Avaana Capital, Startup India and NITI Aayog AIM launch The Grand Challenge for ClimateTech Innovation 2024-25
New Delhi, January 21, 2025: Avaana Capital, India’s first institutional climate-focused venture capital fund investing in early-stage startups, in collaboration with Startup India and with NITI Aayog Atal Innovation Mission, proudly launches the Avaana-Startup India- NITI Aayog-AIM Grand Challenge for ClimateTech Innovation 2024-25.
As the only challenge of its kind in India, this initiative aims to identify and propel breakthrough climate-tech solutions that will drive India’s transition to a net-zero future.
With climate change disrupting economies, food security, water availability and energy access, technology driven innovation is critical to scaling climate mitigation, adaptation and resilience.
India has committed to reducing its emission intensity by 45% by 2030 and with a target of reaching net zero by 2070 under the ‘Panchamrit’ strategy, aligning economic growth with climate responsibility.Avaana-Startup India-NITI Aayog AIM Grand Challenge for ClimateTech Innovation 2024-25 will support startups pioneering solutions across six key themes:
- Energy Transition and Industrial Decarbonization
- Mobility and Supply Chains
- Sustainable Agriculture and Food Systems
- Built Environment
- Water and Solid Waste Management
- Next-Generation Materials (Packaging, Goods, Furniture, Textile, Inks & Dyes)
These solutions must leverage one of the two core technology areas:
- Digital Innovation with Machine Learning, Artificial Intelligence, and Cloud Technology – enabling data-driven climate action, automation and optimization of energy use, mobility and resource management
- Advanced Manufacturing Technologies and Innovative Processes – helping reduce industrial emissions, improve material efficiency, and enhance sustainable production processes to support India’s National Manufacturing Vision
Last year, a distinguished grand jury of over 40 investors, policymakers, think tanks, and industry leaders, chaired by Amitabh Kant, G20 Sherpa and former NITI Aayog CEO, selected the most promising startups, ensuring industry recognition.
Esteemed members of the jury included Sally Taylor, Minister Counsellor, UK Government; Chintan Vaishnav, Mission Director, Atal Innovation Mission; S Ramann, CMD, SIDBI; and Caroline Flammer, Professor of Economics, Columbia University, among others. Partners with shared climate goals included TATA Power, SBI, Nestle, TATA Steel, SIDBI, HSBC, CEEW, and Third Derivative.
Select startups received Green Seeding Funds from SIDBI, grants of up to ₹2 crores from ACT Grants, awards of up to ₹1 crore, cloud credits worth $100K from AWS and Google, and mentorship from over 25 partners.
Building on this success, the Avaana-Startup India Grand Challenge for ClimateTech Innovation 2024-25 will serve as a launchpad for India’s top climate-tech entrepreneurs. This year, partners such as Nestle, NetApp, Saint-Gobain, Rocky Mountain Institute (RMI), Columbia University, T-Hub, SINE IIT Bombay, among others, will collaborate to support startups with opportunities to obtain seeding funds, monetary rewards, recognition, grants, expert mentorship, and access to investor linkages and valuable industry partnerships.
“Innovation is at the core of climate resilience, mitigation, and adaptation. Through the Avaana-Startup India-NITI Aayog Grand Challenge for ClimateTech Innovation 2024-25, we aim to empower startups developing transformative solutions in energy, sustainable agriculture, advanced materials, decarbonization, and AI technology that will shape India’s transition to a sustainable and net-zero future. Last year, we witnessed incredible innovation and commitment from entrepreneurs nationwide, and we look forward to supporting a new cohort of changemakers who are building for India and the world.”
Anjali Bansal, Founding Partner, Avaana Capital
The Grand Challenge for ClimateTech Innovation 2024-25 is now open for applications as part of National Startup Day. Startups with DPIIT registration are eligible to apply. Prospective applicants can log onto Startup India portal to complete registration. Finalists will be announced in the coming months, leading to a culminating event recognizing India’s most promising climate-tech innovators.
