Indian startups have seen many regular backers recently. And even during the pandemic, the no of new and old startups flourishing did not reduce. Many Venture capitalist firms and angel investors have strengthened their position in the Indian Startup environment by pouring in some serious cash. At the same time, some companies have made a target to engage a fixed no of startups annually. And the Energy company Shell plans to do the same by working with at least 25-30 startups yearly under its E4 programme.
What is Energy company Shell’s motive behind this?
A thing is obvious that is the need for transitioning from the use of fossil fuels to clean energy. The E4 programme of the company will help Indian startups make some real progress with proper guidance and capital. Plus the main reason for introducing this programme is to speed up the entire transition process to renewable energy. Under the E4 programme of the company about 25-30 startups, every year will get help from Shell to scale up their business.
By bringing proper technology to the table, the company will be able to provide a proper environment for the startup’s growth. In the past three years, the company has already helped 30 startups and helped them flourish as a company.
What does Shell provide to the startups?
When a new startup is founded, two things are most important for its growth. These things are guidance and capital. Well, as a big company Shell has a lot of experience that it passes on the startups that qualify for its programme. It even provides a $20,000 capital to get their business running. Shell also helps these startups match with partners to raise further funding.
As per the company’s statements, the return that they expect from the $20,000 that they put in is $200,000. This will be in the form of equity and is kept 10 times so that only committed startups opt-in for the programme. Shell is also slowly working on expanding its portfolio of startup investments. It started only with energy companies but now is also looking into IoT, logistics and more.
Without proper guidance, a startup is just a lost opportunity. And its great seeing that Energy Company Shell under its E4 programme is training startups to turn their ideas into a sustainable business. What are your thoughts on the same? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
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