Bangalore, India – July 11, 2024 – Sustainiam, a pioneering Bangalore-based climate-tech startup, is thrilled to announce its selection by the IKEA and VISA backed Greenr accelerator, an equity-free accelerator program aimed at propelling green startups forward on 28th June 2024. The Greenr Sustainability Accelerator Program by TechnoServe, supported by the Ikea Foundation and Visa Foundation, aims to scale up green startups by linking them to knowledge, capital, and markets. As part of its first cohort launched in June 2023, the program worked with 130+ startups, raising $5M in funding through equity, debt, and grants. In its second cohort, Sustainiam is among 150+ startups dedicated to mitigating the environmental crisis in India.
The Greenr Sustainability Accelerator program is one of the largest sustainability accelerators, nurturing high-growth businesses disrupting the Environment Action space. The program helps identify and execute strategies to build resilient revenue models and world-class enterprises, aiming to restore the environment and uplift communities worldwide through scale-bound startups.
From a competitive pool of 600 candidates globally, Sustainiam emerged as a standout, chosen for its innovative solutions in the carbon economy and carbon credit certification. This selection, following a state-level grant from the Government of Karnataka’s Elevate 2023 Call 2 program, solidifies Sustainiam’s leadership in the sustainability sector.
“We are honored to be selected by the Greenr Sustainability Accelerator,” said Sapna Nijhawan, Founder and CEO of Sustainiam. “This recognition not only validates our commitment to combating climate change but also accelerates our mission to drive innovation in sustainability. The support from the program, IKEA Foundation and VISA Foundation, which includes invaluable guidance, market access, and funding opportunities, will be instrumental in scaling our solutions and making a global impact. Greenr’s assistance in building strategic insights, securing financing, and fostering a community of peers will empower us to elevate our initiatives and drive significant progress in the sustainability sector.”
This prestigious selection highlights the crucial role of carbon economy and carbon credit certification in bringing transparency and verification to climate change solutions. It also underscores the strong incentives provided to the green economy, driving faster growth and serving as a catalyst in the fight against global warming.
Speaking about the accelerator and their goal, Ajay Menon, Program Director, Greenr Sustainability Accelerator, shares, “In order to mitigate extreme climate impact and its devastating effects on people’s livelihoods, businesses will have no option but to change the ways in which they operate across the value chain, right down to product and service distribution, while we as consumer re-evaluate our lifestyles. With Greenr, we look towards a greater understanding of the interventions required to scale green businesses, who hold the power to economic and ecological sustainability, if provided the right support. We also hope to unlock innovation through their products and services, value through greater awareness and customer adoption as well as financing. We also hope to unlock innovation through their products and services, value through greater awareness and lastly, financing.”
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