Clean technologies or cleantech is an umbrella term referring to the products and services that generate superior commercial benefits to customers while addressing environmental concerns. Cleantech can be classified under different components, such as renewable energy generation, energy storage, energy efficiency, biofuels, cleaner fossil fuel processes, water management, waste management, pollution reduction, and digital innovation in operations. The development and use of clean technology are some of the most effective ways to combat climate change and other environmental issues in our country.
Today, India has some of the leading clean technologies available in the world, particularly in industrial sectors. However, clean technology as a theme still finds low traction amongst the consumers, in spite of the global acceptance and calls for environment-friendly technologies. Innovation in low carbon technologies is happening at some of the premier research institutions and R&D labs of some organizations, but a strong impetus is a necessity to turn these concepts into reality.
The challenges are rooted in the lack of capacity in reaching out to new sectors; understanding of clean technology benefits; capacity to scout for and nurture new ideas for product diversification; customer confidence in the technology, and lack of word-of-mouth from beneficiaries to others. Essentially, all these factors lead to an increase in the cost to acquire customer (CAC) for the start-up, and prolonged exposure to high CAC gradually compels the company to fold.
CII - Sohrabji Godrej Green Business Centre has formed the Green Entrepreneurship Council (GEC), with a vision to facilitate India become one of the leaders in cleantech entrepreneurship by 2025. The council aims to accelerate the business growth of cleantech start-ups by creating an interactive ecosystem of innovators, implementors, mentors and investors to propel innovation in technologies sought by the market and support faster implementation of these proven innovations.