Climatetech

Avaana Climate Fund and Start-up India Unveil ‘Grand Challenge for ClimateTech Innovation’ to Drive Sustainable Solutions

• ByStartupStory     |    December 4, 2023

In a groundbreaking move towards fostering innovation in the climate technology space, Avaana Climate and Sustainability Fund, an early-stage venture capital firm specializing in disruptive climate-focused start-ups, has partnered with Start-up India to introduce the ‘Grand Challenge for ClimateTech Innovation.’ This initiative aims to identify and support visionary entrepreneurs developing cutting-edge solutions that will play a pivotal role in facilitating India and the global community in achieving a seamless transition to net-zero.

The challenge invites applications in seven key themes, each addressing critical aspects of the climate crisis. These themes include Energy Transition and Mobility, Sustainable Food and Agriculture Systems, Industrial Decarbonization and Built Environment, Circular Economy, Climate Finance, Carbon Capture, Removal and Storage, and Climate Data and Reporting.

Aastha Grover, Vice President of Start-up India, expressed the significance of such initiatives in the current global landscape. She stated, “In the era of a global shift towards sustainability and clean technologies, initiatives like the ClimateTech Innovation program provide an ideal platform for emerging entrepreneurs and start-ups to display their innovative solutions.” Grover envisions these startups as pioneers poised to assume leadership roles in groundbreaking technologies that effectively address environmental challenges. She encourages startups to seize this opportunity and leverage it to make a meaningful difference.

Anjali Bansal, Founding Partner of Avaana Capital, emphasized the dedication behind the Grand Challenge for ClimateTech Innovation. “It is aligned with building from India, for India and the world,” Bansal stated. The initiative represents a commitment to supporting visionary startups driving impactful climate solutions.

Eligibility for the challenge is limited to start-ups with DPIIT registration. Winners not only stand to receive monetary prizes but also gain access to invaluable mentorship from industry leaders and exposure to opportunities with influential stakeholders.

The jury responsible for shortlisting applications is composed of esteemed professionals across the ecosystem. This distinguished panel includes sustainability champion corporates, research think tanks, academic institutions, and other key players, ensuring a comprehensive and insightful evaluation process.

Applications for the ‘Grand Challenge for ClimateTech Innovation’ are open until December 30, 2023.

The initiative has garnered support from various organizations, including NITI Aayog and Atal Innovation Mission (AIM), The Global Energy Alliance for People and Planet (GEAPP), Rocky Mountain Institute (RMI) India Foundation, Nestle, Tata Power, among others. These partnerships underline the collaborative effort to address climate challenges and drive sustainable innovation on a global scale.

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