Inspire Clean Energy Wins Mercom India’s Second Startup Pitch Competition
August 2, 2024 – Mercom India named Inspire Clean Energy, a Mumbai-based solar asset, operations, and maintenance management company, the winner of its coveted startup pitch competition at the 2024 Mercom India Renewables Summit held on July 25-26.
Inspire Clean earned the distinction with its anti-theft lock system, designed to eliminate copper cable theft in solar projects, a significant problem plaguing large-scale solar projects in India. With three product options available — Plain Vanilla, Hooter, and IoT Sensor — these devices secure cables, making them hard to remove without triggering alarms or real-time alerts.
The company emerged from a field of India’s most promising clean energy startups that participated in the pitching competition. The startup competition added a dynamic entrepreneurial spirit dimension to the Mercom India Renewables Summit, an exclusive annual gathering where energy industry leaders and policy decision-makers convene to shape India’s clean energy future.
“At Mercom, we are committed to fostering innovation and supporting startups that drive the energy transition. The Mercom India Renewables Summit is the perfect venue to showcase the entrepreneurs and companies developing the clean energy technologies of the future,” said Raj Prabhu, CEO of Mercom Capital Group.
The Mercom India Renewables Summit gave the eight startups a unique opportunity to showcase their innovative products to investors and industry executives who would make up their potential customers. The event is an important initiative from Mercom India to promote technology, innovation, and entrepreneurship in India’s renewable energy sector.
The competition finalists were selected from a pool of applicants from across India who pitched their ideas to an expert panel of judges, including: Shishir Garemalla, Head of International BD at Kiwa PVEL, Mayank Mohapatra, Corporate Innovation Lead at Go Massive, Shankar Sivan, Partner at Refex Capital, and Mercom’s CEO, Raj Prabhu.
After winning the competition, Inspire Clean Energy was awarded prizes that included:
- Cash prize of ₹100,000
- Advertising and marketing package worth $7,500 from Mercom India
- Certificate from Skill Council of Green Jobs, a Government of India Initiative
The other seven finalists were Buyofuel, SuryaLogix, TriNANO Technologies, Sandha Energy Innovations, Prayogik, MOTORAMA EV and Urja Sathi. The lineup demonstrated India’s vibrant startup ecosystem in clean energy, which leverages cutting-edge technologies and innovative business models to drive the country’s transition to a cleaner, more sustainable energy future.