Avaana Climate and Sustainability Fund, an early-stage venture capital firm focusing on disruptive climate-oriented startups, has teamed up with Start-up India to launch the ‘Grand Challenge for ClimateTech Innovation’. This initiative seeks to identify and back visionary entrepreneurs creating innovative solutions crucial for India and the global community to smoothly transition to net zero. The challenge welcomes entries in seven key themes, addressing critical aspects of the climate crisis: Energy Transition and Mobility, Sustainable Food and Agriculture Systems, Industrial Decarbonization and Built Environment, Circular Economy, Climate Finance, Carbon Capture, Removal and Storage, and Climate Data and Reporting.

Aastha Grover, Vice President of Start-up India, highlighted the importance of initiatives like the ClimateTech Innovation program in today's global context. She emphasized that these programs offer emerging entrepreneurs and startups an excellent platform to showcase their inventive solutions in the midst of the worldwide shift toward sustainability and clean technologies. Grover sees these startups as trailblazers poised to take on leadership roles in pioneering technologies that effectively tackle environmental issues. She encourages startups to seize this opportunity and utilize it to create a meaningful impact.

Anjali Bansal, Founding Partner of Avaana Capital, stressed the commitment behind the Grand Challenge for ClimateTech Innovation. Bansal mentioned, "The initiative is aligned with the vision of building solutions from India, not only for India but also for the global community". It signifies a dedication to supporting innovative startups driving impactful climate solutions. Eligibility for the challenge is limited to startups with DPIIT registration. Winners not only have the chance to receive monetary awards but also gain access to invaluable mentorship from industry leaders and exposure to opportunities with influential stakeholders.

The panel responsible for evaluating applications comprises esteemed professionals from various sectors within the ecosystem. This distinguished panel includes corporate leaders passionate about sustainability, research think tanks, academic institutions, and other significant contributors, ensuring a comprehensive and insightful evaluation process. Applications for the ‘Grand Challenge for ClimateTech Innovation’ remain open until December 30, 2023. The initiative has received support from various organizations such as NITI Aayog, Atal Innovation Mission (AIM), The Global Energy Alliance for People and Planet (GEAPP), Rocky Mountain Institute (RMI) India Foundation, Nestle, Tata Power, among others. These collaborations underscore the collective effort to address climate challenges and promote sustainable innovation on a global scale.