The CLIMAFIX Summit 2023 brought together entrepreneurs, investors, and experts to discuss the worsening water crisis and explore innovative solutions to address this challenge. The discussions were both insightful and inspiring, shedding light on the scale of the problem and the promising technologies being developed to tackle it.
The summit began with Ganesh Shankar (FluxGen Technologies), the moderator, sharing his personal experiences growing up in Bangalore and witnessing the water crisis unfold first-hand. From having a well at home to eventually relying on water tankers, he painted a vivid picture of how rapidly the situation has deteriorated. With climate change exacerbating the problem and 21 Indian cities on the verge of running out of groundwater, the need for innovation has never been more urgent.
Solving the Water Puzzle: Startup Solutions
The event featured several startups presenting their innovative approaches to solving different aspects of the water crisis.
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ECOSTP Technologies: Lokesh Rajashekaraiah, co-founder of ECOSTP Technologies, shared his company’s unique solution inspired by the digestive system of cows. Their decentralized, zero-chemical, and zero-energy sewage treatment plant is a significant departure from conventional methods. By mimicking nature’s efficient processes, ECOSTP Technologies has created a system that can be installed in various settings, from children’s play areas to car parks, without any foul odors or environmental impact. Their solution not only treats wastewater but also enables water reuse for activities like flushing and bathing, a game-changer in water-stressed areas.
Uravu Labs: Generating Renewable Water from Air Venkatesh R Y, the co-founder of Uravu Labs, introduced their groundbreaking technology that generates renewable water from the moisture present in the air. By harnessing heat sources like sunlight or industrial waste heat, their system can produce water without relying on groundwater or surface water sources. This decentralized approach has the potential to revolutionize industries like beverages, cosmetics, and pharmaceuticals, enabling localized production and reducing the carbon footprint associated with logistics.
Watson Envirotech: Bringing Clean Water to Rural India Chandrasekaran J, the founder of Watson Envirotech, shared his journey of transitioning from a corporate career to addressing the water and sanitation crisis in rural India. His company provides low-cost, electricity-free water purifiers using nano clay candle filters, making clean drinking water accessible to households in remote villages. Watson Envirotech has already reached over 400,000 households across India, empowering communities through self-help groups and NGOs.
BlueDrop: Reviving Polluted Water Bodies Ganges Reddy, the co-founder of BlueDrop, presented their innovative approach to treating polluted lakes and water bodies. Their green infrastructure solutions enable natural bioremediation processes, restoring the water quality and biodiversity of these ecosystems. By employing techniques like micro-aeration, BlueDrop’s systems consume minimal energy while delivering significant cost savings and environmental benefits.
The Investor Perspective
The summit also featured insights from investors like Sanjana Manku and Adithya Bharadwaj, who shared their perspectives on investing in water tech startups.
Sanjana Manku from Axilor Ventures highlighted the importance of financializing climate outcomes and fostering adoption by governments and municipalities. She emphasized the need to create incentives for entities like the Bruhat Bengaluru Mahanagara Palike (BBMP) to adopt innovative water solutions, potentially through mechanisms like carbon credits or facilitating international trade.
Adithya Bharadwaj from Anicut Capital Advisors stressed the importance of sustainable business models, scalability, and potential exits for investors. He explained that while the environmental impact is crucial, investors also consider factors like profitability and the ability to generate returns within their investment horizons.
Challenges and Opportunities
The discussions also highlighted the challenges faced by the water tech sector, including the need for financializing climate outcomes, incentivizing adoption by governments and municipalities, and achieving scale. However, the panelists expressed hope that with more startups, investment, and innovations in the water tech space, the daunting water crisis can be effectively tackled.
As the summit drew to a close, the participants were filled with a sense of optimism and determination. The innovative solutions presented demonstrated the power of human ingenuity and the potential to create a water-secure future. With continued collaboration, investment, and a shared commitment to addressing this global challenge, the panelists believe that the thirst for sustainable water solutions can be quenched.
