Indian Economy News

Union Minister for Science and Technology, Dr. Jitendra Singh called for affordable Clean Energy solutions and said, to achieve this goal, strong PPP is the need of the hour

While addressing the Clean Energy Ministerial (CEM-14) 8th Mission Innovation (MI-8) meeting, Dr. Jitendra Singh, Union Minister of State (Independent Charge) for Science and Technology; MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy, and Space, called for affordable Clean Energy solutions and stated that strong Public Private Partnership (PPP) is essential in achieving this goal. He reaffirmed the dedication of Prime Minister Mr. Narendra Modi to this cause.

The Clean Energy International Incubation Centre, also known as CEIIC, was established in 2018 and has already incubated 45 start-ups and submitted 35 patents, according to the Minister speaking on behalf of India, the host country. He stated that 20 of these startups are now commercially available in the market, while 10 startups have commercialised their goods and a few start-ups have generated more than US$ 2.43 million (Rs. 20 crore) in funding.

Dr. Jitendra Singh recalled that under the multinational Mission Innovation programme, DBT/BIRAC, Tata Trust, and Tata Power jointly developed the Clean Energy International Incubation Centre (CEIIC), a first-of-its-kind international incubator centre, in 2018. He claimed that this demonstrates the Indian government's strong commitment to developing renewable energy solutions through PPPs.

The incubator, according to the minister, supports a broad range of clean energy solutions with a focus on MI objectives. The Incubator provides access to advanced labs and equipment, a pool of experts and mentors, and live test beds with the opportunity to conduct pilots. In addition, it provides opportunities to connect with important ecosystem players and gain access to scale-up investments and Seed Fund Support.

The CEIIC-incubated Start-up ‘Takachar’ was also declared by Dr. Jitendra Singh as the winner of the GBP 1 million Earth shot prize for its technological innovation.

According to Dr. Jitendra Singh, the Clean Energy Incubator has issued three consecutive calls for applications in an effort to identify and create a pipeline of entrepreneurs and start-ups.

The Minister concluded that this effective PPP model can be used to address global difficulties in other industries and produce affordable, scalable, and environmentally friendly solutions for a sustainable future. Moreover, India is eager to collaborate with new partners to scale up ideas made by start-ups.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.