Telangana government-backed startup accelerator T-Hub, in collaboration with Rural Electrification Corporation (REC), on October 5, announced the finalists of the ‘Raising Young Entrepreneurs through Conceptual Research Experience’ programme.
Rama Iyer, chief innovation officer at T-Hub, said, “The partnership with REC demonstrates T-Hub’s responsibility towards societal impact, specifically in the education sector, and showcases ground-level impact by putting corporate CSR funds to good use.”
The two parties had announced the programme in January 2018 to boost innovation in the renewable energy space. It aims to empower students researchers to pursue their research and innovation in the renewable energy sector. The platform also trains the student innovators on solution-oriented thinking.
“REC welcomes this partnership, encourages students and teachers to apply academic learning to spark innovation in renewable energy, develop novel applications, and promote usage in their surroundings,” said Dr. S N Srinivas, CEO of REC Foundation.
The platform extends its support to over 30 Government Institutions across Andhra Pradesh and Telangana.
Out of 600 projects comprising of 1800 students the platform received this year, only 30 projects were shortlisted for advanced mentoring. After a screening process, only six teams were shortlisted. The finalists are selected from the following colleges:
- The University College of Engineering and Technology for Women, Warangal, Kakatiya University in Telangana
- The University College of Engineering and Technology; Mahatma Gandhi University in Telangana
- JNTUA College of Engineering Pulivendula in Andhra Pradesh
- RGUKT, IIIT, RK Valley in Andhra Pradesh While the first iteration of the REC Innovation
The projects were mentored by Dedicated Research mentors in areas ranging from Solar Energy and Wind Energy to Geothermal Energy and alternative biofuels, among others.
India’s Push For Renewable Energy
With increasing pollution and declining non-renewable energy sources, innovation in this domain is the need of the hour. The renewable energy market in India is estimated to be at $17 Bn and is expected to continue growing at the rate of 15% annually.
The share of renewable energy in India’s overall power capacity shot up to around 20% in 2018. According to reports, renewable energy only accounted for 13% of the total energy used, in 2015.
Moreover, India also has to cut down the use of fossil fuels in vehicles as per the Paris Agreement of 2015. To support the agreement, India plans to reduce its carbon emissions per unit of GDP by 33-35%, and produce 40% of its installed electricity capacity by 2030 through non-fossil fuels.
Indian startups working on cleantech projects to provide a greener alternative include Clairco, DataGlen, Synapptra, Chakr Innovation, Blue Sky Analytics, Mobycy, Ather Energy, 75F among others.