India Paves Way for Climate-Tech Innovation Through GEAPP Partnership

The Department for Promotion of Industry and Internal Trade (DPIIT) has formalized a crucial alliance with the Global Energy Alliance for People and Planet (GEAPP), marking a significant step in bolstering innovation and entrepreneurship within the clean energy and manufacturing sectors. Announced on Saturday by the Ministry of Commerce and Industry, this partnership underscores India's commitment to environmental goals.

Spanning two years with prospects for extension, this collaborative effort aims to back early-stage climate-tech startups across the nation by offering essential resources such as financial backing, mentorship, testing opportunities, and strategic market linkages. This initiative aligns with India's ambition for net-zero emissions, striving to cultivate a robust pipeline of viable startups equipped for investment and growth.

A notable feature of this MoU is the launch of the Energy Transitions Innovation Challenge (ENTICE), a competitive platform promising rewards up to USD 500,000 for impactful climate-tech innovations. Complementary investment initiatives will be facilitated through partnerships with organizations like Spectrum Impact and Avana Capital.

The Commerce Ministry noted that DPIIT is entrusted with integrating the program into India's Startup network, enhancing outreach via key government schemes. Sanjiv, Joint Secretary at DPIIT, highlighted the pivotal role of entrepreneurship in reinforcing India's leadership in climate action.

Additionally, GEAPP Vice President, India, Saurabh Kumar, emphasized the MoU's significance in harmonizing efforts between government, private sectors, and innovators to drive transformational change. The formal signing was conducted by Sumeet Jarangal and Saurabh Kumar, witnessed by senior officials from both organizations, heralding a new era of collaborative climate-tech advancement. (ANI)

(With inputs from agencies.)