India gears up to woo investors for ‘Clean Economy’ startups at 14-nation meet in Singapore

New Delhi: India plans to showcase its leadership position in the Clean Economy space and the various innovative solutions driving it in the forthcoming investor forum meeting of the Indo-Pacific Economic Framework for Prosperity (IPEF) to be held in Singapore on June 5-6, the Ministry of Commerce and Industry announced on Tuesday.

India will also showcase some of the large infrastructure projects in Clean Economy and top climate tech companies to the global investors for investment opportunities at the 14-nation meeting.

IPEF Forum has called for applications from tech companies and startups to showcase Indian investible sustainable infra projects such as electrical vehicles and solar projects. IPEF Forum aims to mobilise investments into sustainable infrastructure, climate technology and renewable energy projects.

The IPEF was launched in May 2022 and currently includes 14 partners – Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, the Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, United States and Vietnam.

It provides a platform for countries in the region to collaborate on advancing resilient, sustainable, and inclusive economic growth, and aims to contribute to cooperation, stability and prosperity in the region. The IPEF comprises four pillars of cooperation namely: Trade, Supply Chain, Clean Economy and Fair Economy.

The IPEF Clean Economy Investor Forum is one of the initiatives under the IPEF. It brings together the region’s top investors, philanthropies, financial institutions, innovative companies, start-ups and entrepreneurs. The Forum aims to mobilise investments into sustainable infrastructure, climate technology and renewable energy projects.

The Department of Commerce is the nodal agency for the IPEF engagements, and the IPEF Clean Economy Investor Forum is managed by Invest India (www.investindia.gov.in), India’s National Investment Promotion Agency.

The Forum will have opportunities for the Indian industry in two segments comprising the Climate Tech Track and Infrastructure Track.

Under the Climate Tech Track, the IPEF Clean Economy Investor Forum is holding an open call that aims to recognise the top climate tech companies and start-ups among the member countries and present them to global investors. Climate Tech entrepreneurs and companies in India may apply under this track.

Last date to apply is until April 26, and applications will be evaluated by regional and industry experts. The top 100 companies will be announced in early May 2024 and shortlisted companies will be invited to showcase and pitch at the Investor Forum in Singapore on June 5-6.

Interested parties may find the eligibility criteria, methodology of selection and portal for application submission at: https://www.holoniq.com/ratings/indo-pacific-climate-tech-100.

Under the Infrastructure Track, India will showcase selected investible sustainable infrastructure projects at the 2024 Forum. The sectors of focus are -- energy transition (e.g electric gird; renewable energy, including solar, and onshore wind; sustainable aviation fuel; battery storage; hydrogen; green data centres), transport and logistics (e.g. Electric Vehicle, EV charging points), waste management/waste to energy.

The projects that are ready, or expected to be ready, for private investment during the next 18 months will be given priority for showcasing at the Forum.

Indian investors who aim to invest in the IPEF partner countries, in either or both the tracks mentioned above are also encouraged to participate in the Forum.

Interested project proponents and investors may reach out to [email protected] and [email protected]