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Will Vedanta Spark 3.0 Spark The Next Advancement In The Green Revolution?

By TechDogs Bureau

TD NewsDesk

Updated on Tue, Aug 29, 2023

Overall Rating
What do you think of when we say “Sus” - does it remind you of the online multi-player game Among Us?

For most businesses, the word would probably remind them of “sustainability”.

In the last few decades, sustainability and clean energy have become a huge talking point. In fact, it’s gone past just talking and has evolved into a range of enterprises engaging in the development and advancement of sustainable technologies, from climate to food and even transportation.

Check out what’s happening with electric vehicles (EVs) in this regard.

Startups aren’t too far behind either. Rather they’ve been active in the movement. However, there’s one thing with startups that can shut them completely or even cause hindrances in progress – the one thing we all want – money.

To help sort out the ‘lack-of-greens' issue and boost the green movement, Vedanta Limited is here with its global initiative, Vedanta Spark 3.0. #GoGreen

What is it? Let’s explore:
 

What Is Vedanta Spark 3.0?

 

  • Vedanta Spark, a product of Vedanta Limited (an Indian multinational mining company), is a global initiative that aims to boost over 100 startups with financing up to $5 million.

  • It primarily aims at offering support to businesses engaged in sustainability solutions and real-world problem solving.

  • As summarized by the company’s website, “Vedanta Spark is a unique global corporate innovation, accelerator, and ventures program that aims to empower startups to create large-scale impact by leveraging sustainable and transformative technologies.”

  • [contd.] “By collaborating with the group companies of Vedanta, a leading global natural resources and technology conglomerate, the program strives to solve real-world challenges and shape the future of the industry.”

  • The image below exhibits the impact of the previous two editions:

   

What Will The Third Edition Of Vedanta Spark Do?

 

  • Vedanta will collaborate with 100+ startups to explore sustainable technologies, as well as focus on their growth.

  • The focus area of the program will follow three key points while driving innovation. These include enhancements to business efficiency, facilitating digital transformations and achieving Net Zero sustainability goals.

  • Vedanta will bring in state-of-the-art infrastructure, resources, in-house expert insights and advice.

  • Startups will get quality assistance with product refinement, operation scalability and sustainability growth.

  • Vedanta has collaborated with MeitY and NASSCOM’s Center of Excellence (CoE) for the program.
   

What Did Vedanta Say About This Initiative?

 

  • “Through this initiative, we also aim to inculcate a startup culture by enabling the businesses to collaborate with some of the brightest minds in the nation as well as usher in the next generation of industry leaders. This year we hope to increase focus on ESG transformation through innovative solutions and are also looking to engage with and support more women-led startups,” said Priya Agarwal Hebbar, Chairperson, Hindustan Zinc and Director, Vedanta Group.

  • Arun Misra, CEO, Zinc Sector, Executive Director, Vedanta Limited, said, “Spark 3.0 intends to bring forth more than 100 initiatives with opportunities up to $5 Mn this year by partnering with innovative startups and utilising their cutting-edge technologies. This collaboration serves as a powerful catalyst for Vedanta’s mission of creating large-scale impact by harnessing open innovation and technologies.”

 
Over the last few years, sustainability-driven tech companies and startups have been in the crosshairs of enterprises and venture capital firms,  including companies focused on climate, energy, mobility, supply chain, agriculture, food sustainability, etc.

Will this program be effective in helping smaller businesses achieve sustainability while overcoming various challenges? Let us know in the comments below!

First published on Tue, Aug 29, 2023

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Enterprise Solutions Vedanta Vedanta Spark Startups Sustainability Green Renewable Food Climate Energy Mobility Supply Chain Agriculture

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