, and water management, private sector lender Yes Bank has unveiled a cleantech accelerator platform named ‘Yes Scale’ in association with the Ministry of New and Renewable Energy (MNRE).
Through this platform, the bank will be offering affiliated start-ups with the provision to access technology, mentorship, funding, and market entry. As per platform, the affiliated start-ups can avail the monetary benefit up to ₹2 million (~$0.029 million) as a pilot grant or for proof of concept.
“This is fully in line with the bank’s vision since inception – which was to cater to the ‘sunrise sectors of India’s economy’ using knowledge banking to deliver impactful ecosystem solutions,” said Rana Kapoor, MD & CEO of Yes Bank.
The programme will emphasise on several sectors namely smart cities, clean technology, agricultural technology, life sciences technology, educational technology, etc.
Early this year, the bank announced that it would provide up to $1 billion (~₹64 billion) for promoting finance solar photovoltaic (PV) projects in India by 2023 and $5 billion (~₹320 billion) by 2030 at the International Solar Alliance (ISA).