XLRI, in association with a Bangalore-based firm, is all set to power the dreams of aspiring entrepreneurs keen to do business in the solar energy sector.
Selco (Solar Electric Light Company), India — an energy services and solution provider — has joined hands with Fr Arrupe Center for Ecology and Sustainability, XLRI, to offer mentoring and operational support to solar energy entrepreneurs of Jharkhand and Bihar for setting up start-ups.
Over the past 17 years, Selco has been successful in offering customised solar energy solutions to light up homes of the poor with the help of doorstep financing through regional rural banks or co-operative societies. Independent entrepreneurs, who want to emulate the model, will get management guidance for over a year to launch the venture in their local region. The company’s incubation centre will help them out.
“Anyone who has a clear concept of start-ups concerning solar energy or has done some groundwork can apply for the incubation process. A workshop was held at XLRI to throw light on the entire process,” said Madhukar Shukla, chairperson, Fr Arrupe Center for Ecology & Sustainability, XLRI.
For a start-up venture in the solar energy sector, Selco Incubation Centre will acquaint the interested person/entity with the 12-month incubation process, which includes about 15 to 45 days of class and hands-on training and assistance in setting up operations, end-user financing and training local financial institutions.
“Decentralised energy solutions need a decentralised institution to operate successfully. Hence, we launched the incubator in July to serve individual entities offering renewable energy services across the country. We want more and more entrepreneurs to come up and set up businesses in regions grappling with power problems,” said Ashis Sahu, CEO, Selco Incubation Centre.
The incubation programme, which aims to churn out 10 medium-scale and 20 small-scale enterprises per year, is not a profit entity of Selco.
The Fr Arrupe Center for Ecology & Sustainability — a multi-disciplinary centre — was launched at XLRI in January this year to promote policies, practices and dialogue that have an impact on holistic and sustainable development of the society and enterprises.