This initiative aims to enhance cooperation between European and Indian Small and Medium-sized Enterprises (SMEs) and start-ups in the clean technology sector.
Published Date – 9 April 2024, 06:32 PM
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New Delhi: The European Union (EU) and India have joined forces to promote collaboration among start-ups working on Battery Recycling Technologies for Electric Vehicles (EVs) through a matchmaking event.
According to a press release, launched under the India-EU Trade and Technology Council (TTC), this initiative aims to enhance cooperation between European and Indian Small and Medium-sized Enterprises (SMEs) and start-ups in the clean technology sector.
Announced by Prime Minister Narendra Modi and President of the European Commission Ursula von der Leyen in April 2022, the India-EU TTC seeks to foster innovation and forge stronger economic relations.
The matchmaking event provides a platform for Indian and EU start-ups in EV Battery Recycling Technologies to pitch their innovative solutions and engage with venture capitalists and solution adopters. Twelve start-ups, six from each region, will be selected to pitch their ideas during the matchmaking event scheduled for June 2024.
Following the presentations, six finalists, three from the EU and three from India, will be awarded the opportunity to visit India and the EU, respectively.
The event aims to identify, support, and promote start-ups dedicated to advancing battery recycling technologies for EVs. It also seeks to facilitate cooperation, potential trade avenues, customer relations, and investment avenues for the shortlisted start-ups.
The matchmaking event, organized under the India-EU TTC Working Group 2, offers Indian start-ups and SMEs a platform to demonstrate their expertise in battery recycling technologies.
It provides an opportunity for Indian innovators to establish strategic alliances with their EU counterparts, accelerating the development of advanced battery recycling techniques focused on waste minimization and resource sustainability. Professor Ajay Kumar Sood, Principal Scientific Adviser to the Government of India, highlighted the objective of harmonizing efforts with EU innovators to jointly develop battery recycling solutions that drive industry expansion.
Sood said, “Our objective is to harmonize efforts with EU innovators to jointly develop battery recycling solutions that drive industry expansion. We are dedicated to fostering a collaborative environment where sustainability and innovation form the cornerstone of a flourishing circular economy.”
Marc Lemaitre, Director-General for Research and Innovation at the European Commission, emphasized the importance of collaboration in the EV Battery Recycling industry to unlock innovative possibilities leading to a green and circular economy.
Lemaitre said, “The match-making event is a step-ahead to unlock innovative possibilities leading to a green and circular economy. We encourage innovators from the EU to seize this opportunity and explore potential collaborations with their Indian counterparts.” Interested start-ups from India and the EU are invited to submit their Expressions of Interest by April 30.
