Vedanta Spark ties up with CII’s Centre of Excellence for Innovation, Entrepreneurship & Startups promoting start-ups
The program aims to engage with 100
unique start-ups for technology-based innovations.
June 29th, 2023: Vedanta Limited, a globally diversified natural resources conglomerate, announced its partnership with the Confederation of Indian Industry’s Centre of Excellence for Innovation, Entrepreneurship, and Startups (CII CIES) for their global corporate innovation, accelerator & ventures program, Vedanta Spark.
The program aims to accelerate start-ups utilizing transformative & sustainable technologies to create large-scale impact in partnership with the Vedanta group companies and has already engaged 80 start-ups for more than 120 projects so far. CII CIES will play a significant role in identifying and evaluating the start-ups, thereby helping drive the success of Vedanta Spark to newer heights.
Ms. Priya Agarwal Hebbar, Chairperson, Hindustan Zinc Limited & Non-Executive Director, Vedanta Limited, said, “Vedanta’s engagement with CII CIES will further enable innovative startups to demonstrate & develop their products in our unique ecosystem. Vedanta Spark looks forward to bringing in value delivery across our operations with the goal of utilizing emerging technologies to find solutions that will contribute to long-term environmental, social, and economic sustainability.”
The program will employ a comprehensive selection process to identify the top start-ups through rigorous screening and evaluation methods. Spark aims to engage with a total of 100 unique start-ups that harness the power of innovation to solve complex business problems.
"As the implementing partner for Vedanta Spark, CII CIES is thrilled to collaborate with Vedanta in this groundbreaking initiative," said Mr. Kris Gopalakrishnan, Chairman CII CIES and Co-founder, of Infosys. "We firmly believe that the convergence of large corporations and start-ups creates an unparalleled opportunity for disruptive innovation and sustainable growth. This program will empower start-ups to realize their potential while addressing key challenges in various industries."
The MoU was exchanged between Mr. Varun Akhnoor - Director, CII Centre of Excellence for Innovation, Entrepreneurship and Start-ups, and Mr. Arun Misra, CEO – of Hindustan Zinc Ltd. & Digital Anchor, Vedanta Ltd.
Earlier
this month, Vedanta Spark also announced its collaboration with MeitY and
Nasscom’s CoE for the adoption of digital technology-led innovations.
About CII CIES
The Confederation of
Indian Industry, Centre for Innovation,
Entrepreneurship, and Startups (CII CIES) is a leading institution fostering
innovation, entrepreneurship, and start-up growth in India. CII CIES promotes
the development of a vibrant start-up ecosystem by facilitating collaborations,
providing mentorship, and advocating for conducive policies.
About Corporate
Accelerator Programme - CII
CIES runs the corporate accelerator program for enterprises that want to
leverage startup innovation. At the end of the programme, all startups taking part
in the programme will present their MVP (minimal viable product) on demo day,
with the goal of securing a contract with the participating corporate
About Vedanta Limited
Vedanta Limited
(“Vedanta”), a subsidiary of Vedanta Resources Limited, is one of the world’s
leading natural resources companies spanning across India, South Africa,
Namibia, Liberia, UAE, Korea, Taiwan and Japan with significant operations in
Oil & Gas, Zinc, Lead, Silver, Copper, Iron Ore, Steel, Nickel, Aluminium,
Power & Glass Substrate. For two decades, Vedanta has been contributing
significantly to nation building. Governance and sustainable development are at
the core of Vedanta's strategy, with a strong focus on health, safety, and
environment. Vedanta has put in place a comprehensive framework to be the
ESG leader in the natural resources sector, is committed to reducing carbon
emissions to net zero by 2050 or sooner and aims to spend $5 billion over the
next 10 years to accelerate this transition. Giving back is in the DNA of
Vedanta, which is focused on enhancing the lives of local communities. Anil
Agarwal Foundation, the umbrella entity for Vedanta’s social initiatives, has
pledged Rs 5000 crore over the next five years on various social impact
programs and its flagship project, Nand Ghar is setting up model anganwadis
across India. Vedanta Ltd. has been listed in Dow Jones Sustainability World
Index 2022, conferred Golden Peacock Award for excellence in Corporate
Governance 2022 and certified as a Great Place to Work 2023. Vedanta Limited is
listed on the Bombay Stock Exchange and the National Stock Exchange.
For more information,
please visit www.vedantalimited.com.
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