India will soon have its first international incubator coming up in capital city of Delhi. The incubator will be set up to promote innovation in the field of clean energy and stimulate research, innovation, and entrepreneurship for the global initiative on clean energy, announced India’s Union science & technology minister Harsh Vardhan.
With a total investment of around $5 million, the incubator is being set up in a public-private partnership and will promote entrepreneurship and innovations in the area of clean energy and provide opportunities to innovators across the Mission Innovation countries to test their technologies in the local market.
Mission Innovation (MI) is a global initiative of 22 countries and the European Union to dramatically accelerate global clean energy innovation. As part of the initiative, participating countries have committed to seek to double their governments’ clean energy research and development (R&D) investments over five years, while encouraging greater levels of private sector investment in transformative clean energy technologies.
“We, as part of the ‘Mission Innovation’ country, are setting up an international level incubator in Delhi. Stakeholders from across the world will come here and work in the field of clean energy innovation,” said Harsh Vardhan.
Notably, India is a key participant in the global initiative on clean energy research and is one of the three countries responsible for crystallizing the idea of global initiative to accelerate the pace of innovation and make clean energy widely affordable, which culminated in Mission Innovation.
“We have already announced $10 million for smart grid innovations and another $5 million for biofuels innovation as part of our commitments to promote clean energy.”, said Vardhan.
Earlier, India has also launched the joint ‘virtual clean energy centre’ with the UK and the joint ‘clean energy research and development centre on energy storage and smart grids’ with the US.
Besides, India’s Department of Science and Technology is setting up a clean energy centre for integration of intermittent renewables with suitable energy storage in on grid or off grid situations.
To recall, Delhi government had too announced to launch startup incubator in lines of T-Hub, an India’s largest startup incubator to date.
Source – Times of India
[Top Image – DisruptorDaily.com]