Avaana partners with Start-up India to launch Grand Challenge for ClimateTech Innovation for startups

Avaana Climate and Sustainability Fund has partnerd with with Start-up India, has announced the 'Grand Challenge for ClimateTech Innovation.' 

According to firm's statement, The launch is aims to support entrepreneurs who are developing solutions for a net-zero transition. It focuses on seven key themes, including Energy Transition, Sustainable Agriculture, Industrial Decarbonization, and others. The objective is to foster groundbreaking technologies that address environmental challenges on a global scale.

India's goal towards reaching net zero emissions

India, which is committed to combating climate change, aims to reach net zero emissions by 2070 as part of its 'Panchamrit' strategy. The country's startup ecosystem, now the third-largest globally, will be a critical player in driving sustainable and green innovations. 

Start-up India, a flagship government initiative, has been instrumental in nurturing this ecosystem since its inception in 2016. Avaana Capital, managing India's largest climate-tech VC fund, invests in technology-led innovations across various sectors including energy, mobility, and agriculture.

Eligibility and application details

The challenge is open to startups with a valid DPIIT registration, focusing on solutions with direct climate impact. Applications are accepted until 30th December 2023. Interested startups can apply through a specified application process.

The winners will receive monetary rewards, mentorship, and exposure to influential stakeholders. A distinguished panel comprising corporates, think tanks, and academic institutions will evaluate the applications.

Who is supporting this challenge?

The challenge has garnered support from notable organizations like NITI Aayog, Atal Innovation Mission, The Global Energy Alliance, Rocky Mountain Institute India Foundation, Nestle, and Tata Power. These partnerships underscore the collaborative effort towards fostering a sustainable future.

This initiative marks a significant step in harnessing India's innovative potential to address global environmental challenges. By providing a platform for startups, the challenge aims to catalyze solutions that balance ecological and economic needs, shaping the path to a net-zero future. 

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