New Delhi, 20 November 2024: The tech sector is one of the fastest-growing industries globally, but it also carries a significant carbon footprint. The world cannot race to the much needed low-carbon future, if the tech sector is left behind. Recognizing this imperative, the AIC-Synapses Innovation Foundation, in collaboration with Microsoft, launched the Tech Sector Decarbonisation Challenge in September 2024. By calling on startups with advanced solutions and a Technology Readiness Level (TRL) of 4 or higher, the challenge aimed to identify and support scalable innovations that would enable the tech industry to reduce its carbon emissions and work toward net-zero goals. TRL 4 represents the stage where key technology components have been validated in a laboratory environment, demonstrating proof of concept, but have yet to be tested in operational or real-world settings. Yesterday, we announced the finalists.
Throughout the challenge, startups presented innovative ideas spanning Energy Transition, Circular Economy, Energy-Efficient AI and Machine Learning, and Carbon Markets—all targeting crucial pathways to a sustainable tech sector. The top 12 selected participants had the unique opportunity to showcase their cleantech innovations at the Innovation Challenge Awards. Each finalist gained access to up to $150,000 in Microsoft Azure credits to advance their projects, specialized training, and incbation support from Synapses. These winners will also be evaluated by Synapses for potential investments The details of the shortlisted startups have been attached at the end.
Ruchira Shukla, Co-founder and Managing Partner of Synapses, said, "Large corporations are key stakeholders in the journey to net zero as they pilot new innovations and support startups with product iterations and feedback, and in the process reduce their own carbon footprint by deploying these solutions. Microsoft has been a leader on this front with a range of global initiatives focused on climate action and sustainability. Synapses supports engineering and science innovations in ClimateTech, helping them grow to become global market leaders. We are excited about this partnership with Microsoft in furthering the decarbonization of the technology sector."
"At Microsoft, we are committed to harnessing the power of technology to tackle the world’s most urgent challenges, with climate change at the forefront. By partnering with AIC-Synapses on the Tech Sector Decarbonisation Challenge, we’re not just supporting innovation but empowering a new wave of startups to create impactful solutions that will transform the tech industry’s environmental footprint. This challenge is a critical step in accelerating the transition to a sustainable, net-zero economy, and we’re excited to be part of the journey towards a cleaner, greener future,” said Alok Lall, COO, Microsoft India & South Asia.
As the program partner, Microsoft was instrumental in the program's success, actively participating in jury sessions to select the top 12 startups from a competitive pool of 166 applicants. Their support extended beyond selection, as they amplified the call for applications, helping to attract high-potential innovators. The program's culmination took place at Microsoft’s office, providing a fitting venue for showcasing groundbreaking solutions in a collaborative, industry-leading environment.
This initiative offered participants a valuable platform to present their technology-driven innovations to an esteemed panel of experts. The panel featured prominent incubators like AIC IIITH and Villgro; corporate leaders including Nasscom, IEEMA, MEHER Group, and Ckers Finance; and representatives from the consulting sector such as the Pan IIM Consulting Organization. Additionally, insights were shared by influential think tanks, government bodies, and leading startups like OMI Foundation, Invest India, and Promethean Energy respectively.
The Tech Sector Decarbonisation Challenge is a testament to the combined vision of AIC-Synapses and Microsoft for a cleaner, more sustainable tech industry. This initiative represents the steadfast commitment to leveraging technology for climate resilience and advancing India’s role in the global movement toward decarbonization.
About Synapses:
Synapses, is a pioneering venture capital fund dedicated solely to identifying and supporting STEM-based solutions for climate change and health. Founded by IIT alumni and veteran investors, Ruchira Shukla and Karthik Chandrasekar, Synapses, a US$ 125 million venture fund, fills a critical gap between STEM (Science, Technology, Engineering and Mathematics) ingenuity and commercialisation by backing STEM start-ups to tackle pressing climate and health challenges.
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