Learn how the Greenr Sustainability Accelerator Program by TechnoServe is fostering green small businesses in India, creating jobs and environmental impact.

Introduction

In the face of escalating climate challenges, the transition to a sustainable economy has never been more critical. Green small businesses (SGBs) are at the forefront of this transformation, offering innovative solutions that balance economic growth with environmental stewardship. Recognizing their pivotal role, the Greenr Sustainability Accelerator by TechnoServe is empowering green businesses in India, providing them with the support necessary to thrive and drive meaningful change.

The Need for Green Small Business Support in India

India, ranked as the seventh most climate change-affected country globally, faces severe environmental threats that could push millions into poverty if not addressed promptly. Traditional economic models centered around a “take-make-waste” approach are unsustainable, necessitating a shift towards a circular economy. Green SGBs are essential in this transition, offering eco-friendly technologies and solutions that promote the reuse, recycling, and restoration of natural resources. However, these businesses often encounter unique challenges, including limited market development, insufficient access to finance, and difficulties in quantifying their environmental impact.

Overview of the Greenr Sustainability Accelerator Program

Launched in 2023 in collaboration with the IKEA Foundation and Visa Foundation, the Greenr Sustainability Accelerator Program aims to unlock the potential of over 350 green SGBs across various sectors such as waste management, textiles, food & agriculture, clean tech, renewable energy, green construction, and feminine hygiene. By providing capacity-building, business-acceleration support, access to finance, and facilitating market linkages, the program addresses the critical barriers faced by green startups, enabling them to scale their operations and amplify their environmental impact.

How GreenTech Connect Innovates Sustainability

Building on the success of initiatives like Startupbootcamp, GreenTech Connect serves as a dedicated acceleration platform that unites sustainability startups with corporate partners and investors. This innovative approach leverages proven mentorship and investment strategies to offer startups direct access to a global network of mentors and corporate entities. By fostering collaboration between disruptive technologies and established industries, GreenTech Connect ensures that new green technologies align with market needs and industry standards, thereby enhancing their viability and scalability.

Key Components and Support Offered

The Greenr Sustainability Accelerator provides a comprehensive support system tailored to the unique needs of green SGBs:

Mentorship and Business Advisory: Dedicated business advisors assist entrepreneurs in developing and executing robust business plans, ensuring strategic growth and operational efficiency.
Access to Funding: Collaboration with over 50 partner investors facilitates easy access to financing, enabling startups to secure the capital required for expansion and innovation.
Market Linkages: Support in accessing new customer segments and international markets helps businesses build relevant networks, driving value and revenue growth.
Capacity Building: Partnerships with institutions like the Indian Business School offer training in finance, sales, and marketing, equipping entrepreneurs with essential business skills.
Networking Opportunities: Events and workshops foster an ecosystem of like-minded entrepreneurs, industry experts, and potential investors, promoting collaboration and shared learning.

Success Stories and Results

Since its inception, the Greenr Sustainability Accelerator has made significant strides in fostering green SGBs in India. The first cohort, launched in June 2023, included 130 startups from 53 cities, with a majority (54%) being women-led businesses. These startups have collectively secured $5 million in financing, enabling them to scale their operations and enhance their environmental impact. Initiatives like recycleX, which repurposes plastic waste into eco-friendly bricks and paver blocks, exemplify the tangible benefits of the program, showcasing how green innovations can contribute to both economic and ecological sustainability.

Future Impact and Goals

Looking ahead, the Greenr Sustainability Accelerator aims to support over 350 green startups, targeting a greater than 30% increase in revenue and a 20% growth in jobs for participating SGBs. By completing comprehensive training programs in business and management skills, more than 90% of the supported SGBs are expected to develop robust business plans. Additionally, the program seeks to enhance networks, influence the sustainability ecosystem, and establish a dynamic platform that contributes to long-term sustainable development. Through strategic focus on industries poised for sustainable innovation, Greenr is positioned to drive significant progress in India’s green economy.

Conclusion

The Greenr Sustainability Accelerator Program by TechnoServe is a beacon of hope for green small businesses in India, providing the essential support and resources needed to navigate the complexities of the market and scale their sustainable innovations. By fostering an environment of collaboration, mentorship, and investment, Greenr is not only empowering individual startups but also contributing to a broader movement towards a sustainable and resilient economy.

Join the movement to support and empower green businesses. Learn more and get involved.