India’s climate tech ecosystem in dire need of both early, growth-stage funding: Report

By Our Representative

India’s climate tech ecosystem, which boasts over 800 startups, is in dire need of both early and growth-stage funding to leverage its full potential, according to a report by Indian Institute of Management-Ahmedabad (Ventures) and MUFG Bank, Japan. Despite a robust initial funding landscape, with approximately two-thirds of climate tech startups receiving seed capital, growth-stage investments remain critically lacking.

The report highlights that a mere 2.5% of these startups have successfully raised Series A+ funding, primarily within the electric mobility sector. While more than 80% of these startups focus on emission reduction solutions, offerings aimed at enhancing resilience to climate change are considerably limited. It emphasizes that the challenge of securing growth-stage capital is a significant barrier for these companies as they strive to scale their innovations and maximize their impact.

The report outlines sector concentration within the climate tech space: transport and mobility segments dominate, with over 350 startups capturing nearly 85% of total climate tech funding. In contrast, other critical areas like Industrial Decarbonization, Waste Management, and Alternative Fuels remain underfunded despite their substantial potential in combating climate change.

Future prospects

The analysis identifies promising areas for innovation and growth, including decarbonization technologies, waste-to-value initiatives, and alternative fuels like biofuels and hydrogen. Published on September 20, 2024, the report titled “Innovation for Impact: Indian Startups Driving Climate Action” was launched at the Climate Action Summit—Building in India, for the World. It offers a comprehensive look at India's rapidly evolving climate tech sector and the essential role that startups play in tackling climate issues.

A call for support

As the seventh most vulnerable nation to climate change, India stands at a crossroads of challenges and opportunities within its climate tech landscape. The report underlines the urgent need for not only enhanced financial backing but also supportive policies that can enable startups to thrive.

Chintan Antani of IIMA Ventures stated, “The $3.6 billion raised by startups over the past decade underscores the substantial potential of this sector and the crucial need for increased support to help scale innovative solutions. Since 2012, IIMA Ventures has championed climate action, assisting over 100 startups and bridging knowledge gaps to foster collective efforts.”

The report also highlights five transformative areas projected to reshape India's climate tech innovation: carbon capture technologies, waste-to-value solutions, growing alternative fuels, and the urgent necessity for innovative financial strategies to address a projected $1 trillion climate finance gap over the next decade.

Engagement at the summit

The Climate Action Summit drew a diverse group of stakeholders, including investors, entrepreneurs, corporate leaders, and sustainability experts. Prominent figures from sustainability sectors engaged in discussions about collaborative opportunities to advance climate tech solutions.

Takuya Senoo from MUFG emphasized the importance of climate finance for achieving India’s net-zero goals: “It is imperative that we help climate tech startups scale up. By investing strategically, we can foster sustainable growth and resilience for all.”

The Climate Action Summit has served as a pivotal platform for advancing growth and innovation within India’s climate tech ecosystem. Both IIMA Ventures and MUFG are committed to fostering this growth through the India Climate Tech Initiative, a program designed to support startups in navigating climate-related challenges.

Comments

Anonymous said…

nice

October 01, 2024

Loktantra Bachao Abhiyan raises concerns over Jharkhand Adivasis' plight in Assam, BJP policies

By Our Representative The Loktantra Bachao Abhiyan (Save Democracy Campaign) has issued a pressing call to protect Adivasi rights in Jharkhand, highlighting serious concerns over the treatment of Jharkhandi Adivasis in Assam. During a press conference in Ranchi on November 9, representatives from Assam, Chhattisgarh, and Madhya Pradesh criticized the current approach of BJP-led governments in these states, arguing it has exacerbated Adivasi struggles for rights, land, and cultural preservation.

Promoting love or instilling hate and fear: Why is RSS seeking a meeting with Rahul Gandhi?

By Ram Puniyani* India's anti-colonial struggle was marked by a diverse range of social movements, one of the most significant being Hindu-Muslim unity and the emergence of a unified Indian identity among people of all religions. The nationalist, anti-colonial movement championed this unity, best embodied by Mahatma Gandhi, who ultimately gave his life for this cause. Gandhi once wrote, “The union that we want is not a patched-up thing but a union of hearts... Swaraj (self-rule) for India must be an impossible dream without an indissoluble union between the Hindus and Muslims of India. It must not be a mere truce... It must be a partnership between equals, each respecting the religion of the other.”

Right-arm fast bowler who helped West Indies shape arguably greatest Test team in cricket history

By Harsh Thakor* Malcolm Marshall redefined what it meant to be a right-arm fast bowler, challenging the traditional laws of biomechanics with his unique skill. As we remember his 25th death anniversary on November 4th, we reflect on the legacy he left behind after his untimely death from colon cancer. For a significant part of his career, Marshall was considered one of the fastest and most formidable bowlers in the world, helping to shape the West Indies into arguably the greatest Test team in cricket history.

Swami Vivekananda's views on caste and sexuality were 'painfully' regressive

By Bhaskar Sur* Swami Vivekananda now belongs more to the modern Hindu mythology than reality. It makes a daunting job to discover the real human being who knew unemployment, humiliation of losing a teaching job for 'incompetence', longed in vain for the bliss of a happy conjugal life only to suffer the consequent frustration.

A Hindu alternative to Valentine's Day? 'Shiv-Parvati was first love marriage in Universe'

By Rajiv Shah The other day, I was searching on Google a quote on Maha Shivratri which I wanted to send to someone, a confirmed Shiv Bhakt, quite close to me -- with an underlying message to act positively instead of being negative. On top of the search, I chanced upon an article in, imagine!, a Nashik Corporation site which offered me something very unusual.

Andhra team joins Gandhians to protest against 'bulldozer action' in Varanasi

By Rosamma Thomas* November 1 marked the 52nd day of the 100-day relay fast at the satyagraha site of Rajghat in Varanasi, seeking the restoration of the 12 acres of land to the Sarva Seva Sangh, the Gandhian organization that was evicted from the banks of the river. Twelve buildings were demolished as the site was abruptly taken over by the government after “bulldozer” action in August 2023, even as the matter was pending in court.

Will Bangladesh go Egypt way, where military ruler is in power for a decade?

By Vijay Prashad* The day after former Bangladeshi Prime Minister Sheikh Hasina left Dhaka, I was on the phone with a friend who had spent some time on the streets that day. He told me about the atmosphere in Dhaka, how people with little previous political experience had joined in the large protests alongside the students—who seemed to be leading the agitation. I asked him about the political infrastructure of the students and about their political orientation. He said that the protests seemed well-organized and that the students had escalated their demands from an end to certain quotas for government jobs to an end to the government of Sheikh Hasina. Even hours before she left the country, it did not seem that this would be the outcome.

Will Left victory in Sri Lanka deliver economic sovereignty plan, go beyond 'tired' IMF agenda?

By Atul Chandra, Vijay Prashad* On September 22, 2024, the Sri Lankan election authority announced that Anura Kumara Dissanayake of the Janatha Vimukthi Peramuna (JVP)-led National People’s Power (NPP) alliance won the presidential election. Dissanayake, who has been the leader of the left-wing JVP since 2014, defeated 37 other candidates, including the incumbent president Ranil Wickremesinghe of the United National Party (UNP) and his closest challenger Sajith Premadasa of the Samagi Jana Balawegaya.

Green Revolution’s reliance on chemical fertilizers, pesticides contributing to Punjab's health crisis

By Bharat Dogra, Jagmohan Singh* Punjab was once synonymous with robust health, particularly in its rural areas, where farmers were known for their strength and vitality. However, in recent years, reports from these villages tell a different story, with rising cases of serious health issues, including cancer. What led to this decline? The answer lies largely in the erosion of good nutrition, once a hallmark of Punjabi village life. The health of a population is closely tied to its nutrition, and Punjab's reputation as a provider of high-quality nutrition has suffered greatly. The loss of biodiversity in agriculture has led to a decrease in the variety and quality of crops, resulting in poorer nutrition. Pulses, a key source of protein, have seen a steep decline in cultivation due to the disruption of traditional farming practices by the Green Revolution. This has had a detrimental effect on both soil and human health. Although pulses are still available in the market, they are exp

Tributes paid to pioneer of Naxalism in Punjab, who 'dodged' police for 60 yrs

By Harsh Thakor* Jagjit Singh Sohal, known as Comrade Sharma, a pioneer of Naxalism in Punjab, passed away on October 20 at the age of 96. Committed to the Naxalite cause and a prominent Maoist leader, Sohal, who succeeded Charu Majumdar, played hide and seek with the police for almost six decades. He was cremated in Patiala.

Search This Blog