VA Tech Wabag launches initiative to mentor start-ups in water technology space
Water technology major VA Tech Wabag Limited has launched a new initiative to support emerging start-ups in the water sector. Through the initiative, aptly termed ‘Blue Seed’, Wabag is looking to invest in, nurture, and empower promising start-ups with innovative water technology solutions that will shape a secure and sustainable water future.
The Chennai-based company will, through ‘Blue Seed’ identify and invest in early-stage water technology start-ups with high growth potential and will provide comprehensive support and resources to accelerate the success of these Waterpreneurs. The initiative aims to cultivate a thriving ecosystem of Waterpreneurs, who will collaboratively contribute to global water security and resilience.
The initiative was launched by Gopal Srinivasan of TVS Group, who is also chairman & MD of TVS Capital Funds Limited.
In an official statement, Wabag said the initiative breaks the mould of traditional funding by offering a multifaceted approach that fuels the success of early-stage ventures through capital support: Pre-seed and seed funding to jumpstart growth; advisory support: Invaluable expertise and support backed by decades of industry experience, technical know-how, vast data bank & thought leaders; direct access: Opportunities to work or pilot on live projects and access to global markets.
“As we enter into our centenary year, with a deep commitment to giving back to the industry, we are excited to launch BLUE SEED to support and promote emerging Waterpreneurs. Through this initiative, we aim to cultivate a vibrant ecosystem of innovative solutions, that can contribute to making the industry more sustainable and in building a resilient future”, said VA Tech Wabag chairman & MD Rajiv Mittal.
“Wabag is the third largest private water operator globally, serving over 88.8 million people worldwide with safe and clean drinking water and sanitation. This initiative will further bolster Wabag’s commitment to creating a cleaner and greener world”, he added.
VA Tech Wabag has not disclosed any specific amount for the ‘Blue Seed’ initiative.
The company has said that start-ups with a primary focus on delivering innovative solutions for the water sector are encouraged to apply for the programme. The start-ups must demonstrate a primary focus on delivering innovative solutions in the water technology sector and should develop unique/innovative process technologies and products to specific industry needs or challenges. There will be preference for early-stage start-ups, as the initiative provides pre-seed and seed funding. Also, the proposed solutions by the start-ups should showcase market potential and scalability.
