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India to launch venture fund for green technologies
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India to launch venture fund for green technologies
Bangalore: The Indian government is all set to launch a venture fund to encourage green technology research. The size of the fund and other specifics will be determined by the National Mission on Strategic Knowledge for Climate Change (NMSKCC).
India has decided to link all academic institutions that work on climate change. NMSKCC, which is in the process of preparing a document for promoting green technologies, said that it would identify key academic institutions that will become centers of excellence in climate change related research. As reported by TechOnline India, this green tech venture fund initiative is separate from a government plan launched in 2007 to subsidize new companies to manufacture photovoltaic cells and panels.
Praising the government`s green technology plan, Poornima Shenoy, President of ISA (India Semiconductor Association) said, "The clean tech sector has seen huge interest from venture funds and private equity investors globally. This is the right time that this is happening in India." Earlier in the week, NXP Semiconductors agreed to provide electronics components for the manufacturing operations at Tata BP Solar.
Source:
http://www.siliconindia.com/shownews/India_to_launch_venture_fund_for_green_tech
India has decided to link all academic institutions that work on climate change. NMSKCC, which is in the process of preparing a document for promoting green technologies, said that it would identify key academic institutions that will become centers of excellence in climate change related research. As reported by TechOnline India, this green tech venture fund initiative is separate from a government plan launched in 2007 to subsidize new companies to manufacture photovoltaic cells and panels.
Praising the government`s green technology plan, Poornima Shenoy, President of ISA (India Semiconductor Association) said, "The clean tech sector has seen huge interest from venture funds and private equity investors globally. This is the right time that this is happening in India." Earlier in the week, NXP Semiconductors agreed to provide electronics components for the manufacturing operations at Tata BP Solar.
Source:
http://www.siliconindia.com/shownews/India_to_launch_venture_fund_for_green_tech
