The Indian Energy Storage Alliance (IESA) will hold a startup competition in Delhi between January 10-12 which would be India’s first startup competition focused on energy storage, electric vehicles and charging infrastructure and micro-grids.
Through the competition, IESA wants to tap into the massive gap that exists in the energy storage segment and find some solutions to indigenize the manufacturing of energy storage practices.
The event will focus on identifying three startups that are focussed on energy storage and an opportunity to be mentored by top 10 companies in the field. “To enter the contest, startups should have an annual revenue not exceeding Rs 3.25 crore and should be in operation for less than five years,” IESA said in a statement.
The competition is supported by StartUp India, Mumbai Angel Network, TiE-Delhi-NCR, Sangam Venture and Global Energy Storage Alliance (GESA). Rahul Walawalkar, executive director, IESA, told TOI that it is good that the government is also focussing its attention on domestic companies and “it is a good opportunity for Indian companies to set-up their facilities that make end-to-end storage devices.”
The development was first reported in Economic Times.
More information about the competition can be found here.
The India Energy Storage Alliance (IESA) is a membership driven alliance on energy storage (includes, electrochemical batteries, mechanical storage, fuel cell etc.) focused on India market. Various stakeholders includes battery manufacturer, renewable companies (solar, wind), power electronics (inverter, PCS, BMS), microgrids, smart grids, electric vehicles, research institutions, engineering firms, IPPs, material and equipment suppliers, commercial and Industrial users, government and regulatory bodies.
IESA was launched in 2012 to assess the market potential of Energy Storage Technologies in India, through an active dialogue and subsequent analysis among the various stakeholders to make the Indian industry and power sector aware of the tremendous need for Energy Storage in the very near future. Several drivers like increasing share of renewables, supply-demand mismatch as well as transmission constraints, all add up to the Energy Storage roadmap.
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