FedEx Express (FedEx), a subsidiary of FedEx Corp. (NYSE: FDX) and one of the world’s largest express transportation companies, has partnered with Social Alpha, a multistage innovation curation and venture development platform for science and technology start-ups, to launch the “FedEx and Social Alpha Accelerator for Sustainable Last-mile Logistics.”
The initiative was launched to find and promote young companies with ground-breaking ideas for improving the quality and user experience of electric bicycles (E-Cycles). Not only can E-Cycles guarantee low carbon emissions and a respectable range for a pittance in running costs, but they are also quite cheap. Mag9 Energies and Accelero Vehicles, two of the many applicants, were chosen as the final cohort because they matched the program’s criteria for sustainability, creativity, and cost. FedEx’s Social Alpha programme will provide participating startups with access to the company’s extensive knowledge and resources in the areas of technology, innovation, and business growth.
FedEx-Social Alpha Accelerator in Sustainable Last-mile Logistics winners
Mag9 is a Mumbai-based firm that creates electric bicycles for use in supply chain management. Their reasonably priced long-range vehicle has a mid-drive gearbox and an integrated electronics architecture in addition to a variety of power modes, payload configurations and customization options.
New Delhi-based startup Accelero produces a portable electric engine called “eBik Smart” that, in only 15 minutes, can transform any regular bicycle into an electric one with a variety of convenient smart features.
Throughout the course of the programme, FedEx and Social Alpha will help the two startups develop community-specific solutions, roll them out at reasonable prices, and grow into other regions sustainably. Their ideas are geared at liberating their clients from tedious tasks, raising their standard of living, and expanding their economic options.
Regarding Social Standing
With the help of entrepreneurship and market-creating innovations, Social Alpha is a multi-stage platform for curating and developing scientific and technological start-ups that aim to solve the world’s most pressing social, economic, and environmental problems.
More than sixty seed investments have been made by Social Alpha since its launch in 2016.
Concerning FedEx Express
Fast and dependable delivery to more than 220 nations and territories makes FedEx Express the biggest express transportation business in the world. FedEx Express employs an international air and land network to ensure on-time delivery of time-sensitive packages.