New Delhi: Recognizing the need for effective decarbonization initiatives for the tech sector, AIC-Synapses Innovation Foundation collaborated with Microsoft to launch the Tech-sector Decarbonization Challenge 2024. The challenge aimed to identify and support scalable innovations that could help the tech industry reduce its carbon footprints and work towards net zero goals.
As part of the contest, startups with Technology Readiness Level (TRL) of 4 or higher presented ideas in the areas of energy transition, circular economy, energy-efficient AI and machine learning, and carbon markets. The top 12 selected candidates were allowed to present their cleantech innovations at the Innovation Challenge Awards. Each finalist got funding support as $150,000 in Microsoft Azure credits to advance their projects, specialized training, and incubation support from Synapses.
Ruchira Shukla, Co-founder and Managing Partner of Synapses talked about the significance of the contest and the partnership with Microsoft. According to her, large corporations are key stakeholders in the journey to net zero as they pilot innovations and support startups with product iterations and feedback. In the process, they reduce their own carbon footprint by deploying these solutions. Microsoft has been a leader on this front with a range of global initiatives focused on climate action and sustainability and this partnership with Synapses will support engineering and science innovations in ClimateTech, helping both the companies to become global market leaders.
Alok Lall, COO of Microsoft India & South Asia highlighted Microsoft’s role in decarbonizing the tech sector. He explained that Microsoft while keeping climate change at the forefront, makes efforts to harness the power of technology to tackle the world’s most urgent challenges. According to him, by partnering with AIC-Synapses on the Tech Sector Decarbonisation Challenge, the company is not only supporting innovation but empowering a new wave of startups to create impactful solutions that will transform the tech industry’s environmental footprint.
This initiative offered participants a valuable platform to present their technology-driven innovations to an esteemed panel of experts. The panel featured prominent incubators like AIC IIITH and Villgro, corporate leaders including Nasscom, IEEMA, MEHER Group, and Ckers Finance, and representatives from the consulting sector such as the Pan IIM Consulting Organization. In addition, insights were shared by influential think tanks, government bodies, and leading startups like OMI Foundation, Invest India, and Promethean Energy respectively.
