Under this program, the ministry has delivered a unique opportunity to early-stage companies (startups) and innovators to crack some key challenges which are presently faced by the renewable energy industry in India
August 19, 2019. By News Bureau
With a goal to inspire new innovations in the country, the Ministry of New and Renewable Energy (MNRE) has announced that it has started a program in which startups and innovators are requested to display their new and innovative technologies.
Under this program, the ministry has delivered a unique opportunity to early-stage companies (startups) and innovators to crack some key challenges which are presently faced by the renewable energy industry in India.
Furthermore, MNRE has recognized key problem statements oscillating from innovative use of renewable energy for increasing quality of life to energy solutions for regions with tough terrain.
Additionally, the ministry has separated its problem statement into eight categories including – livelihood application; power system and design; solar energy; wind energy; energy solutions for industrial processes in SMEs; mid to large-scale manufacturing units; biomass and waste-to-energy supply chain for power & thermal generation; mobility and energy storage, and any other solutions in the renewable energy sector.
The eligibility criteria for participation in this program will be any individual/ academic institute/ research lab/ startup developing an innovative product, service or business model. Also, the stage of innovation should at least be prototype and feasible for deployment.
The application submission for the program has already been started from August 09, 2019 and the last date for submitting the application will be September 01, 2019. Also, the eligible applications will be evaluated by the Committee comprising representatives from relevant fields.
In strategic partnership with Invest India, three best solutions across problem statement will be shortlisted under the program for a cash reward.
As per the MNRE, top performer will receive a cash grant of Rs 10 lakh, while second position holder company will get Rs 7 lakh and third rank holder entity will be eligible for Rs 5 lakh as reward.
Besides financial incentives, shortlisted applicants will also get the opportunity to exhibit their prototype during RE-INVEST 2019, and MNRE will facilitate the need based incubation support for this.
Also, the felicitation of winners will be held between October 30, 2019 and November 02, 2019.
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