Catalysts for Change: Revolutionizing Climate-Tech Startups

The Department for Promotion of Industry and Internal Trade has partnered with the Global Energy Alliance for People and Planet to boost climate-tech startups through funding and mentorship, launching the Energy Transitions Innovation Challenge offering substantial rewards. Further investment support will be provided by Spectrum Impact and Avana Capital.

The Department for Promotion of Industry and Internal Trade has entered into a strategic agreement with the Global Energy Alliance for People and Planet. This MoU aims to foster the growth of early-stage climate-tech startups by providing them access to crucial funding and mentorship opportunities, officials announced on Saturday.

Under the terms of the agreement, the alliance will introduce the Energy Transitions Innovation Challenge (ENTICE), a competitive platform with rewards of up to USD 500,000 for impactful climate-tech solutions. This initiative underscores a significant commitment to propelling innovation in the clean energy sector.

Additional investment support will be offered by partners such as Spectrum Impact and Avana Capital, ensuring a robust foundation for emerging ventures. Sanjiv, the department's Joint Secretary, emphasized that this collaboration is pivotal in advancing technologies aligned with India's net-zero goals.

(With inputs from agencies.)