Avaana Capital and Startup India Conclude Grand Challenge for ClimateTech Innovation

Avaana Capital and Startup India have successfully concluded the Avaana Capital – Startup India Grand Challenge for ClimateTech Innovation, marking a significant milestone in promoting innovative solutions for a sustainable future. The initiative, held at Vanijya Bhawan in New Delhi, aimed to recognize and support startups dedicated to addressing climate change challenges, including mitigation, adaptation, and resilience.

The event, which received over 400 applications spanning six key themes, including 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, showcased the innovative spirit of Indian startups. The 12 finalists, including top winners Greenpod labs, Ambiator, and Nexus Power, were selected after a rigorous evaluation process by a distinguished Grand Jury chaired by Amitabh Kant, G20 Sherpa.

The event highlighted Low Carbon Pathways and Financing for the Green Transition, featuring industry insights and discussions on the role of startups in driving climate solutions. Winners received awards up to 1 crore rupees, with additional grants totaling up to 2 crores from ACT, and credits from AWS and Google, along with mentorship from industry leaders. Additionally, all finalists received 3 lakh rupees each under the green seeding pool from SIDBI, and mentorship from industry leaders through masterclasses.

Anjali Bansal, Founding Partner at Avaana Climate and Sustainability Fund, expressed her optimism about the event’s success, emphasizing the importance of collaboration in driving impactful change. She highlighted Avaana’s dedication to fostering sustainable innovations, which align with initiatives like the Grand Challenge. Amitabh Kant, G20 Sherpa, praised the prowess of India’s startup ecosystem in spearheading ClimateTech innovation, emphasizing the need for a collaborative approach for a successful green transition.

The Grand Finale served as a testament to the potential of startups in driving climate solutions and fostering a sustainable future. With continued support from policymakers, investors, and industry leaders, initiatives like these are poised to accelerate India’s journey towards a net-zero economy, shaping a resilient future for India and the world.