iPhone maker Apple partners with Acumen to bolster clean energy innovation and social enterprises in India

The partnership will focus on The Energy for Livelihoods Accelerator, a 12-week program curated by Acumen experts to help social entrepreneurs refine their businesses, cater to those living in poverty, and uphold environmental sustainability.

Jaya Vishwakarma

14 Jul 2023 21:09 IST

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US-based technology giant Apple has partnered with Acumen, a non-profit impact investor, in a bid to uplift social enterprises and foster clean energy innovation in India.

According to the company's statement, The partnership will focus on The Energy for Livelihoods Accelerator, a 12-week program curated by Acumen experts to help social entrepreneurs refine their businesses, cater to those living in poverty, and uphold environmental sustainability.

The company said applications for this program, set to commence in September this year, are currently open until July 24. It primarily invites leaders from social enterprises striving to augment sustainable energy solutions for small businesses and farmers across India.

Upon joining the program, participants will gain an inclusive network of peers, facilitators, and mentors. Subsequent to the program, they will become part of Acumen Academy's global community, The Foundry. Additionally, they will have the chance to receive technical assistance and early-stage investment from Acumen’s Pioneer Energy Investment Initiative (PEII+).

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“Apple is committed to helping ensure everyone can share in the benefits of a greener economy,” said Sarah Chandler, Apple’s vice president of Environment and Supply Chain Innovation. “We’re demonstrating the transformative potential of clean energy in everything we do, and excited to support social innovators who share that goal.”

“For over 20 years, Acumen has invested in early-stage social enterprises addressing problems of poverty in India, and some of our most innovative recent investments have been at the intersection of energy access and livelihoods,” said Mahesh Yagnaraman, Acumen’s director of India. “We are excited to partner with Apple to continue building an ecosystem of scalable social businesses in India committed to improving livelihoods using sustainable energy.”

In India, alongside its partnership with Acumen, Apple is also teaming up with Frank Water to enhance access to safe drinking water, sanitation, and hygiene, as well as with the Applied Environmental Research Foundation (AERF) to conserve mangroves along the country's west coast.

Apple's strategic focus lies on its ambitious Apple 2030 goal, aiming to achieve carbon neutrality across all its products. To support this target, over 250 global manufacturing partners, which include 12 in India, have pledged to utilise 100 percent renewable energy for all Apple production by 2030.

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