A Partnership To Boost India's Manufacturing & Deep-Tech Startups

This partnership between Avaana Capital and DPIIT underscores a commitment to advancing India's manufacturing and deep-tech ecosystem, fostering innovation, and driving sustainability across key sectors.

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Driving Climate Tech Innovation: Avaana Capital & DPIIT Partner for Growth | Photograph: (TICE Creative Image)

Avaana Capital, a leading climate-focused venture capital fund, has signed a Memorandum of Understanding (MoU)with the Department for Promotion of Industry and Internal Trade (DPIIT) to significantly enhance India's manufacturing and deep-tech startup ecosystem.

Strengthening the Indian Startup Ecosystem

Sanjiv, Joint Secretary of DPIIT, emphasized that the partnership is designed to provide robust support for startups operating in the manufacturing and deep-tech sectors.

"By leveraging Avaana's deep expertise in climate-focused innovation and their proven mentorship programs, DPIIT aims to empower startups to accelerate their growth trajectories while simultaneously driving sustainability and global competitiveness," he stated.

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This initiative aligns perfectly with the government's overarching goal of cultivating an ecosystem that fosters groundbreaking innovationand positions India as a global leader in low-carbon, technology-driven manufacturing solutions.

Aligning with Make in India and Net-Zero Goals

Dr. Sumeet Kumar Jarangal, Director of Startup India, further emphasized that the partnership provides crucial support to the Make in India initiative, with a strong focus on sustainability and self-reliance. He highlighted that Avaana's collaboration will be instrumental in driving systemic shifts across critical sectors, including energy transition, mobility, and agriculture, thereby contributing significantly to India's ambitious net-zero emissions goals.

Avaana Capital's Role in Climate and Sustainability

Avaana Capital manages the esteemed Avaana Climate and Sustainability Fund, which strategically invests in early-stage climate technologies across a diverse range of thematic areas, including energy transition, resource management, mobility, supply chains, sustainable agriculture, and robust food systems. Since its inception in 2018, Avaana has successfully invested in over 20 promising startups, including notable names such as FarMart, Ninety One Cycles, and Eeki Foods. The fund plays an active role in supporting manufacturing startups by providing invaluable strategic guidance and empowering them to effectively scale their operations while securing essential growth funding.

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Key Objectives of the Partnership

Anjali Bansal, Founding Partner of Avaana Capital, underscored the immense potential of innovation and advanced technologies in transforming India's manufacturing sector. She stated, "Indian entrepreneurs possess the innate capacity to drive significant advancements in automation and innovative processes, impacting not only India but also the broader global south." Bansal further emphasized that the core objective of this partnership is to equip startups with the necessary support across all crucial dimensions – policy, capital, and industry – to facilitate effective scaling and contribute meaningfully to a truly competitive manufacturing landscape.

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Manufacturing & Deep-Tech Startups: Avaana Capital & DPIIT Join Forces Photograph: (Avaana Capital & DPIIT )

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 Avaana’s Comprehensive Initiatives

Through this strategic collaboration, Avaana Capital plans to provide comprehensive support to manufacturing and deep-tech startups by:

  • Thesis-Driven Strategies: Sharing invaluable expertise in manufacturing, cutting-edge innovation, and sophisticated deep technologies.
  • Low-Carbon Transition: Accelerating the widespread adoption of low-carbon systems across a diverse spectrum of market segments.
  • Mentorship Programs: Offering expert guidance through dedicated "Office Hours" to assist startups in effectively building robust manufacturing capabilities and refining their business models.
  • Flagship Platforms: Leveraging flagship platforms such as the renowned Avaana India Climate Week and the impactful Grand Challenge for Climate Tech Innovation to provide startups with invaluable opportunities to showcase their innovative solutions, engage with influential policymakers, connect with industry leaders, and foster meaningful collaborations within academia.

A Shared Vision for Innovation and Sustainability

This significant partnership between Avaana Capital and DPIIT underscores a shared commitment to advancing India's manufacturing and deep-tech ecosystem while simultaneously driving groundbreaking innovation and fostering sustainability across key sectors.

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