TechnoServe has announced the opening of applications for the second cohort of their sustainability focused accelerator, Greenr Sustainability Accelerator (GSA) Program.
The Mumbai, India-based initiative, supported by the IKEA Foundation and the Visa Foundation, aims to nurture approximately 350 green entrepreneurs in the Environment Action space over the next three years.
The GSA is a year-long equity-free program that provides tailored business advice to growing green businesses with a positive environmental impact. It has a large cohort of 132 Small and Growing Businesses (SGBs) and aims to establish a green business ecosystem. The program focuses on mitigating environmental degradation while uplifting communities through scaling these green startups.
The first cohort kicked off last year on World Environment Day (June 5, 2023), comprising 130+ startups from 53 cities across India. Some of these businesses hold innovative solutions such as producing biodegradable plastics, affordable and scalable cold storage technology that reduces waste from farm to table, transforming shipping containers into moveable luxury villas, menstrual hygiene products using biodegradable alternatives to plastic, and tech solutions that enable businesses to track the location of their plastic shampoo bottles, among others.
Led by Ajay Menon, Program Director, Greenr Sustainability Accelerator, the Greenr Accelerator pairs each participating business with experienced Business Advisors who are full-time staff at TechnoServe. These advisors collaborate closely with entrepreneurs to develop and implement tailored growth strategies that help scale their businesses and increase environmental impact.
Participants become part of an environment action community, including like-minded peers, sector specialists, and subject matter experts in India. Additionally, they undergo a business training and planning course with a top-tier Indian business school. The program concludes with a Demo Day, offering funding opportunities from equity, debt, and philanthropic financiers such as Peak Ventures, Green Artha, India Angel Network, Chennai Angels, 3i Partners, Acumen, Climake, Rainmatter, Caspian Debt and others. The GSA also collaborates with organisations such as Indigram Labs, Climate Asia, FICCI Flo, NDBI, Nasscom, and Marico Innovation Foundation to strengthen the ecosystem for environment entrepreneurship.
Led by Joydeep Dutt, Country Director, TechnoServe India, TechnoServe is a global leader in micro, small, and growing business acceleration, managing a portfolio of 47 programs across 30 countries. TechnoServe works directly with businesses and across whole market systems to make them more sustainable — environmentally, socially, and commercially. TechnoServe works closely with rural and urbanising women and men in developing countries to build enterprises that generate income, create livelihood opportunities and fuel economic growth. Headquartered in the United States, TechnoServe operates in more than 30 countries. TechnoServe impact in 2022 includes 357,980 direct beneficiaries (39% women), over $366 million in financial benefits for people and enterprises, and 32,460 individuals with better jobs.