Gujarat’s climate change department has just committed INR 500 crore for climate action startups over the next five years in order to cut carbon emissions and boost green cover in the state.
Principal secretary of climate change department S J Haider said, “Under the Student Startup Innovation Policy 2.0 (SSIP 2.0), we have kept provision of INR 300 Cr for the startups plus another INR 200 Cr for the private startups too, making it a total of INR 500 Cr.”
The Department of Climate Change will scrutinize the selected startups by procuring their products and services.
Gujarat to invest Rs. 2.5 Lakh in New Climate Change Startups
The climate change department will invest upto INR 2.5 Lakh in startups at the ideation or ‘proof of concept’ stage while startups at an advanced stage offering products or services will receive up to INR 10 Lakh seed fund.
Under the SSIP 2.0, startup founders upto the age of 35 years who have either completed their studies or are school dropouts, are also eligible for the fund. The climate change department will connect such startups with different departments such as roads and buildings, and forest among others that can buy their products or services.
The fund will go to startup founders under the age of 35 who are not students.
The climate change department will focus on climate change companies that are beneficial to society under this initiative. According to a recent article by Ahmedabad Mirror.