AIC-Selco Foundation and Selco Foundation

info@aicselco.org

The Genesis

How did it start?

SELCO Foundation started its Incubation Centre in 2014 to support and establish energy access and sustainable energy enterprises that can deliver need-based solutions to underserved communities. It was one of the first Incubation programs in the country to focus on last mile clean energy enterprises, and with an aim to deliver a network of rural energy service providers. The incubation program was designed as a hands-on and customised program, where energy access enterprises are supported to build grass root business processes that respond to the needs and context of the communities. The key differentiator of this incubation facility has been the mentorship and operational support that is made available during the critical early growth phase of the enterprises, drawing from the operational experience of SELCO Solar Light Pvt Ltd.

In 2019, SELCO Foundation was selected to set up an Incubation Centre in the North East region under Atal Innovation Mission, Niti Aayog, Govt of India. AIC-SELCO Foundation was set up to encourage local innovators and energy enterprises to ensure inclusive development of the region. AIC-SELCO Foundation Incubation Center in Guwahati, Assam seeks to provide management expertise, intellectual capital, and hand holding support to enhance the capacity of potential local energy enterprises to innovate and deliver energy-based solutions to low-income communities in the North-Eastern region of the country.

Barriers for Grassroots Enterprises

1

Need for an enabling ecosystem

2

Customised business development services

3

Lack of access to Inclusive capital

4

Training facilities & trained personnel

5

Balancing social and commercial objectives

6

Appropriate Investment structures

7

Language and Image perception barriers

8

Timely access to rural credit for end users

Objectives of the Incubation Centre:

  • Inculcate a design thinking process that is rooted in the realities and challenges of climate change and poverty alleviation, bringing out solutions that are context driven and promote environmental preservation.
  • Create and deploy innovative solutions, involving technology and finance, that positively impact the well-being, health, education and livelihoods of the poor and the underserved.
  • Build sustainable social business models that use sustainable energy as a tool for poverty alleviation in an environmentally sustainable manner
  • Inspire and encourage participation of local entrepreneurs from remote regions, to take the lead in building enterprises, using sustainable energy technologies
Statutory reports