IIM Calcutta Innovation Park unveils ₹50 Cr Cleantech Fund for sustainability startups
In a landmark move that could reshape India’s green entrepreneurship landscape, IIM Calcutta Innovation Park (IIMCIP) has announced the launch of a ₹50 crore Cleantech Fund dedicated to nurturing early-stage startups focused on clean energy, climate resilience, sustainable agriculture, and waste-to-value solutions. The fund, to be deployed over the next 12–18 months, represents one of the most significant institutional pushes towards sustainability-led innovation in recent years.
Cleantech fund to boost India’s green innovation
The newly launched Cleantech Fund is designed not only to provide capital but also to create a holistic growth ecosystem for startups. Startups selected under this initiative will gain access to mentorship, market linkages, and strategic partnerships with corporates, government agencies, and impact investors. This positions the programme as a full-stack platform where innovation is accelerated through both funding and ecosystem support.
Ajay Jain, Chairman of IIMCIP, called this initiative a “turning point in how India nurtures sustainability-led enterprises.” He stressed that the coming wave of Indian innovation will be shaped by cleantech and sustainability, with success measured not just in valuations but in societal transformation. “For us, success is not just about creating unicorns, but about transforming lives and communities,” Jain noted.
Mission 2047: A billion lives to be impacted
Alongside the Cleantech Fund, IIMCIP unveiled ‘Mission 2047’, its long-term vision to positively impact one billion lives by the year 2047. This ambitious roadmap includes scaling up women and rural entrepreneurship, strengthening innovation ecosystems in underserved regions like Eastern and Northeastern India, and mobilising capital through CSR, philanthropy, and investor-driven funds.
This mission ties into India’s broader developmental goals, ensuring that sustainability-driven enterprises are at the heart of social and economic growth. By linking capital with inclusive development, IIMCIP is positioning itself as a catalyst for nationwide transformation.
Proven track record of enabling impact
Since its inception in 2014, IIMCIP has consistently built a strong foundation for entrepreneurship in India. The organisation has:
- Mentored over 2,000 startups across sectors
- Seed-funded more than 130 ventures
- Facilitated ₹2,000+ crore in follow-on investments
- Built a portfolio valued at ₹8,000 crore
- Helped generate 35,000+ jobs
- Positively impacted the lives of 9.5 million people
Among its success stories are ‘Dehaat’, a pioneering agritech platform serving farmers with advisory and supply chain solutions, and ‘5C Network’, a health-tech leader in medical AI. These examples highlight how IIMCIP’s ecosystem has enabled startups to scale meaningfully while driving social good.
CEO Subhrangshu Sanyal highlighted that the launch of the Cleantech Fund was the “natural next step” in IIMCIP’s journey. “Over the past decade, we have proven that structured support combined with capital creates sustainable impact. This fund will take that learning to the cleantech sector, which is now at the forefront of India’s innovation journey.”
Why the cleantech fund matters now
The launch of the ₹50 crore Cleantech Fund comes at a critical juncture for India. As the country works towards its Net Zero by 2070 commitment, the need for climate-smart solutions in agriculture, energy, waste management, and resilience has never been greater. Global investors are also increasingly looking at India as a fertile ground for green startups that can solve pressing local challenges while offering scalable global solutions.
By directly investing in early-stage startups, IIMCIP is filling a crucial gap in the funding ecosystem. Early-stage cleantech ventures often struggle to attract patient capital, as their innovations require longer gestation periods compared to pure-play digital startups. With this fund, startups will have access to both risk capital and institutional mentorship to refine and scale their solutions.
Building a green entrepreneurship ecosystem
Beyond financial support, IIMCIP’s model emphasizes ecosystem-building—a factor that has made it one of the most respected startup accelerators in India. The Cleantech Fund will integrate startups into a network of investors, corporate partners, policymakers, and research institutions, thereby reducing entry barriers and improving market readiness.
The fund also aligns closely with India’s startup policy frameworks, sustainability commitments, and the UN Sustainable Development Goals (SDGs), particularly those focusing on climate action, affordable clean energy, and responsible consumption.
India as a global sustainability hub
The launch of the Cleantech Fund is more than just a financial announcement—it signals India’s readiness to become a global hub for sustainability innovation. With its combination of abundant natural resources, young entrepreneurial talent, and a supportive policy environment, India is well-positioned to lead the cleantech revolution.
If Mission 2047 is realized, IIMCIP could catalyze not just startups but a national movement for sustainable enterprise creation, helping India emerge as a model for balancing growth with environmental stewardship.
For more in-depth analysis and inspiring climate news, click here.
