Spectrum Impact-Avana Capital invest in net-zero ambitions
The Department for Promotion of Industry and Internal Trade (DPIIT) has signed 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 two-year partnership, with a provision for extension, will support early-stage climate-tech startups through funding access, mentorship, pilot opportunities, and market linkages, the Ministry of Commerce and Industry said on 17 May.
“The initiative seeks to build a strong pipeline of scalable, investable ventures aligned with India’s net-zero ambitions,” it added.
As part of the MoU, GEAPP will launch the Energy Transitions Innovation Challenge (ENTICE)—a competitive platform offering up to US$500,000 in rewards for high-impact solutions.
“Investment support will also be facilitated through partners like Spectrum Impact and Avana Capital,” added the Ministry.
DPIIT will connect the program to the Startup India network and anchor outreach through major government schemes https://www.nseindia.com/.
DPIIT Joint Secretary Sanjiv noted that India’s climate leadership depended on a strong entrepreneurial base.
He underlined that the partnership would open significant opportunities for clean energy startups to scale technologies that support the country’s long-term net-zero objectives https://www.nseindia.com/.
Saurabh Kumar, Vice President – India, GEAPP, described the MoU as a pivotal move to foster systemic change through collaboration between industry, government, and innovators.
He said GEAPP’s global experience, combined with Startup India’s network and DPIIT’s institutional support, would unlock new opportunities for clean energy entrepreneurship.
The MoU was signed by Dr. Sumeet Jarangal and Saurabh Kumar in the presence of senior officials from both organizations. Fiinews.com
