Just a few months ago, temperatures in India soared to 35-45 degrees Celsius. Many of us found ourselves lamenting the impacts of global warming on our daily lives, from dwindling resources like fuel and food to broader environmental concerns. The pressing question is: what are we doing to curb these changes?
Some visionaries are already working on it through sustainable startups in India. In this blog, we’ll discuss eco-friendly business ideas that pave the way for a stable and sustainable future!
The Growth of Sustainable Startups in India
India has rapidly emerged as a thriving ground for startups, especially eco-friendly initiatives. According to recent reports, sustainable startups in India have grown by 50% since 2017, (Source) driven by a commitment to meeting the United Nations Sustainable Development Goals (SDGs) and conserving natural resources.
Here are some factors contributing to this growth:
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Government Support
The Indian government has launched numerous initiatives offering incentives to eco-friendly startups, from financial assistance to supportive ecosystems for early-stage companies. Notable initiatives include the National Clean Energy Fund (NCEF), FAME India Scheme, National Action Plan on Climate Change (NAPCC), Green Skill Development Program (GSDP), and the Startup India Seed Fund Scheme (SISFS).
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Growing Consumer Demand
With increased awareness of climate change and the harmful effects of conventional products, consumers are seeking eco-friendly alternatives. As a result, industries such as food, transportation, utilities, and consumer products have experienced growth through sustainable startups in India.
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Fundraising Opportunities
The impact-driven missions of sustainable startups make them appealing to investors, who see their potential for profit and societal benefit. In India, various funding sources are available to these startups, from angel investors to venture capitalists, all helping to propel eco-friendly startups forward.
Spotlight on Sustainable Startups in India
Several industries are witnessing remarkable growth due to eco-friendly innovations. Here’s a look at some startups leading the way in sustainability:
Cleantech Startups in India
Cleantech startups focus on reducing harmful emissions, thereby tackling climate change and environmental degradation.
1. 75F – This startup builds smart, eco-friendly equipment for buildings, including sensors and controllers to monitor environmental conditions.
2. Ace Green Recycling – Specializing in battery recycling, Ace Green has developed lead-acid battery recycling technology with zero air emissions.
3. Devic Earth – Their air pollution control device, Pure Skies, works to reduce air pollutants.
Renewable Energy Startups in India
Given the rising demand for energy, renewable energy startups are stepping in to produce sustainable energy solutions.
1. CleanMax Enviro Energy – A major player in the renewable energy market, offering long-term energy systems to clients.
2. Exponent Energy – Focused on developing fast-charging technologies for electric vehicles.
3. Freyr Energy – Specializes in solar panel solutions for both residential and commercial sectors.
Electric Mobility Startups in India
With rising fuel costs and pollution levels, electric mobility is gaining traction. Supported by government incentives, the sector has seen a surge in infrastructure and innovation.
1. Magenta – This startup offers electric mobility solutions for logistics, including fleet management and charging services.
2. Yulu – Yulu provides an app-based bicycle rental service for urban commuters.
3. Ather Energy – Ather is known for manufacturing advanced e-scooters with features like fast charging and long-lasting batteries.
Waste Management Startups in India
Waste management is crucial for minimizing toxic waste production. The government has supported waste management startups, fueling growth in this sector.
1. BuyOFuel – Converts biomass waste into biofuels as an alternative to fossil fuels, with 90% active and repeat users.
2. Recykal – Connects waste generators, processors, and government entities through its digital platform.
3. Attero Recycling – Focuses on e-waste recycling, recovering valuable metals from electronic waste.
Conclusion
Eco-friendly startups offer multiple advantages, from attracting consumers to securing government support and investor interest. India’s eco-friendly startups are not only
addressing urgent environmental concerns but are also creating products that cater to a growing market for sustainable goods. Industries like renewable energy, waste management, electric mobility, and cleantech are evolving rapidly, driven by consumer demand and innovation.
For those interested in sustainable startup trends, the Global Startup Summit by 21BY72 offers valuable insights and networking opportunities with industry leaders, investors, and other entrepreneurs. Explore our website for more information!
FAQs
1. What is a sustainable startup?
A sustainable startup focuses on reducing environmental impact through eco-friendly products and services, contributing to a safer, greener future.
2. What are the benefits of starting an eco-friendly business?
Eco-friendly businesses benefit society by conserving resources, reducing pollutants, and catering to environment-conscious consumers and investors.
3. How can I raise funds for an eco-friendly startup in India?
Funding can come from government grants, impact investors, venture capitalists, or green investment funds. Networking events are valuable for connecting with investors focused on eco-friendly ventures.
