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Zypp Electric, Venture Catalysts launches EVolveS1, EV innovative challenge for startups

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Electric vehicles (EV) logistics tech delivery startup Zypp Electric has announced that it has partnered with the early-stage incubator Venture Catalysts to support burgeoning EV startups by organizing an innovative challenge programme named Zypp EVolveS1.

Zypp Electric stated it will support all startups working in different fields such as electric vehicle manufacturing, logistics, drones, autonomous vehicles, batteries, BMS, EV service and maintenance, motors, controller, technology/AI/ML/IoT/analytics, and charging infrastructure.

As per the media release, startups under this drive will get a chance to present to Venture Catalysts and get funding of up to $200K by Venture Catalysts and Zypp Electric. They will get committed business scale-up opportunities with Zypp of orders up to Rs. 5 crore.

Zypp Electric will provide them with Incubation support, they get to work at Zypp Electric's office free of charge for prototyping and testing for up to three months and Zypp will also provide them mentorship from top industry leaders.

The opening date for applying for this challenge started on October 10 and will close on October 30, 2021.

Akash Gupta, co-founder, and CEO of Zypp Electric, stated, ''This drive is for every individual, company or budding startup who has disruptive and innovative ideas. While we are doing so many things in building the right EV ecosystem at Zypp, this challenge is intended to further bolster our EV mission of a sustainable world."

"We aim to revolutionize the EV and logistics industry together with younger talent. It will not only give recognition to these startups or individuals but will give them exposure and insights from industry leaders and committed business and partnership opportunities of scaling with Zypp," he added.

Apoorva Ranjan Sharma, MD, Venture Catalysts, believed, "Venture Catalysts considers that startups relying on clean energy are going to be the next big thing and hence we support the EV economy. We are extremely bullish on Zypp, our portfolio startup, which is already a leader in the EV segment. This initiative could be a great platform for younger teams, startups, and individuals to get business and funding opportunities via Zypp and Venture Catalysts."

Author : Debi Dash
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