Startup Mahakumbh To Showcase Innovations Addressing India’s Climate Challenges

The Startup Mahakumbh, which will be held in New Delhi from March 18-20, will showcase climate tech innovations which have the potential to address the country’s climate challenges. The event, touted to be the largest in the Indian startup world, is being organised by industry body ASSOCHAM, in collaboration with Nasscom, Bootstrap Incubation & Advisory Foundation, TiE, and Indian Venture and Alternate Capital Association (IVCA). 

Prominent industry leaders like Amitabh Kant (former CEO of NITI Aayog), Sivasubramanian Ramann (managing director of SIDBI), Falguni Nayar (founder of Nykaa), Sridhar Vembu (founder and CEO of Zoho), Prashanth Prakash (founding partner of Accel) and Sanjeev Bikhchandani (founder of InfoEdge) will attend the Startup Mahakumbh.

The event will host over 10 thematic pavilions to highlight the cutting-edge advancements. One such pavilion would be climate tech, which will be led by sustainability-oriented venture capital firm Peak Sustainability Ventures. 

At a time when enterprises are increasingly focusing on their carbon footprint and environmental issues have emerged as a key focus area owing to the increasing importance of the ESG framework, the pavilion will showcase the breakthroughs of young and aspiring entrepreneurs in this area. Going beyond traditional focus areas, it aims to broaden perspectives on some of India’s major climate opportunities, including hydrogen, alternative fuels, energy storage, EVs, water management, green buildings, alt-protein and other pertinent areas. 

It is pertinent to note that the Indian and Southeast Asia (SEA) climate tech market was pegged at $102 Bn in 2023 and is expected to grow at a CAGR of 20% to reach a size of $350 Bn by 2030, as per ‘The Essence of Climate Tech for India and Southeast Asia’ report by venture capital firms Golden Gate Ventures and Ventureast.

Commenting on the climate tech opportunity, Samir Shah, managing partner at Peak Sustainability Ventures, said, “Energy storage, biofuels, regenerative agriculture and hydrogen are promising sub-sectors. Over 22% of the world’s CO2 emissions come from buildings. In this scenario, the development of green buildings and the substitution of cement and steel with alternatives such as bricks made of biofuel will be exciting.” 

Networking Hub For Current And Aspiring Entrepreneurs

At the climate tech pavilion at the Startup Mahakumbh, the attendees can expect pitch sessions and 1:1 mentorship sessions. Besides, water.org will host a workshop on water and the Good Food Institute will host a workshop on Alt Protein. 

Shah said that senior leaders from IFC (International Finance Corporation), Dalmia Cement, NTPC, Arvind Mills, Godrej, Waree Energies, and Ather will share their experience in the field of sustainability and explain how they work with startups to enable the climate tech ecosystem to thrive and prosper.

“Sustainability will be a key part of India’s story over the next decade, especially as India starts to play a more central role in the global sustainability landscape and in helping the world achieve its sustainable development goals. At an industry level, climate is one of the fastest-growing verticals within venture capital. The time for India to put sustainability at the forefront is here and now and the climate tech pavilion will serve as a catalyst for furthering the conversation on India’s energy transition and sustainability journey,” Shah said. 

The climate tech pavilion aims to create awareness and highlight that the sector has matured in the country now. “With companies in India building for the world, the sector is profitable and promises tremendous growth,” Shah added.