Transition VC and IEEE Unite for the “Net Zero Warriors” Campaign, Cementing Partnership with MoU Signing

Transition VC, India’s pioneering VC Fund dedicated to Energy Transition, is delighted to unveil its momentous partnership with IEEE (The Institute of Electrical and Electronics Engineers, Inc.) in the inauguration of the visionary “Net Zero Warriors” initiative. The momentous MoU signing ceremony took place in Bengaluru on July 13th, signifying a major leap forward in advancing India’s journey towards achieving net zero emissions. Through this groundbreaking initiative, Transition VC and IEEE will collaboratively empower numerous startups, emerging from both academic circles and young professional talent, to offer cutting-edge deep-tech solutions across various transitioning sectors. Together, they aim to drive innovation and foster sustainable progress in the pursuit of a greener and more sustainable future for India and the world.

The “Net Zero Warriors” initiative aims to tackle the critical challenge of balancing environmental preservation and economic growth, aligning perfectly with India’s imperative for energy security. As India’s economy continues to flourish, there is a projected threefold increase in per capita primary energy consumption by 2047. In light of this trajectory, decarbonisation becomes an urgent necessity, reflecting India’s steadfast commitment to achieving net zero emissions by 2070. The initiative seeks to harmonize sustainable development with economic progress, fostering innovative solutions that will pave the way towards a greener and more prosperous future for India while fulfilling its global responsibility in the fight against climate change.

Country-wide energy transition is a complex challenge with large-scale overhauls required across industries. Some of the examples of energy transitions include Decarbonisation of the Electricity Sector, Electrification of Transportation, Net Zero in Buildings & Industry, and the utility of new energies such as Green Hydrogen. Deep tech is poised to function as a critical enabler to facilitate these large-scale implementations.

Through “Net Zero Warriors”, Transition VC and IEEE have set up an indicative roadmap envisioned for four key stakeholders: Engineering Students, Start-ups, MSME Industry, and the  IEEE Standards Association (IEEE SA). The initiative will increase awareness of deep-tech opportunities and motivate young engineers and entrepreneurs to take up a variety of innovation challenges, with clear scalable commercialisation objectives. It will help inventive solutions and determined entrepreneurs through capital support and access to sector expertise and mentorship. In addition, it will also enable the existing engineering businesses to diversify their conventional portfolio with opportunities in deep technologies including AI, Data Analytics, Robotics, Blockchain, Computational intelligence, and Cognitive Computing, among others. “Net Zero Warriors” will foster a platform where all the stakeholders in India’s energy transition journey can contribute towards the development of new standards/regulations, as well as provide key policy recommendations.

Mustafa Wajid, Co-founder & General Partner of Transition VC, expressed his thoughts on the initiative, stating, “The challenges posed by climate change are numerous. With the “Net Zero Warriors” program, in collaboration with IEEE and powered by Transition Venture Capital, our primary focus is to empower young engineers, professionals, academicians, startups, entrepreneurs, and investors to actively engage in these challenges and generate significant value. We believe that the victorious participants in these battles will be the driving force behind the emergence of the next generation of unicorns. I urge everyone to join the “Net Zero Warriors” movement and together, let’s create a better world for all.”

Both Transition VC and IEEE will leverage their respective expertise, creating a powerful alliance to drive an impactful change. The initiative will capitalise on Transition VC’s energy transition- specific capabilities and competencies, and IEEE’s influential presence across the global engineering community, academia, and its industry connections. It will also benefit from the existing outreach platform of IEEE Climate Change Initiative, to invite industries to collaborate.

“IEEE’s core mission is to advance technology for the betterment of humanity. In the present day, the world confronts one of its most significant challenges—climate change. Acknowledging the gravity of this global crisis, we are wholeheartedly dedicated to combating and mitigating its effects. Through practical and accessible technical solutions, we aim to empower engineers and technologists to take action in addressing climate change. We provide a neutral platform for open discussions and collaborations, fostering collective efforts to tackle this pressing issue,” emphasized Mr. Srikanth Chandrasekaran, Senior Director, IEEE India Operations.

The central focus of the “Net Zero Warriors” initiative is to facilitate a seamless transition towards a Net Zero future across diverse sectors. By uniting our expertise and resources, we strive to drive meaningful change and contribute to building a sustainable and resilient world for the benefit of all.”