Mr. George Deikun, Mission Director, USAID India, formally launched the “Green Investors Network” at the “New Ventures India Investor Forum 2007” in Mumbai. The network was comprised of investors both from India and abroad, including mainly venture capital firms, angel investors, banks and also financial institutions.
The New Ventures India program, initiated by the World Resources Institute (Washington, DC) and the CII-Sohrabji Godrej Green Business Centre (Hyderabad), with support from the USAID, is encouraging the creation of green enterprises by engaging Indian business development organizations and creating a network of investors and financial institutions.
In his welcome address, Dr Nachiket Mor, President of ICICI Foundation for Inclusive Growth, and the chairman of the New Ventures India Steering Committee said, “The New Ventures India program seeks to facilitate investment in the amount of 250 million USD in green companies in India by 2010. The New Ventures India program is a premier initiative which looks for innovative enterprises in the sectors like clean technologies, energy efficiency, renewable energy, green building materials and socially-responsible ventures.”
“India is set for massive growth in coming years. Clean and green businesses will lead to lesser environmental impacts for each unit growth of GDP, and thus will help us grow in a sustainable manner.” adds Mr. Jamshyd N Godrej, Chairman of CII-Sohrabji Godrej Green Business Centre.
According to Mr. Manish Bapna, Executive Vice President & Managing Director of the World Resources Institute, “Significant growth in environmental markets and investment is coming in direct response to increasing environmental pressures. Global warming, pollution, and degradation of ecosystems are having serious, negative impacts in India and globally, and the private sector has an important role in solving these problems.”
Mr. George Deikun, Mission Director of the USAID India American Embassy formally launched the Kabir Das Electric Bike at the forum. In his address to the conference participants, he announced that three New Ventures India companies from last year received investment worth Rs 16.49 crore, and the program expects to get an even better response this year.
Green entrepreneurs from across the country are making a pitch for investments during the two days of the investor forum. The event witnessed the presence of major investors from green business sectors such as the Global Environment Fund, Sun Group, ICICI Bank, Yes Bank, ABN Amro Bank, Deutsche Bank, and others.
Stalwarts like Mr Jeffrey Leonard (GEF), Mr Pawan Sukhdev(Deutsche Bank), Mr Nitin Deshmukh (Kotak Private Equity), Mr Somak Ghosh (Yes Bank) and Ms. Magda Hanna, (Asia-Pacific Partnership on Clean Development & Climate) were part of the forum. Many world-renowned experts in sustainable investments deliberated on various issues related to innovation and sustainability in the panel discussions.
The Investor Forum serves as a unique platform for the interaction of entrepreneurs, financial institutions, angel investors, venture capitalists, clients, buyers, consultants and academics. Over 250 people attended the Forum.
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