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India’s efforts to reduce the emissions intensity of its GDP by 45 per cent by 2030 and achieve energy self-reliance by 2047 requires a long term vision with investors analysing the big picture while investing in the clean technologies space, says Global Energy Alliance for People and Planet (GEAPP).
“In the clean technology space, investors have to be patient. On occasion, certain start ups might devise a technology ahead of its time, nevertheless, it is important to see the bigger picture. The whole start up community needs to have a bigger vision,” said Saurabh Kumar, Vice President India, at GEAPP.
Speaking to businessline, Kumar highlighted the importance of events such as the Start up Mahakumbh, and emphasised on projects for the incubation and growth of start ups.
Besides, reducing the emission intensity and achieving self-reliance, India’s climate goals, including Net Zero by 2070, clean technology solutions will play a pivotal role in materialising these targets. However, critical funding gaps persist, he emphasised.
India needs around $300 billion in funding to meet its ambitious climate targets. While it has an extensive start-up ecosystem, interest from venture capitalists is often low during project funding, and climate ranks ninth in terms of priorities for venture capital, Kumar explained.
Start up Mahakumbh
The Startup Mahakumbh aims to provide a platform for innovators to showcase their products, build networks, and secure investment. The recently concluded edition witnessed participation of 2,923 companies and over a 1,000 investors.
GEAPP also participated at the event, launching its flagship programme, the Energy Transitions Innovation Challenge (ENTICE).
“Currently in Rajasthan, we are helping digitize the Jaipur Discom and will follow up with two others this year. In fact, this year we have signed an MoU with the DPIIT at Startup Mahakumbh 2025. DPIIT and GEAPP will work together to strengthen the network of energy solution providers,” Kumar said.
ENTICE is an initiative that aims to nurture innovative solutions to different challenges in the energy transition sector and provide a platform to start ups in the space. It seeks to enhance access to market linkages, mentorship, and financial support.
Speaking about the learnings from the first edition, Kumar said, “The previous edition was successful, but there was a need for a few additions. We will be facilitating a Technical Assistance Grant of up to $500,000 and assisting in the inception of an ‘incubation centre’ through subsequent editions.”
GEAPP also intends to extend its support and mentorship beyond the event to facilitate a bridge between governments, consumers, and innovators, he added.
Equity funding
Spectrum Impact and Avaana Capital are among the investment partners who have made initial commitment to support promising solutions.
Spectrum Impact has committed in principle Rs 1 crore equity funding for each of the two winners, subject to due diligence, valuation and term negotiation, while Avaana Capital will consider investing on solutions, subject to due diligence.
Kumar reiterated GEAPP’s commitment to fostering the startup ecosystem in the clean energy and climate tech space.
“Through ENTICE, we want to introduce problem statements in the realm of our work and subsequently, provide these innovators opportunities to scale their solutions with the help of our partners,” he added.
This year, the problem statements that will be addressed at ENTICE 2.0 pertain to leveraging AI technology to analyze and map energy consumption patterns, along with providing for the digitization of the energy grids.
This is in tandem with GEAPP’s ongoing program DUET (Digitizing Utilities for Energy Transition) that seeks to help Discoms map and digitize their entire low-voltage network.
Currently, GEAPP is working with the Discom in Jaipur to create a digital twin of their low-voltage network. The Alliance has plans to expand the program to two more cities in Rajasthan this year.
Published on April 25, 2025
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