FINILOOP PLASTIC LAB : FREQUENTLY ASKED QUESTIONS
FINILOOP PLASTIC LAB – part of FINILOOP (Financial Inclusion & Improved Livelihoods Out of Plastics) – a city-level solid waste management model designed to achieve plastic waste free cities.
FINILOOP Plastic Lab, run by AspireLabs is a 14-month Incubation & Mentorship program focused on early stage, technology driven start-ups in Plastic Waste Management space with impact in Udaipur and Amritsar cities to take their ventures to the next level.
Explore more at www.aspirelabs.com/fpl
Our biggest differentiator is that FPL program design is such that it would be of great value to all the stages of startups including it is tailored to the specific requirements of the startup, i.e. some startups may need help with their product development; some may need help on refining their concept, while some may need advice on sharpening their go-to-market plans or their business case.
FPL is supported by IKEA Foundation.
The program offers prototype development grants up to Rs 3 Lakh to top 10 selected startups for all 3 cities depending on the stage and need of the venture.
The program offers pitch preparation and fund raising access to Marquee investors through two demo days and guidance on the side-lines during the course of the program.
Will go as per case to case basis.
We would consider Startups which are Scalable and innovative in their approach. Startups would be evaluated and given feedback during the program, we would consider them for the investment based
on their performance and feedback from mentors.
A startup is allowed to raise the investment during the program. But, it’s not recommended as it can be time wasting and can affect productivity.
Yes, provided that the market has space to accommodate them
No. However your startup must help the focus cities (Udaipur and Amritsar) get plastic waste free by any means.
Startups working in Plastic Waste Management at any place in India however have set up operations at either of the cities mentioned, and contribute in getting them plastic waste free.
Applications are closed.
There will be 2 levels of evaluation, we will be uploading the process on our webpage shortly.
We would be selecting startups based on Problem Solution Fit, Potential Impact (ESG), Team and Business Viability.
We assure you that ideas submitted by you will remain only with AspireLabs and we will never share the details with any third party company or person without your consent.
Yes. These regular updates will help us to keep track of what’s going on and to determine the challenges startups are going on. These updates will help us to guide startups in a better way.
No, you can be based anywhere but it must help the focus cities in getting plastic waste free.
No, we don’t provide any accommodation. However, AspireLabs may be able to share some good references based on inputs from our earlier startups.
All the participants will have access to our world-class office infrastructure during the program tenure. Other amenities like high-speed internet, tea, coffee and other basic services are also a part of the infrastructure.
AspireLabs will try to bring in several impact investors and venture capitalists after the program tenure where startups would be able to pitch them for funding. We will help you connect with a network of renowned angel investors, but it’s your responsibility to pitch them your business in a way that they agree to invest.
Yes. You can.
Yes, that happens sometimes. But even if you didn’t get the investment, you will have the knowledge gained from the program and you can use the program learnings to start over again for the fund raising activity. Apart from the knowledge, you will have connections to some of the renowned mentors and marquee investors.
👉14-month long hand holding support
👉Prototype grant up to INR 3 lacs* to top 10 Startups
👉1-1 mentoring sessions with industry experts and entrepreneurs
👉B2B meetings with leading startups/corporates for potential collaboration
👉Workshops with business gurus
👉Technical support in prototype building
👉Pre-Demo Day & Demo-day
👉Opportunity of follow-up funding from Marquee investors
👉IPR filing and company registration support
👉Post program support of 9 months
Applications are closed.
The FPL Program is being executed by AspireLabs (India) in partnership with WASTE Foundation (The Netherlands) and Trust of People (India) . In addition to this it is being supported by IKEA Foundation.
● Waste pickers
● Existing business
● Small and Medium enterprises
● Other Stakeholders from the local, national and international ecosystem
That is fine, you may write to us at email@example.com or visit us physically at B-37, sector -1 Noida, Uttar Pradesh, India.