New Energy Nexus and Climate Collective form New Energy Nexus India
May 21, 2020
New Delhi, 21 May 2020 – New Energy Nexus and the Climate Collective are teaming up to form New Energy Nexus India. The partnership will build on the successes of Climate Collective’s initiatives in the region and leverage the robust global network of New Energy Nexus to quickly create the largest clean energy startup ecosystem in South Asia.
“South Asia is one of the powerhouses of the energy transition, we’re excited to officially support the startup community in the region. To combine forces with Climate Collective is to create true synergy – one plus one equals four or more for the energy ecosystem in-country and abroad,” said Danny Kennedy, CEO of New Energy Nexus. “Our experience dating back to 2004 in California, means we can bring human and financial capital to entrepreneurs in the region, together we can accelerate the transition from traditional energy dependency.”
In 2019, through an EU accelerator program called Climate Launchpad, Climate Collective worked with over 210 startups across 15 states throughout India, Sri Lanka, Maldives, and Nepal. In 2020, the newly formed New Energy Nexus India is planning to increase this presence in South Asia to Bangladesh and Bhutan.
“We are excited to be working with New Energy Nexus and leveraging their tremendous experience in supporting the transition to a clean energy economy through startup and innovation programs around the world” says Pratap Raju, Country Director at New Energy Nexus India.
Supporting startups through training, hackathons, and accelerators are key ways New Energy Nexus and Climate Collective will work together towards creating the ecosystem in South Asia. Additionally, New Energy Nexus has worked with Ckers Finance in India since 2018, investing $5 million in their Sustainable Energy Bond, primarily used to scale-up new models that accelerate the development of new distributed solar segments.
New Energy Nexus partnerships and work in India dates back to 2016, when we collaborated with the Climate Collective to run India’s first Solar Hackathon in Delhi. Since then, New Energy Nexus and the Climate Collective have continued to grow accelerator programs in the region, sharing information and supporting each other. After four years of working together, the natural next step was to formalize our relationship and form New Energy Nexus India.
An overview of the key programs being developed by New Energy Nexus India:
New Energy Nexus Startup School 2019-2020
An online course for early-stage clean energy entrepreneurs in emerging markets in Asia.
Sustainable Energy Bond investment into cKers in India 2019-2020
New Energy Nexus will grow cKers Finance’s Sustainable Energy Bond issuance for India. These bonds are a new and innovative instrument that allow impact investors to finance sustainable energy assets exclusively, as well as track the impact of their capital on an ongoing basis. They will primarily be used to scale-up newer models that accelerate decentralized solar segments. These include the nascent pay-as-you-go models in India for residential and commercial solar systems, solar pumps, and off-grid solar for micro/mini-grids segments. Part of the proceeds will also be invested in the emerging ESCOs (energy service company models) that promote energy efficiency. We recently upsized the fund from $3m to $5m invested.
Climate Launchpad (Climate KIC) accelerator
ClimateLaunchpad is a pre-revenue accelerator program, part of ClimateKIC, the EU’s leading climate innovation platform. ClimateLaunchpad, present in 65 countries in 2019, helps early-stage entrepreneurs understand whether their product or solution has sufficient market potential to proceed. In India and South Asia, we have built the largest early-stage cleantech startup platform through this program, with over 210 startups joining our India, Sri Lanka, and Maldives programs, in 2019.
Climate Runway (DST) accelerator
Climate Runway is a follow-on accelerator to Climate Launchpad, which currently supports 10 startups primarily in western India. We have partnered with Science & Technology Park Pune to run the accelerator, and are funded by the Department of Science and Technology, Government of India. On May 18th, we held a “demo day” for the ten companies, virtually, and had dozens of investors and representatives of major corporates, along with Dr. Anita Gupta, Associate Head (Innovation and Entrepreneurship) at Department of Science and Technology, Govt. of India, and other DST officials.
Climate Ready for Women pre-accelerator
Climate Ready for Women development program aims to increase the number of women founders in climate and cleantech entrepreneurs looking to join accelerators or enter the market. It is a pre-accelerator to Climate Launchpad and is supported by Kerala Startup Mission and is expected to conclude its pilot program in June, 2020.
About New Energy Nexus
New Energy Nexus is a non-profit international organization that strives towards an abundant world with a 100% clean energy economy for 100% of the population in the shortest time possible. To achieve this goal, we support diverse clean energy entrepreneurs with funds, accelerators, and networks. We started in California in 2004 and now operate programs in New York, China, India, Southeast Asia and East Africa. For more information, please visit newenergynexus.com.
About Climate Collective
The Climate Collective is a non-profit focused on unleashing the innovation and entrepreneurial talents of people to solve the myriad environmental challenges that we face in the region. For this, the Collective is building up local climate entrepreneurship ecosystems throughout South Asia through a regional partnership model to execute programs across the Subcontinent.