Latest news with #AnjaliBansal
Time of India
a day ago
- Automotive
- Time of India
Maruti Suzuki, DPIIT join hands to support tech startups in automobile manufacturing
Maruti Suzuki India Limited has signed a Memorandum of Understanding (MoU) with the Department for Promotion of Industry and Internal Trade ( DPIIT ) to support startups to develop technology-driven solutions in the automobile manufacturing and mobility space. As a result of the pact, startups recognised by DPIIT under the ' Startup India ' initiative can participate in Maruti Suzuki's innovation programs. Upon selection, startups will benefit from expert mentorship, industry insights, and access to the carmaker's extensive network and infrastructure. Additionally, startups will get a platform to connect with incubators, accelerators, and investors to showcase their solutions, according to a joint statement released on Wednesday. The MoU was exchanged between DPIIT and Maruti Suzuki in the presence of Sanjiv, joint secretary, DPIIT, Anjali Bansal, independent director, Maruti Suzuki, Sunil Kakkar, director (corporate planning), Maruti Suzuki, Rahul Bharti, senior executive officer (corporate affairs), Maruti Suzuki and Tapan Sahoo, executive officer (digital enterprise), Maruti Suzuki. Partnership builds on Maruti Suzuki's existing startup programmes Maruti Suzuki has been actively supporting early-stage companies through various initiatives such as the Mobility Challenge, Incubation, Nurture, and Accelerator programmes. So far, the company has screened more than 5,220 startups, engaged with around 150, and onboarded 28 as business partners. 'India is home to a vibrant and growing startup ecosystem. Through this partnership with DPIIT, we will be able to further accelerate our efforts to support promising startups to create technology-led solutions in the automobile manufacturing and mobility space,' Bharti said. 'This MoU is a step towards creating a robust platform for startups to transform ideas into market-ready mobility and manufacturing solutions, reinforcing India's leadership in next-gen industrial innovation,' Sanjiv said. 'Our partnership with Maruti Suzuki reflects DPIIT's commitment to nurturing high-impact startup engagement in the mobility and manufacturing space. We look forward to enabling startups with the support they need to succeed at scale, both in India and globally,' said Alam Ansari, deputy director, Startup India, DPIIT.
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Business Standard
02-07-2025
- Business
- Business Standard
RDI scheme a major boost for R&D and deep-tech in India: Industry
The approval of the Research, Development and Innovation (RDI) scheme by the Union Cabinet on Tuesday, with a corpus of Rs 1 trillion, is being seen as a major boost to research and development and deep-tech investment in India. Industry players and associations welcomed the announcement as a step in the right direction. India's R&D investment has long been a concern, with the country allocating only about 0.64 per cent of its GDP—significantly lower than the 2–5 per cent invested by countries such as the US, Japan and China. Many hope India will also attempt what China did in 2008 under its 'Thousand Talent Plan' to attract talent back to the country. The programme aimed to bring researchers and entrepreneurs home to contribute to the scientific and technological journey. 'The wish from industry is for the Fund to provide grants for research and fund the commercialisation of innovation. A scheme to attract global Indian talent and allow them to set up labs in India will be a critical factor for success. This will allow equity capital to follow and fuel the commercialisation of Indian innovation,' said Siddarth Pai, founding partner, 3One4 Capital. He added that India's innate talent requires infrastructure and policy support to thrive and move up the value chain. 'A single-window clearance for labs and import of equipment will be crucial to create this ecosystem,' he said. The scheme, announced in the July 2024 Budget, has excited the industry because of the two-tiered financing structure it proposes. Funds will flow through a 50-year, interest-free loan to the Anusandhan National Research Foundation (ANRF), chaired by the Prime Minister. The ANRF will then offer long-term concessional loans to second-level fund managers such as alternative investment funds, development finance institutions and non-banking financial companies. These, in turn, will finance individual projects. Anjali Bansal, founding partner of Avaana Capital, said this was a much-awaited move: 'Deep-tech ventures have longer gestation periods, complex technical risks, and often don't align with traditional venture capital timelines. India needs a broader spectrum of financing instruments—early catalytic capital, innovation-linked debt, and blended finance models that allow commercial investors to participate as the companies scale. The challenge lies in balancing long-term investments in deep tech with short-term economic gains. Patient capital, combined with strong technical and business teams focused on fundamental unit economics, can build a scaled business and deliver outsized returns over time.' Pai said a significant aspect of the special-purpose fund was that it enables the government to deploy capital through special purpose vehicles, AIFs and other instruments in collaboration with the private sector. 'This marks a strategic shift, recognising that industry has a better grasp of emerging technology needs,' he said. He added that the fund-of-funds model has worked well in developing the startup ecosystem in India. 'The same model lends itself to fuelling innovation with the government as a partner.' While the scheme's structure has been announced, the industry is now awaiting finer details—including the criteria for fund allocation and the timeline for disbursement. Ajai Chowdhry, founder of HCL and chairman of the EPIC Foundation, said the fund would also enable translational research by the private sector. 'Typically, under the ANRF, technical and research institutions will take innovation up to TRL-4 (technology readiness level). The private sector—both corporates and startups—can then take it to TRL-9 for India and the world,' he said. Industry players also raised concerns over the composition of the ANRF's governing board. Several told Business Standard that a board comprising only bureaucrats could derail the initiative. 'Ideally, people with global experience or those currently building products or services should be part of the board. This will be key. A board made up only of academics or bureaucrats will not help,' said a senior executive at a venture capital firm. According to the details released on Tuesday, the ANRF's governing board will provide overall strategic direction to the RDI scheme, while its executive council will recommend guidelines for the scheme and second-level fund managers, as well as define the scope and types of projects in sunrise sectors. Changes to the scheme, sectors or project types—as well as changes to second-level fund managers—will be approved by an empowered group of secretaries led by the Cabinet Secretary, the statement said.
Entrepreneur
18-06-2025
- Business
- Entrepreneur
Avaana Capital Draws First Tranche of GCF's USD 24.5 Mn Investment to Boost Deep Tech Innovation
This milestone is anchored by the Small Industries Development Bank of India (SIDBI), under the guidance of the Department of Financial Services (DFS). You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Avaana Capital, a sustainability-focused venture capital firm, has announced the first drawdown from the Green Climate Fund's (GCF) USD 24.5 million investment into the Avaana Sustainability Fund. This milestone is anchored by the Small Industries Development Bank of India (SIDBI), under the guidance of the Department of Financial Services (DFS). GCF, one of the world's largest climate-focused funds, supports developing nations in reducing greenhouse gas emissions and adapting to climate change. Anjali Bansal, Founding Partner at Avaana Capital, said, "We are honoured to partner with SIDBI and the GCF. As India moves toward its Viksit Bharat 2047 vision, accelerating deep tech innovation is both an opportunity and a necessity," she said. "This partnership represents the large economic opportunity for India's deep tech ecosystem—bringing together global capital to build solutions in energy, supply chains, advanced materials, and agriculture." SIDBI Chairman and Managing Director Manoj Mittal highlighted, "SIDBI is promoting sustainability among MSMEs by integrating green finance and supporting eco-friendly business practices. This milestone for Avaana Capital underscores a broader trend where India continues to position itself as a key player in addressing global challenges through technology and innovation." Founded in 2018, Avaana Capital backs startups using deep tech to deliver impactful solutions in energy, food and agriculture, supply chains, and advanced materials. Its portfolio includes companies like GreenGrahi, Eeki Foods, Turno, Dreamfly, Kazam, Eggoz, Farmart, Amperehour, and Aerem. With the support of SIDBI and GCF, Avaana Capital aims to catalyse India's transition to a resilient, future-ready economy through homegrown, cost-effective technologies designed for global impact.
