Cleantech Forum comes to Mumbai

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: Cleantech venture investment has hit an all-time high. It has already surpassed last year’s total of $6.0 billion and stands at $6.6 billion, according to the just released figures from the Cleantech Group, which is a global network of investors and companies representing more than $3 trillion in assets. Venture capitalist Vinod Khosla chairs its India advisory board. The group sees a lot more potential in India. And with reason. Cleantech investment more than doubled to $290 million in 2007 over the previous year. There has been continued growth through 2008.

It’s a little wonder that the group is organising its inaugural Cleantech Forum in Mumbai on October 7. The theme of the three-day event is ‘From IT Outsourcing to Cleantech Resourcing’. The event is expected to act as a platform for networking and deal flow to spur the growth of clean technology in the country.

Says Khosla, “India has the potential to become an innovation hub for clean technology if there is sufficient focus on it. India can replicate its software success in clean technology. There is no doubt about it. Cleantech industry can be even bigger than IT.”

The Mumbai event can turn out to be an ideal launch pad for India’s clean technology foray. Elaborates Jaswinder Kaur, Cleantech Group’s country director for India, “Our objective is to aggregate the clean technology community, particularly the financial community, including institutional investors, sovereign funds, private equity funds, angle investors and high net worth individuals. The innovator and entrepreneur communities are the other pieces. The idea is to position India as a clean technology destination both as a producer and a consumer and accelerate the development and deployment of clean technology in India.”

Clean technology isn’t just about renewables, but includes water filtration, sustainable agriculture and waste management solutions.

The event is not only about talking, but also about walking the talk. Says Kaur, “Fourteen investment opportunities will be showcased. We expect concrete outcomes in a few months after investors do due diligence.” It’s keeping in with the fact that the cleantech forums, which are held all over the world, not only showcase market-based clean technology solutions, but also provide opportunities for networking to raise finances for the industry.