Avaana Capital and Startup India Conclude Grand Challenge for ClimateTech Innovation

Avaana Capital, in partnership with Startup India, efficiently concluded the Avaana Capital – Startup India Grand Challenge for ClimateTech Innovation on the grand finale occasion held at Vanijya Bhawan. This initiative marks a major milestone in fostering revolutionary options that propel India in direction of a sustainable and inexperienced future.

Grand Challenge for ClimateTech Innovation

The initiative collaborated intently with companions corresponding to Startup India, NITI Aayogs Atal Innovation Mission (AIM), Small Industries Development Bank of India (SIDBI), amongst others. Its main objective was to acknowledge and help revolutionary startups devoted to addressing local weather change challenges, together with mitigation, adaptation, and resilience, thereby contributing to Indias journey in direction of attaining net-zero emissions. Key company supporters, together with business leaders like Tata Power, Nestle, Tata Steel, Lodha, HSBC, SBI, and others, performed a pivotal position in offering important assist to startups concerned within the initiative. The occasion acquired inexperienced seedings from SIDBI, together with the presentation of the keynote handle by the CMD, SIDBI, Shri Sivasubramanian Ramann.

Swapna Gupta, Partner, Avaana Capital and Anjali Bansal , Founding Partner, Avaana Capital

From over 400 purposes acquired spanning throughout six key themes: Energy Transition, Mobility and Supply Chains, Sustainable Agriculture and Food Systems, Circular Economy and Resource Management, Water and Industrial Decarbonisation, and Built Environment and Carbon Capture; the 12 finalists are: Zerocircle, Cancrie, Sangti, CarbonPath, Banofi, MiniMines, Baud Resources, Recyclers and AquaNurch together with high 3 winners that are Greenpod labs, Ambiator and Nexus Power.

The distinguished Grand Jury was chaired by Amitabh Kant, G20 Sherpa, together with Sally Taylor from the UK Government, Chintan Vaishnav (Mission Director, AIM), S Ramann (CMD, SIDBI), Anjali Bansal (Founding Partner, Avaana Climate and Sustainability Fund), Jon Creyts (CEO, RMI), Ravi Chhabria (MD, NetApp India), and Caroline Flammer (A. Barton Hepburn Professor of Economics, Columbia University). Esteemed data companions like GEAPP, RMI, Social Alpha, CEEW and CCAMP have been instrumental within the rigorous analysis course of. The occasion noticed sturdy assist from SUI, with the keynote and awards given by Secretary Sh. Rajesh Singh.

The occasion underscored Low Carbon Pathways and Financing for the Green Transition, that includes business insights. Shri Rajesh Kumar Singh, Secretary, DPIIT and Anjali Bansal, Avaana’s Founding Partner offered the Grand Challenge Awards, recognizing startups innovation. Winners acquired awards as much as 1 crore rupees, with extra grants totaling as much as 2 crores from ACT, and credit from AWS and Google and mentorship from business leaders. The breakdown of awards included 20 lakh rupees for the winner, 15 lakh rupees for the runner-up, and 10 lakh rupees for the second runner-up, with entry to cumulative grants from ACT. Participating startups are eligible to affix MIF’s Scale-Up Program after assembly standards and diligence. Additionally, the highest 9 finalists acquired 3 lakh rupees every beneath the inexperienced seeding pool from SIDBI. Moreover, all candidates acquired mentorship from business leaders by masterclasses. For occasion, Tata Power, RMI, and GEAPP and so on. hosted classes on matters like fundraising for local weather tech startups and the position of startups in vitality transition.

“Were thrilled with the success of the Avaana Capital – Startup India Grand Challenge for ClimateTech Innovation, which showcased revolutionary startup options and highlighted the significance of collaboration in driving impactful change. Thanks to all stakeholders for their insights and dedication. This occasion demonstrated Indias progress in direction of net-zero and inexperienced financing. At Avaana, have been devoted to fostering sustainable improvements, as seen on this occasion and others prefer it. Looking forward, Im optimistic that such initiatives will result in transformative local weather options, shaping a resilient future for India and the world,” mentioned Anjali Bansal, Founding Partner at Avaana Climate and Sustainability Fund.

“At the Avaana Capital – Startup India Grand Challenge, we witnessed the prowess of Indias startup ecosystem in spearheading ClimateTech innovation. The occasion illuminated the trail to a sustainable, inexperienced future. Its crucial for numerous stakeholders to unite, fostering a collaborative method for a profitable inexperienced transition. These startups, with their transformative options, not solely echo technological brilliance but in addition handle profound societal impacts. Lets champion inexperienced options and eagerly anticipate the various pitches that form our sustainable tomorrow“, expressed Amitabh Kant, G20 Sherpa.

The Grand Finale served as a testomony to the potential of startups in driving local weather options and fostering a sustainable future. With continued assist from policymakers, traders, and business leaders, initiatives like these are poised to speed up Indias journey in direction of a net-zero financial system.

About Avaana Capital
Avaana Climate and Sustainability Fund, India’s first and largest climate-tech enterprise capital fund invests in future market leaders on the early-stage, leveraging technology-led innovation to construct and scale options for local weather and sustainability whereas delivering exponential returns. Avaana invests in thematic areas of Energy and Resource Management, Mobility and Supply Chains, and Sustainable Agriculture and Food Systems. Since 2018, Avaanas investments function over 20 startups, together with portfolio firms corresponding to FarMart, Ninety One cycles, Kazam, Eeki Foods, Aerem, Sentra, Eggoz, TurnO, Terra.do and so on. Avaana’s Team has beforehand made investments in class leaders like Delhivery, Nykaa, Urban Company, Shadowfax, Ninjacart, Moveinsync, Stellapps and so on.

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