ABB’s venture capital unit has signed a letter of intent with Shell E4 Startup Hub, Bangalore, to empower Indian entrepreneurs in building sustainable, profitable and impactful organizations.
ABB Technology Ventures (ATV) will extend access to ABB expertise for selected startups in the Shell E4 Scale track program, which is designed for growth stage startups in the energy sector that have a deployable product or solution. The program focusses on helping scale their business and market share by leveraging the global reach of Shell and partners, such as ABB.
After a rigorous selection process, only a few startups were chosen to be a part of the program. So far, over 25 startups have been chosen under four cohorts out of the hundreds that applied for the program. Last month, representatives from ABB’s electrification business in mobility and smart buildings joined an ABB team, consisting of ATV and ABB India Corporate Research Center members. The team screened six startups during the “industry connect” day at Shell Technology Centre in Bangalore, India.
As part of this collaboration, startups in the program would have access to ABB’s prototyping and lab facilities, if required. They will also be given access to the wider manufacturing community who are part of ABB’s vast network and customer base in India. ABB will also support the selected startups in presenting pilots and will expand their access to wider range of customers, building a stronger mobility ecosystem in India. This will help the startups scale up, enabling growth of the ecosystem through relevant players, talent and capabilities so that more such startups can flourish.
Supporting innovation to increase value
“In today’s environment, we see many innovation programs competing for the same best-in-class startups. Shell’s open and collaborative approach to engage with partners like ABB enables more opportunities than trying to do the same thing in isolated compartments. Working together on common themes, screen new technologies and help startups grow and scale creates value for everyone involved. We are proud to be a part of the Shell E4 program and work with their amazing team,” said Arvind Vasu, Investment Manager for ATV in India.
On its part, Shell will involve ABB in selection of startups and the evaluation process for their scale track program. ABB will also be able to connect and actively collaborate with all the startups in the cohort during the program. Shell will also share its interest and knowledge with ABB to assist with development of a robust mobility ecosystem in India and offer co-investment opportunities in E4 Scale program startups.
Reinforcing ABB’s commitment towards a sustainable future, the startups in the program are writing the future in several ways. For instance, one of the startups in the program offers indoor and outdoor solutions to measure and monitor air pollution in smart cities and industries while another provides a fleet of electric vehicles for corporate-employee transportation. As climate change aggravates environmental problems, there is a sharper focus across the world to becoming more sustainable. Such solutions showcase tremendous potential in supporting and enabling for example cleaner and more energy efficient cities and industries.
“The aim behind this collaboration with ABB is to provide enhanced value proposition to startups who stand to gain from the combined expertise of Shell and ABB, which is renowned for its expertise in electric vehicle charging, robotics and automation in the mobility industry,” said James Unterreiner, General Manager, Shell E4 Startup Hub. “This collaboration will become a major actor in the entrepreneurial ecosystem by linking talent, technology, capital and know-how for scale track entrepreneurs in the country,” he added.
Get to know the latest class of 10 startups chosen for the 2020 edition of the program here.
About ABB Technology Ventures
ABB Technology Ventures, established by ABB in 2009, expanded its operations to India in 2016 with the objective of identifying and investing in game-changing technologies. ABB Technology Ventures currently has over 20 active portfolio companies and has invested nearly $200 million into startups spanning a range of sectors including robotics, industrial IoT, AI/machine learning, cybersecurity, smart buildings, electric mobility, smart cities, and distributed energy.
Shell is one of the most diversified international energy company in India with over 8500 employees and presence across upstream, integrated gas, downstream, renewable energy, and deep capabilities in R&D, digitalization and business operations. With a retail presence across six states – Karnataka, Tamil Nadu, Telangana, Maharashtra, Gujarat and Assam Shell is expanding its network of fuel stations across the country. It has the entire Lubricants end-to-end value chain in India, from conceptualization and development, to production and distribution. This includes a world class lubricant oil blending plant with a capacity of more than 115 million litres, a distributor network of more than 185 and over 60,000 retailers across the country. The company also fully owns and operates an LNG re-gasification terminal at Hazira. Through its subsidiary, BG Exploration and Production India Limited, Shell holds a 30% interest in, and is joint operator of the Panna - Mukta oil and gas fields. With a focus on digitization and future ready sustainable solutions, the company is nurturing a vibrant ecosystem in India to accelerate energy innovations with Shell E4 for start-ups, Shell Eco-marathon and investments in new energy companies like Husk Power and Cleantech Solar. Shell also remains committed to making positive contributions to the communities in which it operates through programmes like NXplorers, Access to Energy and Road Safety across India. Follow @shell_India @makethefuture @shell_ecomar to know how it is redefining the energy space.