An Indian startup from IIT Mandi won 3rd price at Schneider Electric Asia Pacific Region Startup Pitch held in Singapore. They introduces a solution for the Solar Companies to analyze site remotely through video and also make optimized plans for the plant. This AI based startup can help companies in reducing time in designing the optimized plant for maximized energy that will in return gives top line revenue.
The Solar Labs was incubated at IIT Mandi Catalyst and NASSCOM 10k Startups.
IIT Mandi Catalyst is the first Technology Business Incubator or TBI in the state of Himachal Pradesh.
Companies doing OPEX installations can get a higher ROI or Return on Investment on their installed systems due to better designed systems, said the statement.
“The award contributes to market validation for The Solar Labs Team at an international level. We wish the team best in forging international collaborations and partnerships that would benefit them,” said Dr. Puran Singh, Faculty In-charge, IIT Mandi Catalyst.
The Solar Labs Startup was founded by IIT Mandi students who rejected high paying jobs and started the company together. The company started off based on multiple internships done by Mr. Siddharth in the solar industry. He assessed how industries functioned with overly manual processes and very little use of technology apart from solar panels and inverters itself besides complex software.
Speaking about Solar Labs, its Founder and CEO, Mr. SiddharthGangal said, “At IITs, we learn about the latest technology and implementations. I saw how the latest research in Computer Vision and Artificial Intelligence could be applied to ease processes in the solar industry, which are overly manual and un-optimized.”