The Department for Promotion of Industrial and Internal Trade (DPIIT) signs a Memorandum of Understanding (MoU) with the Global Energy Alliance for People and Planet (GEAPP) to accelerate innovation, sustainability, and entrepreneurship in India’s clean energy and manufacturing sectors. The star of the MoU is the innovation challenge to be launched by the collaboration, named Energy Transitions Innovation Challenge (ENTICE)—a competitive platform offering up to $500,000 in rewards for high-impact solutions. 

The two-year partnership, extendable by provision, aims to empower early-stage climate-tech startups by providing access to funding, expert mentorship, pilot project opportunities, and market connections. The initiative is designed to build a robust pipeline of scalable, investment-ready ventures aligned with India’s net-zero goals. 

Significance of Climate Tech in India 

India’s climate-tech startup ecosystem is in its early stages but growing rapidly, with funding surging from USD 20 billion in 2021 to USD 22.5 billion in 2022. Key sectors include energy transition, clean mobility, and sustainable agriculture. As climate impacts like Cyclone Michaung highlight India’s growing vulnerability, urgent investment in climate-proofing and resilient innovation is critical.

To read how your startup can avail tax exemption for three straight years, click here! 

Funding Trends in India 

India’s climate-tech startup ecosystem is in a nascent but rapidly growing phase, with funding surging over fourfold in 2021 and reaching $4.7 billion in equity funding by 2022. While global climate-tech investments dipped by 40% in 2023 due to macroeconomic pressures, India remains a key emerging player, especially in energy transition, clean mobility, and sustainable agriculture.

Need for Startups 

Since startups are meant to provide innovative solutions with indigenous technologies for the problems faced by businesses and people, this is the best way possible for India. As the need for climate tech grows in India, India must develop its technology and capital to develop and deploy these technologies and, in turn, add economic value to its status. 

To read how the Credit Guarantee Scheme by the Government of India can help your startup raise funds, click here! 

Enhances Support 

Investment support will be channeled through partners such as Spectrum Impact and Avana Capital. DPIIT will integrate the initiative with the Startup India network and drive outreach through key government schemes.