Investor Pitch & Connect initiative
in Clean Cooking
2.4 billion People globally lack access to clean cooking, requiring a whopping $10 billion annually. Inadequate funding, lack of sector knowledge, and perceived risks hinder the financial support required by this sector. However, the clean cooking sector has transformed lately with the advancement of new technologies and solutions in clean cooking, a growing recognition of the sector's importance within the broader clean energy access domain, and the emergence of numerous start-ups, innovators, and small and medium enterprises (SMEs) in the clean cooking sector. As a result, Access to Finance has once again gained prominence as a key focus area within the sector.
About the Programme - An Investor Pitching & Connect initiative in Clean Cooking
Modern Energy Cooking Services (MECS) Programme through its India In-Country Partner – Finovista is organising a first-of-it’s-kind initiative an Investor Pitching & Connect initiative in Clean Cooking. The programme has been supported by the Office of the Principal Scientific Adviser (PSA) to the Government of India. The initiative aims at creating an innovative platform that connects investors with innovators and entrepreneurs in the Modern Energy based clean cooking and unlocks access to private finance for the later.
The program aims to establish a supportive ecosystem for entrepreneurs, empowering them through improved access to finance. It will achieve this by fostering networks, offering training and mentorship, and providing a platform for accessing investment opportunities. Additionally, the program will focus on enhancing the capacity of private investors, impact investors, and other financial institutions by equipping them with knowledge about the clean cooking sector, its prospects, and technical assistance regarding technologies and solutions. By ensuring they have comprehensive information, these stakeholders can make well-informed decisions. Moreover, the program will actively engage with Impact Investors, highlighting the potential social, economic, and environmental advantages associated with clean cooking solutions.
The programme is dedicated to creating a supportive ecosystem that empowers entrepreneurs, enabling them to access finance through robust networks, personalized mentorship, and strategic market connections. It also strives to bolster the capabilities of impact investors, private investors, and financial institutions by equipping them with tailored technical assistance and comprehensive knowledge about the clean cooking sector. This would empower stakeholders to make informed decisions that could have far-reaching benefits for society, economy and environment.
Moreover, this programme is expected to serves as a pivotal starting point in building a sustainable pipeline of both solution companies and investors in the long run. Consequently, India has the potential to emerge as a global hub for clean cooking device solutions, with businesses evolving into solution suppliers for other countries. Notably, the programme welcomes participation from all nationalities in india through its virtual platform.
The objective is to leverage private capital to support innovative clean cooking solutions and services. Eligible ideas and businesses must have a clear and viable business model, as well as the potential for scalability.
Solar powered cooking
Hydrogen and Biogas based cooking
LPG / PNG
Other modern energy based cooking
The Investor Pitching & Connect initiative is open to all Companies, SMEs, Startups and Innovators coming from India involved in the design, manufacturing, supply-chain, marketing, funding and PayGo of modern energy cooking products, solutions and services. The solutions can be in any stage of Ideation, Pilot and Scaleup.
Notably, the program does not support Companies, SMEs, Startups or Innovators involved in biomass and firewood based solutions/technologies.
Modern Energy Cooking Service (MECS) Programme
MECS Programme is a UK Aid (FCDO) funded global research programme led by Loughborough University and the World Bank’s Energy Sector Management Assistance Program (ESMAP). By integrating modern energy cooking services into the planning for electricity access, quality, reliability, and sustainability, MECS hopes to leverage investment in renewable energies (both grid and off-grid) to address the clean cooking challenge. MECS is implementing a strategy focused on including the cooking needs of households in the investment and action on ‘access to affordable, reliable, sustainable modern energy for all’. In seeking to spark a new approach to clean cooking, the programme researches the socio-economic realities of a transition from polluting fuels to a range of modern fuels and is open to other research and approaches that include other fuels such as ethanol, bioLPG, or hydrogen. Whilst the research covers several clean fuels, the evidence is pointing to the viability, cost-effectiveness, and user satisfaction that energy-efficient eCooking devices provide.
Click here to know more www.mecs.org.uk
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