The Indo-Pacific Economic Framework for Prosperity (IPEF) is setting the stage for an instrumental Investor Forum meet to be held in Singapore on June 5-6, bringing together innovators, entrepreneurs, and investors from across its 14 member nations. The spotlight will be on domestic climate tech entrepreneurs and companies, hailing from a diverse set of countries including the United States and India, who will have the opportunity to present their cutting-edge solutions to a global audience of potential investors.
The Commerce Ministry of the cooperative bloc has officially opened a call for applications, encouraging domestic climate tech entrepreneurs and companies to take part in this significant gathering. With the application window drawing to a close on April 26, prospective participants are encouraged to register their interest swiftly. Evaluations will be conducted by a selection of regional and industry experts to identify the most innovative and impactful companies.
In early May 2024, the names of the top 100 companies will be revealed, and these selected entities will receive the honor of showcasing and pitching their products at the prestigious Singapore forum. This initiative is among the varied activities under the Clean Economy pillar of the IPEF, which was inaugurated back in May 2022. The IPEF is comprised of Australia, Brunei, Fiji, India, Indonesia, Japan, Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand, the United States, and Vietnam.
Dedicated to advancing resilient, sustainable, and inclusive economic growth, the IPEF fosters collaboration among its members and endeavors to cultivate cooperation, stability, and prosperity across the region. It is structured around four main pillars: Trade, Supply Chain, Clean Economy, and Fair Economy. The upcoming IPEF Clean Economy Investor Forum epitomizes the essence of these cooperative efforts.
At the heart of the forum are the collective ambitions to drive investment into vital areas including sustainable infrastructure, climate technology, and renewable energy projects. Key stakeholders from the business and investment communities—including top investors, philanthropists, financial institutions, startups, and established innovators—are expected to converge at the event, as announced by the ministry.
Invest India, the national agency for promoting investment, is placed at the helm of managing the arrangements for the forum, with The Department of Commerce serving as the primary coordinator for all IPEF engagements. In this forum, India anticipates to not only demonstrate its leadership role within the Clean Economy sphere but also to promote potential investment opportunities in its vast clean infrastructure projects and eminent climate tech companies.
Companies and startups operating in the domain of climate tech will be categorized under two distinct tracks at the forum: climate and infrastructure. Those in the climate tech track will compete for recognition as the top climate tech companies and startups from the member countries. In parallel, the infrastructure track will spotlight selected sustainable infrastructure projects that India intends to present for investments at the 2024 forum.
The focal sectors for these investments include energy transition, transport and logistics, and waste management, with a keen interest in projects promoting electric grids, renewable energy sources such as solar and wind, sustainable aviation fuels, battery storage, hydrogen production, green data centers, electric vehicles, EV charging points, and waste-to-energy initiatives. Priority will be given to projects poised for private investment over the next 18 months.
To qualify, climate tech firms must either be headquartered in an IPEF member country or have significant operations or focus there. Moreover, companies that were founded in or post-2010 are eligible to apply. The selection process is rigorous, with evaluations based on five key criteria to identify the top 100 companies, known as the Indo-Pacific Climate Tech 100. The aim is to ensure that each IPEF member country is represented by at least three companies, thereby promoting a diverse and equitable selection.
This event presents an unprecedented chance for climate tech companies and entrepreneurs to gain exposure and secure funding that could very well define the future of sustainable technology and infrastructure in the Indo-Pacific region.
