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India’s green tech start-ups receive 2millions from US


  • US Ambassador to India Richard Verma said, the projects which are selected under innovative and clean energy will receive grants upto $2 million from PACEsetter Fund.
  • Partnership to Advance Clean Energy (PACE) setter Fund, a joint $7.9 million fund, established in June by the governments of India and the United States in November 2009
  • The objective of this is to push the start-up projects on clean energy in India.
  • New Ventures India, Insitor Management, Global Social Business Incubator at Santa Clara University and USAID/India are collaborating on these projects.
  • Seven US agencies, including the Department of Energy (DOE), Department of State (DOS), and United States Agency for International Development (USAID), are working with the Indian ministries building a strategic partnership on energy security, clean energy and climate change
  • SoftBank, Bharti and Foxconn have also formed a fund named SBG Cleantech, which will back cleantech start-ups as well as bid for solar plant tenders ‎under the National Solar Mission programme and state-specific solar programs.

source :BS

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