POWERSTART CLEANTECH VENTURE BO OTCAMP & ACCELERATOR PROGRAM

FOR CURRENT / ASPIRI NG CLEANTECH ENTREPRENEUR S IN INDIA

frequently asked questions

www.infuseventures.in

LIST OF QUESTIONS

Click on a question to be taken straight to it.

FREQUENTLY ASKED QUESTIONS – GENERAL

What is PowerStart?

How and when can I apply to PowerStart?

FAQs – START-UP TRACK APPLICANTS

APPLICATION & SELECTION PHASE

What is the stage of start-ups that can apply for PowerStart Bootcamp (Start-up Track)?

If I am applying as a start-up team, do I need to have a co-founder and/or a team? Can I

apply as an individual?

We are already a team but just have an idea for a cleantech start-up that we wish to work

on. Can we still apply to PowerStart?

Should we be based in India in order to apply? Can non-Indians apply?

What are the various sectors of interest from which applications are invited?

We don’t need the seed funding, does it still make sense to apply?

We already have a prototype/product ready; can we still apply and benefit from PowerStart?

I am keen on applying to PowerStart. However, I may not be able to make it for the

bootcamp at IIM Ahmedabad on the mentioned days (11-14 November 2013). Can I still

apply?

As a start-up team, is it essential to have fully worked out the financials for the application

form?

What will be the selection process for shortlisting finalists for the bootcamp?

What if I am not selected for the program? Will Infuse sign an NDA with me so that my

idea/technology/concept is protected?

BOOTCAMP PHASE

What, when and where is the PowerStart Bootcamp?

If I have been selected as a ‘start-up team’ for the Bootcamp, will my travel and lodging

expenses be taken care of?

Will all the participants in Bootcamp get considered for Acceleration support and be able to

pitch to Infuse?

ACCELERATION & PITCHING PHASE

What is the kind of support that will be provided to the selected start-ups during the

Acceleration Phase? And what does Infuse Ventures expect out of the teams (in this phase)?

Is financial support/funding for shortlisted applicants guaranteed?

FAQs – ASPIRING ENTREPENEURS TRACK

APPLICATION & SELECTION PHASE

What are you looking for in an ‘aspiring entrepreneur’ applicant?

Can we apply for Aspiring Entrepreneurs Track as a Team?

What will be the selection process for shortlisting finalists for the bootcamp?

Should we be based in India in order to apply? Can non-Indians apply?

What are the various sectors of interest from which applications are invited?

BOOTCAMP PHASE

What, when and where is the PowerStart Bootcamp?

If I have been selected for the Bootcamp, will my travel and lodging expenses be taken care

of?

EIR VENTURE CREATION PHASE

What exactly is the Venture Creation Phase?

What costs during the Venture Creation phase will be covered by us?

What is the kind of support that will be provided to the selected EIRs, after the bootcamp?

FREQUENTLY ASKED QUESTIONS – OTHER MISC.

Is there a brochure or flyer that I can share with other prospective applicants?

What if I/we have more questions?

FREQUENTLY ASKED QUESTIONS – GENERAL

What is PowerStart?

PowerStart is an intensive bootcamp and accelerator programme for aspiring entrepreneurs and

early stage start-ups in the cleantech, renewable energy and sustainability space in India.

Cleantech entrepreneurship in India is at a nascent stage and PowerStart is an endeavor to

catalyze entrepreneurship in the sector by providing business, technology, policy and financial

support to new ideas and enterprises. PowerStart leverages the strong network and experience

of its partners – Asian Development Bank, Infuse Ventures and IIM Ahmedabad’s Centre for

Innovation Incubation and Entrepreneurship (CIIE) – to help build a conducive ecosystem for

cleantech entrepreneurship in India.

We understand that existing entrepreneurs and aspiring entrepreneurs have different needs and

have therefore designed specific interventions for both sets. PowerStart has two different tracks

– namely “Start-up Track” and “Aspiring Entrepreneurs Track” – to help you jumpstart your

venture.

The table below summarizes the structure and dates of the program.

How and when can I apply to PowerStart?

Start-up Track - If you are an early stage start-up team in a prototype or execution phase for

your cleantech product/service offering, you can apply to the Start-up Track here or visit

http://www.f6s.com/powerstart#/apply. Only online applications will be accepted.

Aspiring Entrepreneurs Track - If you are an aspiring entrepreneur with relevant experience

in the cleantech/sustainability space or areas like information technology, project financing,

supply chain or other related areas, you can apply to become under the Aspiring

Entrepreneurs Track. Simply send us your CV along with a ‘statement of purpose’ (SOP) to

amber@infuseventures.in. The SOP form can be downloaded from here. Make sure to

mention “PowerStart EIR Application” in the subject line.

Last date of applications (for both tracks): 19th October 2013.

FAQs – START-UP TRACK APPLICANTS

APPLICATION & SELECTION PHASE

What is the stage of start-ups that can apply for PowerStart Bootcamp

(Start-up Track)?

Early stage cleantech start-ups teams that are beyond the business plan stage, but are presently

working on proof-of-concept, prototype or customer pilot can apply. You are a good fit to apply if

you are at a stage where guidance, mentoring and funds can help you scale up your venture

must faster. If you still have questions, get in touch with us.

If I am applying as a start-up team, do I need to have a co-founder and/or a

team? Can I apply as an individual?

We believe that as an applicant to the Start-up Track of PowerStart, you would have a nascent

stage, but already operating, venture. We therefore expect that you would already have a small

team. We strongly believe that entrepreneurship is a team sport where people with

complementary skills come together. If you are an individual and are still exploring an idea, you

may want to apply under the Aspiring Entrepreneurs Track.

We are already a team but just have an idea for a cleantech start-up that we

wish to work on. Can we still apply to PowerStart?

Ofcourse! But we recommend you to apply for the Aspiring Entrepreneurs Track as a team rather

than under the Start-up Track. We would be able to provide you closer guidance in converting

your idea into an enterprise, if you apply under the Aspiring Entrepreneurs Track. For the Start-

up Track, we are likely to give preference to teams that are already working on developing a

prototype of their idea/product/service. Again, do not hesitate to get in touch with us if you need

to clear this out with us.

Should we be based in India in order to apply? Can non-Indians apply?

Not at all. If you have an idea/product/service offering that is relevant to the Indian cleantech

market, you may apply for PowerStart. Also, it is not mandatory to have an Indian citizenship to

apply for the programme, as long as you fulfil the previous requirement. However, if you wish to

seek seed investment from Infuse (at a later stage), your start-up/venture needs to be

incorporated in India.

What are the various sectors of interest from which applications are

invited?

Start-ups applying for PowerStart may be operating in any vertical within the cleantech sector

including:

Decentralized renewable energy generation and storage

Energy efficiency and management

Resource efficiency & sustainability

Green buildings and materials

Green IT and smart grid

Sustainable agriculture

Green transportation

Water and wastewater treatment

Recycling and waste management

We don’t need the seed funding, does it still make sense to apply?

Ofcourse. The intent of the PowerStart is to help you accelerate your venture by providing you

with insights, networks and guidance. Funding is just one small component of building a venture.

We already have a prototype/product ready; can we still apply and benefit

from PowerStart?

Absolutely. Going from prototype/product/service to market is a long road. PowerStart has been

designed to help early stage entrepreneurs and start-ups in make this journey as fast and smooth

as possible. During PowerStart, we help you to overcome your gaps and challenges through

focused mentoring from functional and sectoral experts.

I am keen on applying to PowerStart. However, I may not be able to make it

for the bootcamp at IIM Ahmedabad on the mentioned days (11-14

November 2013). Can I still apply?

The Bootcamp marks the start of the program and aimed at building a strong foundation through

exposure to various aspects of cleantech. Thus, it is an essential component of the entire

programme and forms the basis of our decision to continue further engagement / explore

investment with the ventures. What’s more, everything is paid for! So clearly, it is imperative that

selected applicants, have to compulsorily attend the bootcamp.

As a start-up team, is it essential to have fully worked out the financials for

the application form?

Not at all. However, some understanding of the financials and projections for the future is

necessary for any business and it would be a good exercise for you to undertake. Sample answers

in the form should give you an idea. In any case, there will be sessions revolving around financial

modelling at the Bootcamp.

What will be the selection process for shortlisting finalists for the

bootcamp?

The finalists for Bootcamp will be selected by our team and mentors and will be done through a

combination of online evaluation, telephonic interviews and physical meetings, as may be

required on a case-to-case basis.

What if I am not selected for the program? Will Infuse sign an NDA with me

so that my idea/technology/concept is protected?

We get multiple and very similar applications with more or less the same idea/concepts.

Therefore, we cannot sign NDAs with all the companies that apply. You are free to keep

confidential information to yourself.

BOOTCAMP PHASE

What, when and where is the PowerStart Bootcamp?

The PowerStart starts with a Bootcamp which will happen in Ahmedabad. The selected Start-up

Track teams will spend 4 days at IIM Ahmedabad during the bootcamp (i.e. between 11-14

November).

The Bootcamp is an intensive training, networking and brainstorming camp for aspiring

entrepreneurs and early stage start-ups from the cleantech and sustainability space in India. The

Bootcamp is aimed at providing selected participants with capacity building sessions and

activities aimed at ‘all aspects’ of designing, building and growing a scalable cleantech venture in

India. The participants will also have the opportunity to meet and interact with ‘mentors’ and

experts with functional or sectoral expertise. At the end of the bootcamp, start-up teams will

create and present a ‘start-up booster plan’ with milestones and targets for the next 3-4 months

following the bootcamp.

If I have been selected as a ‘start-up team’ for the Bootcamp, will my travel

and lodging expenses be taken care of?

Absolutely! Our partner – ADB – has kindly agreed to bear the participants’ travel, lodging and

food-related expenses for the Bootcamp. Lodging will be arranged on the IIM Ahmedabad

campus during the Bootcamp.

Kindly note that tickets for your travel will have to be booked by an authorized travel agent of

ADB. (We will provide you more details on the process after shortlists have been declared)

Will all the participants in Bootcamp get considered for Acceleration

support and be able to pitch to Infuse?

While we shall try to provide Acceleration support to all the Bootcamp participants, the decision

shall be made at the end of the Bootcamp based on the needs of the start-ups and our ability to

support them in implementing the ‘start-up booster plan’.

ACCELERATION & PITCHING PHASE

What is the kind of support that will be provided to the selected start-ups

during the Acceleration Phase? And what does Infuse Ventures expect out

of the teams (in this phase)?

Selected start-ups from the bootcamp will participate in the Acceleration Phase which is a 3-4

month-long mentoring programme, during which they will be provided with crucial advisory

support from Infuse mentors. There will be no fee charged for these sessions. However, we

cannot guarantee coverage of travel or other expenses during this phase.

During the Acceleration Phase, we expect you to engage actively with us and our mentors in

accomplishing the objectives set out in the start-up booster plan. During this period we expect to

get to know you and also to observe the progress being made. We hope to provide you access to

subject matter experts for your venture and believe it will help you build strong advisory

relationships with these mentors.

At the end of the Acceleration Phase, you will get to pitch your venture to Infuse for equity

investment. Infuse invests across seed and early stage with investments ranging from Rs 25 lacs –

Rs 5 crores.

Is financial support/funding for shortlisted applicants guaranteed?

No. Infuse or our partners in the PowerStart programme do not guarantee financial support of

any kind (other than travel, lodging and food-related expenses incurred for attending the

bootcamp). Selected start-up teams from the bootcamp will be provided with mentoring and

advisory support for 3-4 months following the bootcamp, after which they will have the option to

seek seed funding from us. However, this is conditional on the stage of the start-up, our funding

capability and, most importantly, the commitment and progress shown by the start-ups in the 3-

4 month period following the bootcamp. The PowerStart Bootcamp is intended to equip

participants with tools necessary to set up a successful cleantech venture in India. Funding, while

crucial, is only a step in this process.

FAQs – ASPIRING ENTREPENEURS TRACK

APPLICATION & SELECTION PHASE

What are you looking for in an ‘aspiring entrepreneur’ applicant?

For the PowerStart Aspiring Entrepreneurs Track, we are looking for aspiring and committed

individuals (or teams of individuals) who want to build a venture in the cleantech sector. Selected

“Entrepreneurs-in-residence (EIRs)” will get to engage actively with Infuse, leverage our ideas,

networks and knowledge to help shape the ventures. Applicants should have a sound

understanding of the cleantech sector in India and relevant sectoral experience/expertise is

useful but not mandatory. More importantly, once selected, the EIRs will be required to spend a

month (‘Ideation Phase) with us in Ahmedabad post the bootcamp, during which the ideas are

developed further. While an ideal EIR would be one who is in a position to take a sabbatical of

few months from his/her current engagement, we are open to considering exceptional

individuals/teams with time/commitment constraints. If you still have questions, get in touch

with us.

Can we apply for Aspiring Entrepreneurs Track as a Team?

Yes. If you already have a team of co-founders wanting to explore your ideas and build a venture

by participating in PowerStart, you may apply together. Send your CVs and SOP (download the

form here) together in one single email to amber@infuseventures.in. Make sure to mention

“PowerStart EIR Application” in the subject line of the email.

What will be the selection process for shortlisting finalists for the

bootcamp?

The finalists for the Bootcamp will be selected by our team and mentors and will be done

through a combination of online evaluation, telephonic interviews and in-person meetings, as

may be required on a case-to-case basis.

Should we be based in India in order to apply? Can non-Indians apply?

Not at all. We encourage non-Indian individuals as well as teams based outside India to apply as

well. However, you should be committed to building a venture in India to be able to participate in

the program.

What are the various sectors of interest from which applications are

invited?

As an Entrepreneur-in-residence, we will expose you to various opportunities and challenges

within the cleantech sector. We believe that a lot of these challenges and solutions require multi-

disciplinary skillsets and hence believe that you should have functional expertise in areas like

information technology, supply chain, project financing, etc. Sectoral expertise in any of the

cleantech verticals will be an added advantage.

BOOTCAMP PHASE

What, when and where is the PowerStart Bootcamp?

The PowerStart programme starts with a bootcamp which will happen in Ahmedabad. During and

immediately after the Bootcamp (11-14 November 2013), the EIRs will be expected to spend

around a month with us in Ahmedabad to come up with and validate new ideas.

The Bootcamp, scheduled between 11-14 November, is an intensive training, networking and

brainstorming camp for aspiring entrepreneurs and early stage start-ups from the cleantech and

sustainability space in India. The Bootcamp is aimed at providing selected participants with

capacity building sessions and activities aimed at ‘all aspects’ of designing, building and growing a

scalable cleantech venture in India. The participants will also have the opportunity to meet and

interact with ‘mentors’ and experts with functional or sectoral expertise.

If I have been selected for the Bootcamp, will my travel and lodging

expenses be taken care of?

Absolutely! Our partner – ADB – has kindly agreed to bear the participants’ travel, lodging and

food-related expenses for the Bootcamp. Lodging will be arranged on the IIM Ahmedabad

campus during the Bootcamp.

Kindly note that tickets for your travel will have to be booked by an authorized travel agent of

ADB. (We will provide you more details on the process after shortlists have been declared)

EIR VENTURE CREATION PHASE

What exactly is the Venture Creation Phase?

Upon selection of the EIRs, Infuse team and our partners will actively engage with the EIRs to

study and develop new ideas and opportunities around which ventures can be created. Some of

these will be existing ideas that you and we come into the programme with, while others will

emerge during our brainstorming and discussions.

The Venture Creation process will typically comprise of ideation, validation and business

planning. The aim during this 3-4 month period will be to build a business plan around an idea

that can be validated by a few experts and industry. We would invite you to stay back with us in

Ahmedabad for a period of 1-2 months after the bootcamp, as needed on a case-by-case basis,

where we will spend more time with you on developing the ideas further. After this, you would

be expected to continue working on the business plan in close coordination with us, carrying out

surveys and research and preferably even building a prototype.

What costs during the Venture Creation phase will be covered by us?

Following the bootcamp, selected EIRs will be invited to stay on for 1-2 months with us in

Ahmedabad for the ‘Venture Creation Phase’ of the PowerStart EIR programme. Your lodging and

food-related expenses during this stay in Ahmedabad will be borne by us.

During the subsequent months of the Venture Creation process, you may be required to travel

across the country to validate the ideas. All costs during this phase shall be borne by the EIRs.

What is the kind of support that will be provided to the selected EIRs, after

the bootcamp?

Ideation - Following the bootcamp, the EIRs will spend around a month in Ahmedabad with us to

ideate and come up with potential interventions that we can jointly co-create through a unique

‘Venture Creation’ process. This phase would involve industry analysis, global benchmarking and

rigorous brainstorming sessions to come with ideas that we could further test and validate. We

expect you to join hands with other like-minded entrepreneurs and possibly find co-founders for

your future venture.

Post Ideation – EIRs engage actively with various stakeholders in industry and policy, with an aim

to validate their business ideas and to build a business plan for a new venture. Once the business

plan is ready, the EIRs can pitch to Infuse for possible incubation and seed investment support.

Infuse shall have the preferential right to invest this venture.

FREQUENTLY ASKED QUESTIONS – OTHER MISC.

Is there a brochure or flyer that I can share with other prospective

applicants?

A program brief for the PowerStart program can be downloaded from here. Feel free to share

the brief and this FAQs document with other prospective applicants.

What if I/we have more questions?

For any other queries, get in touch with us:

Manager – Cleantech Ecosystem Dev., INFUSE Ventures,

Centre for Innovation Incubation and Entrepreneurship (CIIE)

Indian Institute of Management Ahmedabad

Ahmedabad - 380 015, Gujarat, India

Tel.: +91-79-6632-4233, 4234

www.infuseventures.in

mohsin@iimahd.ernet.in