How UK and Indian innovation hubs can work together to tackle climate challenges

Climate change impacts everyone, wherever they are in the world. Therefore, it is important that the business and technology ecosystems of metropolitan cities like London and Bangalore work together to develop solutions to address the global challenges created by climate change.

London and India have long-standing economic and cultural ties, with a healthy flow of companies doing business in both regions. Trade ties are getting stronger and stronger, creating more economic growth and employment opportunities in both regions. This makes us excellent collaborative partners, especially in areas of mutual strength such as sustainable innovations.

London is a beacon of the clean, low-carbon and resource-efficient technology industry, with strong support in terms of the private sector, funding, grants and an innovation-friendly regulatory environment. The Mayor of London has also set out an ambitious mission for London to become a zero carbon and zero pollution city by 2030 and a zero waste city by 2050. The recent City of London Global Green Finance Index (GGFI) 2021 named London as the world’s third best center for green finance based on public, private and not-for-profit investment in sustainable development projects.

Similarly, Indian cities such as Bengaluru are focusing on the growth of sustainable technologies and innovations. The continued development of sustainable innovations in London and Indian cities has created a strong platform for collaboration. This cross-border business opportunity allows businesses to truly benefit from the expertise and resources that each has to offer. As one of the world leaders in business development and innovation in climate technology, London presents many opportunities for Indian companies to make the UK capital a test center for research and development. . The Queen Elizabeth Olympic Park, for example, is an active hub for emerging technologies, from clean technologies to cyber and mobility innovation. Additionally, the Octopus Center for Net Zero is home to the world’s first energy technology research center that focuses on models and policy recommendations for a green energy future.

There is also a lot of support for companies to take advantage of Indian ecosystems. A recent study from 2021 found that over the past five years, 120 climate tech start-ups have raised over 200 funding rounds from 272 unique investors in India. Examples include think tanks such as NITI Aayog, which are working to provide financial support for the development of clean technology incubation centers and entrepreneurship.

Furthermore, according to the 2030 Roadmap for Future India-UK Relations Policy released in 2021, India and UK have agreed to develop programs such as the Fast Track Start-Up Fund to foster innovation, sustainable growth and jobs, and technology solutions. that benefit both countries. Here we see many opportunities for London and Indian cities and their businesses to share ideas, talent and innovation.

We are confident that if global cities such as London continue to work with key innovation hubs in India, it will not only continue to create more sustainable business opportunities in both regions, but will also foster a more sustainable way of life for generations to come.



LinkedIn


Disclaimer

The opinions expressed above are those of the author.



END OF ARTICLE



About Arla Lacy

Check Also

John Deere Wins Two CES® 2023 Innovation Awards in Robotics and Vehicle Technology & Advanced Mobility

MOLINE, Ill., November 16, 2022 /PRNewswire/ — John Deere (NYSE: DE) has been named CES® …