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Villgro, CEEW launch USD 2.5 million initiative to support clean-tech start-ups

villgro and ceew

VilLgro Innovation Foundation, one of the country’s top social enterprise incubators has collaborated with the Council on Energy, Environment and Water (CEEW) for a $2.5 million initiative to support start-ups working on clean energy solutions.

The initiative aims to provide dedicated capital, technical and sectoral growth support to at least five enterprises which are deploying innovative, clean energy-powered livelihood appliances and shall enable them to undertake large scale commercial deployments over a period of three years. Investment firms like Caspian Debt, Upaya Social Ventures and others have been roped in under the initiative.

Start-ups that leverage cleantech and renewable energy sources are slowly gaining traction in the entrepreneurial ecosystem. Karnataka, which is home to one-fourth of all start-ups in the country has also emerged as the highest renewable energy producer according to a report from the Institute for Energy Economics and Financial Analysis.