International Solar Alliance in collaboration with Invest India has provided a grant of USD 60,000 for the four winners of SolarX Startup Challenge (Asia-Pacific Chapter) at COP 28.
In addition they will be provided acceleration support encompassing mentorship, investor connections and market access opportunities. This is a commitment in identifying and fostering innovative solutions in the solar energy sector.
This year, the Challenge has identified top 20 startups from across Asia-Pacific, including Sri Lanka, Australia, Papua New Guinea, UAE, Saudi Arabia, and other countries. Fout of the twenty selected start-ups are from Sri Lanka. These start-ups were introduced to the Challenge in a workshop organised by the High Commission of India earlier this year, in partnership with Invest India and the International Solar Alliance.
The four Startups recipients are: 1. Bio Lanka Exports (Pvt) Ltd (offers eco-friendly, solar-powered container homes, minimizing material use and construction waste for residential and commercial needs.) 2. Magicbit Pvt. Ltd. (They provide an open-source, real-time monitoring and analytics platform for solar energy, integrating IoT, cloud, and AI technologies for high scalability and real-time visibility) 3. Syntax Genie (Pvt) Ltd (The company’s AI-driven platform optimizes solar mini-grid management, addressing energy poverty in remote Asia-Pacific areas with scalable and sustainable solutions) 4. Bluechip Technologies Asia (they leverage AI, IoT, GPS, and drone technology to optimize solar project deployment across the entire lifecycle, ensuring efficient site selection and planning.)
Invest India also organised their second round of the SolarX Startup Challenge workshop in Colombo on 12 December 2024.
This Physical Acceleration Workshop will be a capacity-building event to further empower startups in the renewable energy sector with mentorship sessions, interactive discussions, and pitching opportunities.
“It will also feature field visits to solar and renewable energy facilities in Sri Lanka, providing startups with hands-on exposure to the local ecosystem,” an official from the organisers said.
