Tata Capital (TCL) has partnered with the Green Climate Fund (GCF) under its newly approved BEACON INDIA Programme to support early-stage climate-tech start-ups across India. The programme is being implemented in collaboration with the Small Industries Development Bank of India (SIDBI) and TREC-STEP, an innovation and entrepreneurship development organisation.
Under this partnership, Tata Capital will receive a first-of-its-kind revolving facility of USD 15.85 million from the GCF, along with an additional USD 3 million grant to make financing more affordable for climate-focused start-ups. The revolving structure means that as start ups repay their loans, Tata Capital will reinvest that money to fund new ventures ensuring the support continues for years to come.
In addition, Tata Capital will contribute USD 47.6 million of its own funds, showing its strong commitment towards building India¡¯s climate innovation ecosystem. The initiative is expected to reduce over 1.1 million tonnes of CO©ü emissions and benefit nearly 2.9 million people through climate adaptation and mitigation efforts