India is a critical market for clean technology and will play an important role in slowing down the impact of climate change, chief executive officer (CEO) of Los Angeles Cleantech Incubator (LACI) Fred H Walti II told media persons at Indore Press Club on Thursday.
A non-profit incubator, LACI acts as a low-fee consultant to green start-up companies. In India, LACI has tied up with an Ahmedabad-based company for launching an incubator and is also looking for opportunities at other cities.
“I am looking for partnerships to develop and spur clean technology in marketplace. This includes solar energy, clean forms of transportation, green building and water. Clean tech market today is like Internet was 20 years ago. No one had thought about commercial potential of Internet then. We would like to do the same thing with clean technology,” he said.
Lauding the effort of PM Narendra Modi in promoting sustainable development, he said India’s enhancing solar energy capacity on a big scale would have a huge global impact. He also spoke on university based incubators in supporting startups for clean technology.
During his visit to Indore, Fred will meet various organisations and discuss creation of cleantech innovation ecosystems, entrepreneurship, the role of economic development in creating jobs and public-private partnerships.