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IIM-Ahmedabad's Center for Innovation, Incubation and Entrepreneurship (CIIE) today launched a special venture fund called the Indian Fund for Sustainable Energy (INFUSE) to encourage young entrepreneurs and innovators to start their ventures in the renewable energy sector.

On the occasion, Union Minister for Renewable Energy Dr. Farooq Abdullah launched the ‘INFUSE' logo while the Chief Minister Mr. Narendra Modi launched the website of the fund.

Speaking on the occasion Chief Minister Mr. Narendra Modi reiterated his desire to make Gujarat a solar-hub of the world. He said the state government will soon launch a pilot project in which the solar panels will be placed on the Narmada branch canals and electricity will be generated out of it. By March-2012 Gujarat will generate 5000-MW of solar energy. Gujarat has already formed its solar energy policy even before the Central government makes it and has set up a separate department to work out solutions for tackling the issue of climate change, he said.

Chief Minister also said the state government is going to set up a world class incubation center with an aim to encourage and nurture young talents with innovative ideas and has asked Mr. Narayan Murthy to steer this project.

Indian culture from the centuries is teaching to love the nature but the world has ignored this preaching and caused problems like global warming. At this time, renewable energy is the only way out to save the mankind, he said.

“Entrepreneurship has been a part of the genetic system of Gujarati people. There is no scarcity of knowledge among youths. Twentieth century was the century of Information Technology (IT) while the current century will have Environment Technology (ET) in forefront. A set-up like INFUSE will encourage young talents to come up with innovative ideas in the field of renewable energy. Gujarat government will also encourage the innovators coming through universities with their innovative solutions and will promote his innovations”, Chief Minister said.

He also gave outline of the Gujarat Solar-City project in which it is planned that every citizen in Gandhinagar will generate solar energy on the rooftop of his house. He also mentioned the state government's projects of generating power through hydro-turbine and from the tides on the seacoast of Gujarat.

Union Minister for Renewable Energy Mr. Farooq Abdullah expressed the government's desire to supply power to every house of the nation and asked for people's support in actualizing this desire. He also praised Gujarat for staying on top in the wind energy sector. He gave outline of the Central government's plan of maximizing the use to renewable energy and stressed upon conserving the natural resources.

IIMA Director Mr. Samir Barua delivered welcome address while CIIE Chairperson Prof.Rakesh Basant gave details of the objectives of the INFUSE fund.

Entrepreneurs of renewable energy sector, experts and youths were present on the occasion.

Gujarat Information Bureau

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