How many of you people consciously think about the environment? You know, think about stuff like the heat islands being created with all this construction around us, why Bombay’s rains are late this year, why people still throw coconuts wrapped in plastic into the already much-abused Mithi river and so on and so forth. I don’t really think about it. Maybe only once in a while, but usually as an after-thought because I’m stuck in frustrating traffic.
But the environment is big business, more so in the past few years and it can actually pay to think about it. Venture capitalists are certainly warming up to the idea — they call it the ‘cleantech’ opportunity. Even in India. In 2007, venture capitalists invested $210 million in cleantech companies in India, up 58% from 2006, says Cleantech Group — read February press release here. The organization, which has Vinod Khosla among others on board, thinks clean energy and water are key opportunity areas in India investment-wise. There’s been some activity in terms of raising India-specific funds for cleantech — get a refresher on some of those funds here.
I don’t follow cleantech very closely, but going by the US and even European dealflow reports that turn up in my inbox each morning, every fourth or fifth deal in the early stage/venture space seems to be in a cleantech company. It is probably time to look at this sector in a more disciplined manner, especially since a clutch of local venture capital teams here are sizing up the market. A few names are familiar — Nexus India Capital, DFJ, Baring Private Equity, etc. A more detailed report on the sector, its ups and downs, later.
In other notable news this week, one more online media startup hit the road. Nikhil Pahwa, former editor of Contensutra in India, launched his own outfit, Medianama, on Friday. Check it out. Incidentally, Friday was also when Bill Gates finally stepped down and away from Microsoft, though he continues to be an 8.7 per cent shareholder (that’s worth $23 billion says Reuters). Charitable work is going to be his new vocation, though micro-finance and new vaccines for the developing world (that’s us), I thought, qualified more as ‘emerging but big biz opportunity’. Still, I’m sure Gates means well. And I do honestly love Windows.
The week seems to have been starved for events, expect for WiCamp in Calcutta. How did that one go? Posts, comments welcome. Have a nice weekend.
clean is not translating into green yet: http://earth2tech.com/2008/06/29/thank-cleantech-for-the-lack-of-venture-backed-ipos/
“And I do honestly love Windows”…you’ll get lynched by the geeks.
Hi Anon, your link doesn’t work. It is early days for money to be made from cleantech. and windows, i don’t think the geeks mind as much as you do