Indian Govt. Debuts Startup Challenge to Promote 100 Water Sector Startups
Hardeep Singh Puri, the Minister of Petroleum and Natural Gas, has launched a startup challenge with the goal of empowering 100 water-related incubators.
The project is called the 'India WaterPitch-Pilot-Scale Startup Challenge,' and it was founded by the Ministry of Housing and Urban Affairs.
The shortlisted startups will receive a grant of INR 20 lakhs as part of the programme. In addition, the Ministry will provide the selected firms with money and guidance.
"The initiative aims at empowering startups in the water sector to grow through innovation and design that will drive sustainable economic growth and generate employment opportunities", said Ministry in a statement.
Minister Puri made the announcement at a ceremony in New Delhi as part of the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) 2.0.
Puri praised local startups during the occasion and assured them of the Centre's full and active support.
He further said, “Startups are the flavour of the season as the number of unicorns in the country has jumped by leaps and bounds.”
Puri underlined, “The scheme will ensure water security in the country, reduce its transportation costs, reduce groundwater contamination, and increase water utilisation capacity. For the success of the Mission, startups will have to play a meaningful role – by bringing in innovative ideas, technology, novel delivery mechanisms, among other things.”
Several startups also presented their creative ideas and cutting-edge technologies at the event.
Last October, the Union Cabinet approved AMRUT 2.0, which aims to make Indian towns "water secure." The plan aims to attain universal water supply coverage by establishing 2.68 crore tap connections and 2.64 crore sewer connections.
The initiative is significant since India is experiencing a severe water shortage. The problem is particularly acute in rural places, where women must travel hundreds of kilometres merely to gather a pail of water, with many being forced to drink contaminated water.
According to 2019 research by NITI Aayog, India is experiencing its biggest water crisis in history, with approximately 600 million people experiencing extreme to severe water stress. According to the research, India ranks 120th out of 122 countries in terms of water quality, with roughly 70% of the country's water contaminated.
In such circumstances, the necessity for creative solutions becomes even more critical.
Many Indian companies have responded by developing solutions that provide a ray of optimism.
WEGoT Utility, a Chennai-based water management business, raised $1.5 million in pre-Series A funding led by Gruhas Proptech, DLF Family Office's Rahul Talwar, and Apollo Hospitals' Harshad Reddy in December 2021.
Uravu Labs, a watertech firm based in Bengaluru, raised an undisclosed sum in a pre-seed fundraising round headed by Speciale Invest in December. Following that, Gurugram-based water ecommerce firm OwO raised $3 million in a seed stage.
The global market for water and wastewater technologies was valued at $64.4 billion in 2018, according to a survey. By 2023, this figure is predicted to reach $83 billion, with a CAGR of 5.2 percent.
The project is called the 'India WaterPitch-Pilot-Scale Startup Challenge,' and it was founded by the Ministry of Housing and Urban Affairs.
The shortlisted startups will receive a grant of INR 20 lakhs as part of the programme. In addition, the Ministry will provide the selected firms with money and guidance.
"The initiative aims at empowering startups in the water sector to grow through innovation and design that will drive sustainable economic growth and generate employment opportunities", said Ministry in a statement.
Minister Puri made the announcement at a ceremony in New Delhi as part of the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) 2.0.
Puri praised local startups during the occasion and assured them of the Centre's full and active support.
He further said, “Startups are the flavour of the season as the number of unicorns in the country has jumped by leaps and bounds.”
Puri underlined, “The scheme will ensure water security in the country, reduce its transportation costs, reduce groundwater contamination, and increase water utilisation capacity. For the success of the Mission, startups will have to play a meaningful role – by bringing in innovative ideas, technology, novel delivery mechanisms, among other things.”
Several startups also presented their creative ideas and cutting-edge technologies at the event.
Last October, the Union Cabinet approved AMRUT 2.0, which aims to make Indian towns "water secure." The plan aims to attain universal water supply coverage by establishing 2.68 crore tap connections and 2.64 crore sewer connections.
The initiative is significant since India is experiencing a severe water shortage. The problem is particularly acute in rural places, where women must travel hundreds of kilometres merely to gather a pail of water, with many being forced to drink contaminated water.
According to 2019 research by NITI Aayog, India is experiencing its biggest water crisis in history, with approximately 600 million people experiencing extreme to severe water stress. According to the research, India ranks 120th out of 122 countries in terms of water quality, with roughly 70% of the country's water contaminated.
In such circumstances, the necessity for creative solutions becomes even more critical.
Many Indian companies have responded by developing solutions that provide a ray of optimism.
WEGoT Utility, a Chennai-based water management business, raised $1.5 million in pre-Series A funding led by Gruhas Proptech, DLF Family Office's Rahul Talwar, and Apollo Hospitals' Harshad Reddy in December 2021.
Uravu Labs, a watertech firm based in Bengaluru, raised an undisclosed sum in a pre-seed fundraising round headed by Speciale Invest in December. Following that, Gurugram-based water ecommerce firm OwO raised $3 million in a seed stage.
The global market for water and wastewater technologies was valued at $64.4 billion in 2018, according to a survey. By 2023, this figure is predicted to reach $83 billion, with a CAGR of 5.2 percent.
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