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IIMA to create $2 million cleantech fund

September 5, 2007 · Posted in Entrepreneurship, VC India 

The Center for Innovation, Incubation and Entrepreneurship (CIIE) at IIM Ahmedabad is planning to create a $2 million seed fund to exclusively fund clean technologies. The fund will be created under the Cleantech Venture Programme. Entries will be invited from universities and research institutes and evaluated by a panel of experts. Shortlisted entries will be showcased at the first CleanTech conference to be organized in 2008.

The programme would cover energy technologies like solar PV, fuel cells, wind and bio-fuels as well as energy storage technologies like batteries, thin firms and flywheels.

Energy efficiency technologies like conservation systems, intelligent metering etc would be included. Entries on water recycling, purification, desalination, conservation-related technologies and waste management are some of the areas that the CIIE is looking at.

via BS

This has definitely got me wondering — as a developing country with an ever-burgeoning population, a super-hot economy and limited resources, should we be giving much more importance to clean technology ? Cleantech has just caught the fancy of Silicon Valley and there is still room for a lot of innovation. Unlike the utilitarian value provided by consumer Internet services, clean tech has the ability to seriously impact our society, environment and the way we live. Not to mention the monetary gains that can be made (Tulsi Tanti anyone ?)


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One Response to “IIMA to create $2 million cleantech fund”

  1. Harshal Vaidya on January 10th, 2008 3:30 am

    Clean & Green is the only way to go. I am sure you read VentureBeat and know how hot that area is right now.

    In India distances are not as long as in the US. If people are convinced to use bicycles, 2 Wheelers for small short haul jobs we will be contributing to a much better future. if 6% of people in the world contribute we will be pushing Global Warming which is a big threat to us right now far into the future.