YES Bank proposes to select green energy startups and mentor them scale them through its new Cleantech Accelerator platform launched in association with the ministry of new and renewable energy. It will have some 3 to 10 such startups initially. The selected startups will get access to mentorship, scaling up and funding of up to $1 million per startup. Amit Shah, country head, Corporate Strategy at the bank, said the bank has a database of 500-600 startups and it is finding out specific cleantech companies or those having a cleantech application. The bank will also provide a grant of maximum Rs2 million per startup for pilot or proof of concept at the client cite. The solutions developed by the selected startups will be tested in the real environment by YES Bank’s existing clients – renewable companies keen on adopting innovations to improve their operations or products, Shah added.
