BioCompute, a DNA-based data storage start-up, has emerged as the recipient of India’s largest non-equity climate entrepreneurship grant, valued at INR 3.1 million. This significant accomplishment was announced during SusCrunch 2024, a prestigious event organized by Sustainability Mafia. The grant, jointly offered by Pilani Innovation and Entrepreneurship Development Society (PIEDS) and SusMafia, aims to propel BioCompute to the forefront of the global battle against climate change.
In a statement regarding the grant, Priya Shah, General Partner of Theia Ventures, expressed the firm’s commitment to catalysing USD 100 million in investments into Indian climate tech start-ups by 2030. This injection of funds is intended to support and elevate high-impact climate-tech start-ups across India, marking a pivotal moment in the ongoing fight against the climate crisis.
SusCrunch 2024 was more than a grant ceremony; it served as a platform for showcasing pitches from ten other carefully selected climate action start-ups in India. These innovative ventures are currently in the revenue generation phase and on the brink of significant growth through large-scale implementations of their climate solutions. The energy and enthusiasm emanating from these ‘Mafiosos’ is undeniable – a testament to the burgeoning climate action ecosystem.
Kuldeep Jain, Founder and Managing Director of CleanMax, commented on the evolution of the climate action landscape since the inception of CleanMax in 2011. With SusMafia spearheading the movement, there has been a noticeable shift in the community, signifying a strong mobilization towards combating climate change. The impact and resonance of this transformation were palpable at the inaugural SusCrunch event.
The importance of nurturing and empowering climate action entrepreneurs was further underscored by SusMafia’s programme, SusVentures. This initiative aims to provide mentorship and support to early stage climate action entrepreneurs. The recent graduation of the first cohort, in collaboration with the esteemed Birla Institute of Technology and Science, Pilani (BITS Pilani), marked a pivotal moment in the program’s journey. The first cohort consisted of 48 student entrepreneurs from various engineering disciplines across the Hyderabad, Goa, and Pilani campuses of BITS Pilani. Together, they worked on developing 14 start-ups in sectors such as Circular Economy, Energy Efficiency, EV, and Solar.
The recognition and support extended to BioCompute and other climate action start-ups in India is a clear indication of the growing momentum in the fight against climate change. With initiatives like SusVentures and the generous grant from SusMafia, the stage is set for continued innovation and progress in addressing the global climate crisis. As more and more start-ups join the ranks in championing climate solutions, the future looks promising in the battle to protect our planet.