The Indian startup ecosystem is showing growing interest in innovations related to climate action and sustainable development. Ideas range from affordable technological solutions for small, medium, and micro enterprises (SMEs) developed by students, to early-stage projects addressing circular economy challenges. However, transforming a climate idea into a scalable business requires not only enthusiasm but also access to capital, industry networks, and structured mentorship.
Recognizing existing gaps, Satin Group, based in Gurugram, Haryana, launched the Sankalp platform this September. This platform is designed to support and nurture ideas focused on sustainability, from students to early-stage entrepreneurs. In an exclusive interview with YourStory, Prabodh Marar, CEO of Satin FinServ Limited, discussed the initiative's concept, the importance of non-financial support alongside funding, and the role of financial institutions in scaling climate innovations.
Sankalp operates through two distinct tracks: business ideas presented by students and early-stage startups. The student track encourages college students to develop technological solutions for environmental and climate problems. The startup track focuses on young companies operating in clean mobility, circular economy, waste management, and sustainable supply chains. Sankalp winners can compete for a prize of 32 lakh rupees, with 10 lakh allocated for students and 22 lakh for startups.
Applications for the first cohort closed on October 4th. Sankalp reported that the response was encouraging, with over 17,000 applications registered and more than 1,000 teams participating. Student innovators showed significant interest in technological solutions for climate challenges.
Marar noted: 'We were pleasantly surprised by the strong focus among students on creating technological solutions in the climate space.' He has over twenty years of experience in banking, microfinance, and sustainability-focused entrepreneurship. Having experienced firsthand during his early career the difficulties entrepreneurs face in securing initial funding, especially those from service or salaried backgrounds without access to financial support, he understands these hurdles well.
Marar recalled: 'Startups weren't a fashionable term back then; it wasn't even a term. I come from a middle-class family in services. There was a lot of moral support, but no financial. That's when I realized how difficult it was to get seed capital.' He emphasized that while founders may possess passion and acumen to develop an idea, scaling it requires a broader support system. Capital is just one component; access to expertise, networks, and institutional support can be equally vital.
'Most startup founders are deeply committed to their ideas and have the ability to scale them. But scaling requires many elements beyond capital. That's why we launched Sankalp—to help build an ecosystem around climate and sustainable innovations,' stated Marar.
Founded in 1990, Satin Group comprises three Non-Banking Financial Companies (NBFCs) specializing in microfinance, housing finance, as well as lending to corporate clients and SMEs. Its broader ecosystem also includes Satin Growth Alternatives, a debt instrument fund, and Satin Technologies, its technology division. This combination of financial and technological capabilities provides the group with multiple avenues to support developing, sustainability-oriented enterprises.
While university incubators play a crucial role in nurturing early ideas, Sankalp aims to go beyond this, helping entrepreneurs bridge the gap between concept development and market readiness. Marar clarified: 'I wouldn't call it a scaled-down version because we are genuinely trying to move beyond the traditional incubation model. We want to understand if we can support founders through expert mentorship, both individually and institutionally, as well as through debt and equity.'
Following the closure of applications, Sankalp moved from a broad pool of ideas to a more rigorous evaluation process. KPMG serves as the program assessment partner. The firm independently evaluates each application using a predefined system, assisting in the selection and identification of the most promising ventures. Satin asserts that this ensures objective selection based purely on merit.
Thirty teams advanced to a virtual jury round, where they will present their projects to a panel of practitioners managing venture capital (VC) funds and lenders. The selected ventures cover climate technology, circular economy, clean energy, smart cities, waste management, water usage, and sustainable agriculture.
According to Satin, what attracted attention was not only the diversity of ideas but also the depth demonstrated by applicants in their chosen fields. Judges will assess the strength of the idea, innovation, feasibility, scalability, and potential for significant impact.
Based on the jury evaluations, finalists will proceed to an in-person Grand Finale, where they will present before a panel of industry leaders and judges for final assessment and recognition. The jury rounds are also intended to unlock opportunities beyond monetary prizes. Representatives from venture capital firms, incubators, and institutional investors will be present in both the virtual and Grand Finale to evaluate ideas and explore funding possibilities. Furthermore, Satin has entered into official agreements with several incubators to provide institutional mentorship to selected founders. Satin Growth Alternatives, the group's Category II Alternative Investment Fund (AIF), will also review ideas from an investment perspective.
Satin approaches financing cautiously. At this stage, the company states that Sankalp is not a declared debt or equity program. Any financing will be considered on a case-by-case basis, depending on the business model, stage of development, funding needs, and suitability, aiming to find viable opportunities and explore ways to support their growth.
For Satin, the program aligns with its broader ambitions of building a more sustainable and climate-resilient economy. Financing remains central to the business, but Sankalp allows it to engage with new innovators and understand how climate-focused business models are evolving, as well as the opportunities and challenges in this sector. The program also helps Satin identify solutions that may align with its own financial capacity over time.
The group has been working in this area. Satin Finserv created the Sustainable and Emerging Business (SEB) vertical in August 2025 to provide financing to sustainability-oriented and emerging enterprises with a simplified process and dedicated relationship support. Over the last 12 months, it has provided loans worth approximately 400 crore rupees to businesses focused on sustainable development, both users and suppliers of sustainable solutions. Sankalp complements these efforts by helping discover promising entrepreneurs and innovations.
India's transition to a low-carbon economy will require more than just technological breakthroughs. It will also depend on the ability of promising innovations to secure funding, find customers, and scale sustainably. Financial institutions, established businesses, and entrepreneurs all play a role in building this ecosystem. Sankalp aims to bring these stakeholders together, combining access to finance with mentorship and industry connections. This approach reflects the idea that supporting climate innovation must go beyond simply funding a promising idea or awarding a one-time prize.
Marar concluded: 'Instead of just waiting for institutions to release their money, can financial institutions unite to create a platform that helps founders go beyond just raising capital?' By aiming to connect entrepreneurs with funding, expertise, and potential commercial partners, Sankalp seeks to establish a long-term support system for sustainability-focused enterprises.
