Delhi, 9 May 2022: In line with its mission to support startups, Vedanta, the globally diversified energy & resources conglomerate, has launched Spark 2.0, a Global Corporate Open Innovation and Accelerator program that aims to enable startups that leverage transformative & sustainable technologies to create large-scale impact. Startups selected under the program will get to work in partnership with the group companies of Vedanta which has operations across 3 continents. These startups will get access to a host of benefits including Market Access and Commercial Pathways, Capacity and Resources, Advisory from Domain Experts, and Strategic Investments.
This focus of Spark 2.0 is to achieve sustainable digital transformation in the energy, mining & resources sector through strategic partnerships. The program is curated and implemented in partnership with Forge – Coimbatore Innovation and Business Incubator with thrust on Environmental, Social and Governance (ESG), Digital Core, Allied excellence, and Emerging technology. Interested startups can apply on www.vedantaspark.com before 15 May 2022.
Announcing the launch of Vedanta Spark 2.0, Chairman of Vedanta Resources, Mr. Anil Agarwal, said “Startups are the engines of transformation. Their innovative solutions can help us drive operational excellence and strategic growth in a sustainable manner. I am proud to be launching a program which empowers the young entrepreneurs of our country. Nothing makes me happier than seeing our talented youth reach new heights.”
The first run of the program – Vedanta Spark 2020-2021 was a tremendous success with over 1300 startup applications from across 29 countries. Spark 1.0 had launched 60+ Innovation Challenges and 23 winners with 46 pilot projects with an estimated investment of over USD 2 Million.
“What we offer to startups is our scale. We are always open to the idea of startups using us as their playground for testing their cutting-edge technology. We welcome all such startups to the Vedanta family”, Executive Sponsor Akarsh Hebbar said.
Aligned with Union Govt’s Startup India program, Vedanta Spark is a pre-seed initiative by Vedanta group, to support and scale startups in building world-class products in the technology space and opening avenues for them to win commercial orders globally.
Vedanta has associated with multiple partners like Startup India, Atal Innovation Mission, Meity Startup Hub, AIC – Sangam, SINE – IIT Bombay, International Institute of Information Technology – Hyderabad, 10000 Startups, The Gain, McKinsey&Company, 100 Open Startups, iCreate and Headstart to reach out to large number of deserving innovative and technologically advanced startups.