Panasonic Life Solutions India (PLSIND) and Panasonic Corporation (PC) in collaboration with a leading seed stage venture capital (VC) - 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 startups that are creating innovative solutions in the field of Energy Management for commercial spaces.
A total of over 140 startups applied for the program that was launched earlier this year in October 2023 under the guidance of Mr. Kunio Gohara, the Chief Transformation Officer of Panasonic Corporation. After a robust evaluation process, 12 startups were shortlisted. These startups 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 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 startups and based on regular reviews. The final winner will be announced in March 2024.
"We are thrilled to launch the ‘Panasonic Ignition’ program in collaboration with 100X.VC, marking a pivotal moment in driving innovation within the energy management sector," said Mr. Manish Misra, the Chief Innovation Officer, at Panasonic Life Solutions India. "This initiative underscores our commitment to fostering groundbreaking technologies and solutions that address the evolving needs of commercial spaces while contributing to a sustainable future."
"It has been a rewarding experience working closely with the Panasonic Corporation teams, from both Japan and India. Due to joint efforts by both the teams, in a very short span of time, we were able to attract so many applications from high quality startups. We look forward to working with the shortlisted startups and contribute to their journey over the next 12-14 weeks" said Mr. Yagnesh Sanghrajka, Founder and CFO at 100X.VC.
Following is the list of the 12 promising startups:
- SustLabs - Develops consumer IoT solutions for home energy monitoring.
- MinionLabs - Develop a product for measuring individual energy consumption in buildings.
- Clairco - Develops IoT-based smart air purification devices & space optimization.
- Enlite - Provides an AI-enabled wireless building management system
- Zodhya - Provider of energy optimization solutions for commercial spaces
- Living Things - Provider of a smart control hub for air conditioners
- Sensiable - Provider of an IoT-enabled workplace space management solution
- Carbon Minus - Provider of cloud-based solutions for energy plant management
- Nebeskie - Provider of a SaaS, AI & IoT-powered electricity management platform.
- Quebeq Venture - Integrates a Virtual Power Plant with proprietary energy solutions
- Blaze - Provider of IoT Gateway energy monitoring, and smart control system.
- 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 (IIC), part of Panasonic Life Solutions India (PLSIND) to create a platform in collaboration with 100X.VC, where selected young founders of emerging startups, will receive investment, access to various masterclasses, expert mentorship, and support around product strategy and growth that would assist them towards building innovative technologies and products while solving real-life challenges related to energy management in spatial infrastructures.
About Panasonic Group
A global leader in developing innovative technologies and solutions for wide-ranging applications in the consumer electronics, housing, automotive, industry, communications, and energy sectors worldwide, the Panasonic Group switched to an operating company system on April 1, 2022, with Panasonic Holdings Corporation serving as a holding company and eight companies positioned under its umbrella. Founded in 1918, the Group is committed to enhancing the well-being of people and society and conducts its businesses based on founding principles applied to generate new value and offer sustainable solutions for today’s world. The Group reported consolidated net sales of around 8,500 billion yen for the year ended March 31, 2023. Panasonic Life Solutions India (PLSIND) is a subsidiary of Panasonic Holding Corporation (PHD). To learn more about the PLSIND, please visit: https://www.panasonic.com/in/
About 100X.VC:
100X.VC is India's first SEBI Registered CAT-1 VC fund, which invests in early-stage startups through ISAFE Notes. Since its launch in July 2019, 100X.VC has invested in 145 startups and mentored them to enable them to further raise $75 mn. The CVC/CI arm of 100X.VC works closely with corporates and helps them in making strategic investments/ acquisitions in new disruptive ideas of early-stage startups that can add long-term value to the corporates and all its stakeholders. To learn more about 100X, please visit: https://100x.vc
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