Indian sustainability startups are currently at the forefront in terms of handling critical environmental challenges. They are emerging with innovating solutions frequently for a greener future. Key Communications recently conducted a survey and it reports that the startups are in need of urgent support to make their journey less struggling.
The survey reveals that more than 60% of sustainability startups in the country believe that they need stronger government backing with respect to growth and funding. Currently there are about 6,600 cleantech startups in India and such ventures are important in addressing the growing threat of pollution as well as climate change.
The demand for green innovation is rising, but many startups are struggling with high upfront costs of sustainable projects. They are facing financial burden and this tend to slow down their progress. Some of them are even discouraged from implementing new ideas. Startups are looking for streamlined regulations and policies to make their ideas to be implemented seamlessly. Some programs like the FAME scheme have helped in the promotion of electric vehicles, but it is learned that more such policies are required.
One key insight is the role of consumer awareness in driving change. Key Communications co-founder Manish Sharma pointed out that better education about eco-friendly products can empower people to make greener choices. Startups need dedicated platforms to tell their stories and connect with consumers.
Collaboration is another area where India can improve. Many startups highlighted the need for partnerships among businesses, the government and research institutions to share resources as well as ideas. Achieving India’s ambitious Net Zero Goal by 2070 requires everyone to work together.
