Climate Action Startups have something to cheer in the state of Gujarat. Under a new initiative to reduce carbon emission and improve green cover, Gujarat’s climate change department has recently announced a INR 500 Cr for climate action startups for the next five years.
The fund will be accessible to student startups and startup founders, who are under 35 years and are not meant for student community.
Under this program, the climate change department will initially focus on climate change startups that are contributing to society.
Principal secretary of climate change department S J Haider said, “Under the Student Startup Innovation Policy 2.0 (SSIP 2.0), we have kept provision of INR 300 Cr for the startups plus another INR 200 Cr for the private startups too, making it a total of INR 500 Cr.”
Gujarat to Invest INR 2.5 Lakh in Climate Action Startups at the ideation stage
The climate change department will invest upto INR 2.5 Lakh in startups at the ideation or ‘proof of concept’ stage while startups at an advanced stage offering products or services will receive up to INR 10 Lakh seed fund.
It will further evaluate the selected startups by procuring their products and services.
Under the SSIP 2.0, startup founders upto the age of 35 years who have either completed their studies or are school dropouts, are also eligible for the fund. The climate change department will connect such startups with different departments such as roads and buildings, and forest among others that can buy their products or services.
