Panasonic Life Solutions India (PLSIND) and Panasonic Corporation (PC) in collaboration with seed stage venture capital 100X.VC announced the shortlist of 12 start-ups from over 140 entries received for the ‘Panasonic Ignition’ Corporate Innovation accelerator program.
Panasonic aims to mentor, guide, and fund early to mid-stage start-ups that are creating innovative solutions in the field of Energy Management for commercial spaces.
A total of over 140 start-ups applied for the program that was launched earlier this year in October 2023. After a robust evaluation process, 12 start-ups were shortlisted. These start-ups will participate in the ‘Panasonic Ignition’ program over the next three months. They will receive comprehensive support from both Panasonic and the 100X.VC teams, in the form of mentorship sessions, guidance, and financial resources to complete their project. As part of this engagement, Panasonic will also roll out challenges for the start-ups based on regular reviews. The final winner will be announced in March 2024.
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"It has been a rewarding experience working closely with the Panasonic Corporation teams, from both Japan and India. Due to joint efforts by both teams, in a very short span of time, we were able to attract many applications from high-quality start-ups," said Mr. Yagnesh Sanghrajka, founder and CFO at 100X.VC.
Following is the list of the 12 promising startups:
1. SustLabs - Develops consumer IoT solutions for home energy monitoring.
2. MinionLabs - Develop a product for measuring individual energy consumption in buildings.
3. Clairco - Develops IoT-based smart air purification devices and space optimisation.
4. Enlite - Provides an AI-enabled wireless building management system
5. Zodhya - Provider of energy optimization solutions for commercial spaces
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6. Living Things - Provider of a smart control hub for air conditioners
7. Sensiable - Provider of an IoT-enabled workplace space management solution
8. Carbon Minus - provider of cloud-based solutions for energy plant management
9. Nebeskie - Provider of a SaaS, AI and IoT-powered electricity management platform.
10. Quebeq Venture - Integrates a Virtual Power Plant with proprietary energy solutions
11. Blaze - Provider of IoT Gateway energy monitoring, and smart control system.
12. Cymbeline - Developer of industrial IoT with diverse hardware, middleware, analytics, and cloud.
The accelerator program ‘Panasonic Ignition’ has been designed by Panasonic India Innovation Centre. Selected young founders of emerging start-ups, will receive investment, access to various masterclasses, expert mentorship, and support around product strategy and growth that would assist them in building innovative technologies and products while solving real-life challenges related to energy management in spatial infrastructures.
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