Kerala Finance Minister Dr Thomas Isaac launches Green Innovation Fund to support startups creating social impact

Kerala Finance Minister Dr T. M Thomas Isaac has launched Green Innovation Fund, a six-month fund-linked accelerator programme for social impact startups, as a joint initiative of Kerala Startup Mission (KSUM), Haritha Keralam Mission and the United Nations Development Programme (UNDP), India.

Along with the Finance Minister, Shoko Noda, the Country Representative of UNDP, India, was also present in the online launch event. She gave a special address on UNDP’s role in leveraging Innovations for Sustainable Development Goals (SDGs).

Green Innovation Fund (GIF), seeks to support startups working on SDG goals (Climate change-related) by giving them Grant and technical support.

In his address, Dr Isaac said, “There are a whole lot of areas which are waiting for some innovative interventions, especially in the high range belts, which are prone to larger and diverse vulnerabilities. GIF is ambitious experimentation to leverage technology to bridge gaps which may be arduous through our traditional way of working.”

He mentioned how some municipalities in Kerala transformed into a more enterprising mode by embracing technology.

GIF is a cohort-based fund-linked acceleration programme where startups will be selected based on the compatibility of their products with the identified problem statements from the high range of landscapes.  It seeks to address some of the most pressing issues facing the vulnerable high range of communities through innovation.

In her special address, Ms Shoko said: “By combining modern technology like artificial intelligence and drones with the traditional wisdom of communities, we are working to improve management of natural resources, reduce negative impacts upon the environment and promote green jobs. The launch of the GIF as part of the India High Range Mountain Landscape project is a step in this direction.”

In her presidential address, Ms T N Seema, Vice-Chairperson, Haritha Keralam Mission, said the outbreak of COVID-19 had made it very clear that our health, our society and our economy not could be separated from nature.

Sasi PM, the CEO, KSUM, said: “As climate change brings in exponential changes in the environment there is an urgent need to develop innovative products, services, businesses, organizational models which will bring in sustainable development through behavioural changes and new business models. There is a need to nurture and develop such ideas which could redefine sustainable enterprises in a structured manner.

The issues that the GIF will seek to address are recurring natural disaster, human-animal conflict, sustainable tourism, sustainable agriculture, waste management, water and energy issues etc. Startup selected for the programme is eligible for fund up to Rs 7 lakh.

The application window for the selection of startups to the First Cohort of GIF will be live from November 8 to December 10.

The GIF is part of the GoI-GEF-UNDP India High Range Mountain Landscape project (IHRML). The IHRML Project is a small attempt towards mitigating the effects of climate change and other threats faced by the ecologically fragile landscape of Anchunad and adjoining areas through building an effective collaborative governance framework for multiple-use management.

With the able guidance and leadership of Haritha Keralam Mission and the Kerala State Forests and Wildlife Department at the state level, and the Ministry of Environment, Forest and Climate Change (MoEFCC) at the national level, the project activities were kicked off in the 2019-20 Financial Year.

A session to clarify doubts regarding the application process of GIF and problem statements listed will be held on November 12 at 4 pm.