How does the government push the growth of accelerators?
Government and regulatory bodies hold the power of strengthening the root of companies as well as accelerators. However, at times, these regulatory bodies can also inhibit the growth of companies that do not seem to prove beneficial to the economic condition of the country. When it comes to successful accelerator programs, the government also plays its part as an investor and provides a funding mechanism, if required. CleanEdge Accelerator Program is one such program that the Government of India supports. Here is how the involvement of the government may help—
Funds for a well-educated workforce
‘Funding’ is an important element for any accelerator to accomplish its growth target. If the government takes an interest in your accelerator project and can predict the benefits of this step towards the society, you are a lucky team. In an accelerator case study, the support offered by the Singapore Government has concluded as a great help. The MP and its team provided US$ 1 million to hire the engineering team for its project and further, granted US$ 1 million in equity investments for alignment of incentives for the accelerators’ staff in the long run. Similarly, Government of India is playing its part in the CleanEdge Accelerator Program by providing the support of 200 scientists, additional research and testing services and more.
Immigration of start-ups, entrepreneurs, and mentors on visa
When it comes to attaining a visa, it is not an easy process. The government, in support of your accelerator program, can make it easy to bring your team, selected start-ups, entrepreneurs, and mentors from overseas into the country. The regulatory bodies in UAE have been in support of announcing 10-year visas for scientists, medical experts, R&D tech-intellects till the year 2021. This policy seems to play a major role in the growth of the individual and registered companies from UAE in the context of innovation. Thus, we can say that the government can make it easier for skilled workers from abroad to move to the country if your accelerator program seems to contribute to the growth of the country’s economic condition.
Access to first-grade accountants and lawyers
There are a ton of legal procedures that need to be done when it comes to launching an accelerator program. Many start-ups take part in the program from all over the world. Also, providing funds to selective start-ups makes room for accountants in need. CleanEdge Accelerator Program will select a minimum of five start-ups for seed funds of up to 25 lac. The program is a public-private accelerator program that focuses on environmental sustainability, waste management, and renewable energy. Thus, it is clear that the Government of India is playing its part in the program. Besides, the services of accountants and lawyers brought in for assistance by the government are discounted. Hence, it helps maintain long-term relationships between the service providers and the accelerator program authorities.
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What is the CleanEdge Accelerator Program?
CleanEdge Accelerator Program is a 4-month program which will run from February’19 to May’19. The program is based on environmental sustainability, waste management, and renewable energy. In this program, 15 start-ups will be selected at the end of the final stage among which a minimum of five start-ups will receive seed capital (fund) of up to 25 lac. All start-ups based on technology, environmental sustainability, and also the ones founded or co-founded by women, recycling or upcycling or any other ecological based objective are eligible for participation. Applications are open!