More than 60% of sustainability startups want more government support to increase funding in the category: Research
More than 60 PC sustainability initiatives call for more government support to increase funding in the sector: Research
More than 60 percent of Indian startups have sought government support to generate funding for this sector, according to a survey by Key Communications.
The survey was conducted among 200 sustainable startups from six cities, including Delhi, Pune, Mumbai, Bengaluru, Ahmedabad and Hyderabad, Key Communication said in a statement.
According to the statement, startups from different sectors such as clean tech, EV (electric vehicle), green hydrogen, solar energy, eco-friendly products, green startups, environmental advice, consultancy, climate change heroes and green finance companies. survey.
The founder of Key Communications Manish Sharma in a statement said that this study highlighted the need to raise awareness among consumers through various channels such as educators, researchers, media, awards, competitions and events.
“As a green agency that deals with the community, I believe that consumers’ access to information about eco-friendly products and their impact can have a significant impact on a sustainable future through their purchasing decisions,” he added.
The study revealed that more than 60 percent of sustainability initiatives in the country are expecting more government support to generate funding in this sector.
Despite the growing need for sustainable, green research and development (R&D), more than one-third of businesses worldwide are struggling with insufficient capital to innovate, it said.
And four in ten struggle to meet the high costs required to develop sustainable innovations, it said.
By 2023, India has made significant progress towards a green future and sustainable development, aiming for a Net Zero Goal by 2070.
However, the survey estimated that 20 percent (of respondents) emphasized the need for cooperation between various stakeholders in achieving net-zero goals and developing a sustainable startup environment.
Key findings indicate that government support, strong infrastructure, and adequate financial support are critical to success.
Respondents identified the role of government as key to creating an enabling environment for startups through incentives, streamlined regulations, and increased investment in research and development.
Policies such as Faster Adoption and Production of Hybrid and Electric Vehicles (FAME) were seen as important in promoting electric mobility, it added.
As per the latest data released by the Government of India in 2023, there are more than 6,600 cleantech startups operating in 450 districts across India, spread across nearly 34 states and Union territories.
