Transition VC, a venture capital fund with a focus on transition-oriented investments, has joined forces with IEEE (The Institute of Electrical and Electronics Engineers, Inc.) to introduce the “Net Zero Warriors” initiative. The collaborative effort was formalised through the signing of a memorandum of understanding (MoU) in Bengaluru on July 13th. The primary objective of this initiative is to enable numerous startups, originating from both the academic community and young professionals, to develop advanced technological solutions in sectors undergoing transition, according to an official release.
The “Net Zero Warriors” initiative is dedicated to addressing the dual challenge of environmental preservation and economic growth, aligning with India’s energy security requirements. To meet the country’s economic goals, India is projected to experience a threefold increase in per capita primary energy consumption by 2047. Consequently, it becomes crucial to prioritise decarbonisation efforts, considering India’s commitment to achieving net zero emissions by 2070, the release mentioned.
“Net Zero Warriors” aims to create a roadmap for four important groups: Engineering Students, Start-ups, MSME Industry, and the IEEE Standards Association. The initiative aims to promote awareness of deep-tech opportunities and encourages young engineers and entrepreneurs to tackle innovation challenges with commercialisation goals. It offers support through capital funding, sector expertise, and mentorship to facilitate inventive solutions and determined entrepreneurs. Furthermore, it intends to enable existing engineering businesses to expand into deep technologies such as AI, Data Analytics, Robotics, Blockchain, Computational Intelligence, and Cognitive Computing. The initiative also provides a platform for all stakeholders in India’s energy transition to contribute to new standards, regulations, and policy recommendations, as per the release.
“The battles against climate change are many. The “Net Zero Warriors” program by IEEE and powered by Transition Venture Capital is focused on enabling young engineers, professionals, academicians, startups, entrepreneurs, investors to participate in such battles and create large value. The next generation of unicorns shall emerge from the winners of these battles. Join the “Net Zero Warriors” movement and enable a better world,” Mustafa Wajid, co-founder, general partner, Transition VC, said.