Avaana Capital, in partnership with Startup India, successfully concluded the Avaana Capital – Startup India Grand Challenge for ClimateTech Innovation at the grand finale event held at Vanijya Bhawan. This initiative marks a significant milestone in fostering innovative solutions that propel India towards a sustainable and green future.
The initiative worked closely with several partners, including Small Industries Development Bank of India (SIDBI), Startup India, and NITI Aayog’s Atal Innovation Mission (AIM). Its principal objective was to identify and support creative businesses that tackled issues related to climate change, such as resilience, adaptation, and mitigation, in order to support India’s transition to net-zero emissions.
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Important corporate sponsors, such as leading companies in the sector including Tata Steel, Lodha, HSBC, SBI, Nestle, and Tata Power, were crucial in helping the startups taking part in the program. Green seeds were given to the event by SIDBI, and Shri Sivasubramanian Ramann, the CMD of SIDBI, gave the keynote address.
“We’re thrilled with the success of the Avaana Capital – Startup India Grand Challenge for ClimateTech Innovation, which showcased innovative startup solutions and highlighted the importance of collaboration in driving impactful change. Thanks to all stakeholders for their insights and commitment. This event demonstrated India’s progress towards net-zero and green financing. At Avaana, we’re dedicated to fostering sustainable innovations, as seen in this event and others like it. Looking ahead, I’m optimistic that such initiatives will lead to transformative climate solutions, shaping a resilient future for India and the world,” said Anjali Bansal, Founding Partner at Avaana Climate and Sustainability Fund.
With industry insights, the session focused on Low Carbon Pathways and Financing for the Green Transition. The Grand Challenge Awards, which honor creativity in startups, were awarded by Anjali Bansal, founding partner of Avaana, and Shri Rajesh Kumar Singh, secretary of the DPIIT. The winners got up to 1 crore rupees in rewards, up to 2 crores in extra grants from ACT, credits from AWS and Google, and industry leaders’ mentorship.
“At the Avaana Capital – Startup India Grand Challenge, we witnessed the prowess of India’s startup ecosystem in spearheading ClimateTech innovation. The event illuminated the path to a sustainable, green future. It’s imperative for diverse stakeholders to unite, fostering a collaborative approach for a successful green transition. These startups, with their transformative solutions, not only echo technological brilliance but also address profound societal impacts. Let’s champion green solutions and eagerly anticipate the diverse pitches that shape our sustainable tomorrow”, expressed Amitabh Kant, G20 Sherpa.
About Avaana Capital
Avaana Climate and Sustainability Fund, India’s first and largest climate-tech venture capital fund invests in future market leaders at the early-stage, leveraging technology-led innovation to build and scale solutions for climate and sustainability while delivering exponential returns. Avaana invests in thematic areas of Energy and Resource Management, Mobility and Supply Chains, and Sustainable Agriculture and Food Systems.
