The initiative will Support Startups and businesses in the Clean Cooking Sector with facilitating capital raising and Personalized Mentorship
The last date for startups and companies to apply for registration for the programme is August 30, 2023
Modern Energy Cooking Services (MECS) Programme, in association with Finovista as the India In-Country Partner, have recently launched a one-of-its-kind Investor Pitching & Connect Initiative in Clean Cooking 2023. The initiative primarily aims at linking investors and businesses to facilitate capital raising in the Clean Cooking segment in India.
Investor Pitching & Connect initiative in clean cooking sector
An important agenda that the programme aims to address through the initiative is the problem of the lack of access to clean cooking solutions, which is being faced by around 2.4 billion people worldwide. One of the reasons behind the problem is the financial constraints that run into a magnanimous $10 billion annually. The problem is particularly persistent in India, with many households still using traditional biomass-based solutions and having relying on firewood, cow dung cakes, and agricultural residue. Needless to say, the impact is severe both on the environment and human health.
It is this alarming concern that the Investor Pitching & Connect in Clean Cooking Initiative 2023 is aiming to resolve. No wonder the initiative is being supported by the Office of the Principal Scientific Adviser (PSA) to the Government of India as a part of its sustainable development agenda.
A MECS spokesperson said, “Our Investor Pitching and Connect Initiative is aiming to transform the clean cooking landscape and make a significant impact on people’s lives. We recognize the transformative power of clean cooking solutions and services, not just for the environment but also for improving the health of women and children who are disproportionately affected by household air pollution. This initiative will drive meaningful contributions to a greener, healthier future.”
The beauty of the Investor Pitching & Connect in Clean Cooking Initiative lies in its innovativeness to create a supportive ecosystem that connects investors with entrepreneurs passionate about modern energy-based clean cooking solutions. An additional boon shows up in the form of private investment. Private investment proves advantageous in this case as it offers steady capital injection, which can eventually be directed for different purposes like research and development, marketing, human resources, and purchase in the modern energy-based cooking arena. Most importantly, since investments in modern clean cooking solutions are heavy, multiple private investors can join hands for a shared responsibility.
Furthermore, the initiative endeavours to strengthen the capabilities of impact investors, private financiers, and financial institutions through tailored technical assistance and comprehensive insights into the clean cooking sector. By equipping stakeholders with comprehensive knowledge about the clean cooking sector, the initiative seeks to facilitate informed decision-making for the benefit of society, the economy, and the environment on the whole.
Selection under the Investor Pitching & Connect in Clean Cooking Initiative 2023 also means opening of multiple gateways beyond finance. One of the key benefits is the ability to pitch before multiple investors at the idea, seed, and scale-up stages. This is followed by 360-degree strategic business support to shortlisted innovators. Training and mentorship is a crucial add-on of this initiative, under which selected innovators will receive 1:1 mentorship on a case-to-case basis along with training from industry experts. Access to international bodies along with market access support are other advantages shortlisted entrepreneurs and ventures enjoy as a part of this celebrated programme.
Overall, this groundbreaking initiative will help elevate India’s stature as a worldwide hub for innovative clean cooking device solutions while also boosting the capacity of the manufacturers and service providers in the clean cooking segment to evolve into key solution suppliers for other nations as well.
The Investor Pitching & Connect in Clean Cooking 2023 Initiative is open to Indian companies, SMEs, startups, and innovators, who are associated with modern clean cooking solutions in various capacities like design, manufacturing, supply-chain, marketing, and funding. Entries are welcome from entities standing at all stages, ideation, pilot, and scale-up. The programme will not support entities involved in biomass and firewood-based solutions.
Interested startups and SMEs willing to participate in the Investor Pitching & Connect in Clean Cooking Initiative 2023 can apply on the link here.
The last date to apply for registration for the program is 30th August 2023. Selected startups will go through pitching sessions by October 2023.
About MECS Programme
MECS Programme is a UK Aid (FCDO) funded global research programme led by Loughborough University and the World Bank’s Energy Sector Management Assistance Program (ESMAP). By integrating modern energy cooking services into the planning for electricity access, quality, reliability, and sustainability, MECS hopes to leverage investment in renewable energies (both grid and off-grid) to address the clean cooking challenge.
MECS is implementing a strategy focused on including the cooking needs of households in the investment and action on ‘access to affordable, reliable, sustainable modern energy for all’. In seeking to spark a new approach to clean cooking, the programme researches the socio-economic realities of a transition from polluting fuels to a range of modern fuels and is open to other research and approaches that include other fuels, such as ethanol, bioLPG, or hydrogen. Whilst the research covers several clean fuels, the evidence is pointing to the viability, cost-effectiveness, and user satisfaction that energy-efficient eCooking devices provide.
About Finovista
Finovista is a Program Management Agency located in New Delhi, India. As an In-country Representative, we specialize in a range of Capacity Building Programs, including Innovation Challenge, Entrepreneurship Development Program, Investor Pitching & Connect, and Training. As a sector-agnostic consulting firm, we concentrate on a variety of fields, such as Clean Cooking, Energy, Environment, Low Carbon Growth Technology, Clean Energy, Green Finance, Result-Based Finance, Carbon Finance, and Social Enterprise Development. Our clients come from various sectors, including the Government, International Agencies, Development Agencies, Academia, and Corporates from India and around the world. We provide Conceptualization, Design, Development, and Implementation services for their Programs in India.
