Grand Challenge for ClimateTech Innovation
Introduction
Climate change presents substantial economic and societal risks across the globe, affecting energy, food security, water availability, public health, and socioeconomic stability. The Intergovernmental Panel on Climate Change (IPCC) has outlined pathways to achieve net zero emissions, limiting global warming to 1.5°C. India, committed to combating climate change, announced the ‘Panchamrit’ strategy at COP26, targeting net zero by 2070.
Large-scale innovation is crucial for India’s sustainable growth, and the thriving startup ecosystem can play a pivotal role. The ‘Grand Challenge for ClimateTech Innovation,’ led by Startup India in collaboration with Avaana Capital, seeks to identify and support entrepreneurs developing solutions for the transition to net zero.
About the Challenge
The challenge, a joint initiative of Startup India and Avaana Capital, aims to empower entrepreneurs creating world-class solutions for India’s journey to net zero. Startup India, a flagship initiative of the Government of India, fosters a startup culture to build a robust ecosystem for innovation and entrepreneurship. Avaana Capital, an early-stage venture capital firm, manages India’s first climate-tech VC fund, Avaana Climate and Sustainability Fund.
Program Details
Detailed Eligibility Criteria:
- Startups must have a valid DPIIT registration.
- Only startups working on solutions with a direct climate impact will be considered.
Relevant Stakeholder:
- Ideation Stage Startup
- Validation Stage Startup
- Early Traction Startup
- Scaling Stage Startup
Relevant Industry:
- Analytics
- Automotive
- Chemicals
- Computer Vision
- Construction
- Agriculture
- Aeronautics
- Aerospace & Defence
- AI
- Green Technology
Themes for Challenges:
- Energy Transition and Mobility
- Sustainable Food and Agriculture Systems
- Industrial Decarbonisation and Built Environment
- Circular Economy and Waste Management
- Climate Finance
- Carbon Capture, Removal, and Storage
- Climate Data and Reporting
Problem Statement:
- Energy Transition and Mobility
- Sustainable Food and Agriculture Systems
- Industrial Decarbonisation and Built Environment
- Circular Economy
- Climate Finance
- Carbon Capture, Removal, and Storage
- Climate Data and Reporting
Incentives:
- Fiscal Incentives: Challenge winners will receive awards in the form of grants.
- Non-Fiscal Incentives: Challenge winners will receive mentorship from the Avaana team and exposure to leading corporates, foundations, investors, policy makers, and thought leaders.
Procedure Post Submission: Upon submission, participants will undergo a screening process, followed by evaluation by a jury of thematic experts. Short-listed candidates will present their solutions to a super-jury.
Contact the Host:
- Organization Name: Avaana Capital
- Person in Charge: Avaana Capital
- Designation: Venture Capital
- Support Email ID: [email protected]
- Email of Recipient: [email protected]
Timeline: 1 DEC, 2023
Application Start Date: 3 FEB, 2024
Application End Date: 10 FEB, 2024
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