logo
#

Latest news with #INR2.3crore

Govt Launches INR 2.3 Crore Innovation Challenge to Boost Rooftop Solar Adoption
Govt Launches INR 2.3 Crore Innovation Challenge to Boost Rooftop Solar Adoption

Entrepreneur

time23-06-2025

  • Business
  • Entrepreneur

Govt Launches INR 2.3 Crore Innovation Challenge to Boost Rooftop Solar Adoption

The competition offers a total prize pool of INR 2.3 crore. The top three winners will receive INR 1 crore, INR 50 lakh, and INR 30 lakh respectively, while ten additional startups will each be awarded INR 5 lakh as consolation prizes You're reading Entrepreneur India, an international franchise of Entrepreneur Media. In a push to accelerate India's transition to clean energy, the Ministry of New & Renewable Energy (MNRE) has launched a INR 2.3-crore startup innovation challenge aimed at fostering new technologies in rooftop solar and distributed renewable energy systems, as per PTI. Announced on Saturday during the national conference on Skill Development for the Renewable Energy Workforce, the initiative seeks to attract early-stage ventures working on scalable solutions in green tech and related sectors. According to a statement from the ministry, the "Innovative Projects Start-Up Challenge on Rooftop Solar (RTS) and Distributed Renewable Energy (DRE) Technologies" is designed to identify high-impact innovations that can speed up the adoption of decentralized solar energy systems across the country. The challenge is being implemented under the aegis of MNRE, with the National Institute of Solar Energy (NISE) providing technical support, and StartUp India—under the Department for Promotion of Industry and Internal Trade (DPIIT)—coordinating outreach and engagement efforts. The ministry said startups from a diverse set of industries including green technology, Internet of Things (IoT), artificial intelligence, blockchain, construction, energy hardware, fintech, and waste management are eligible to apply. The goal is to tap into a wide innovation pool to address operational, financial, and technical barriers in the rooftop solar ecosystem. The competition offers a total prize pool of INR 2.3 crore. The top three winners will receive INR 1 crore, INR 50 lakh, and INR 30 lakh respectively, while ten additional startups will each be awarded INR 5 lakh as consolation prizes. Beyond the financial incentives, selected startups will receive incubation support, access to pilot project implementation, and mentorship from experts and investors associated with MNRE and NISE. "The challenge aims to identify and support breakthrough solutions for India's rooftop solar and distributed renewable energy ecosystem," the MNRE statement noted, emphasizing the ministry's intent to catalyze innovation that can be deployed at scale. With rooftop solar capacity still underperforming relative to targets, the challenge is expected to drive fresh momentum in a sector seen as critical to meeting India's renewable energy goals.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store