India and The European Union (EU) on Tuesday launched an Expression of Interest for start-ups working in the area of Battery Recycling Technologies for Electric Vehicles (EVs) for a matchmaking event.

The matchmaking aims to enhance the cooperation between European and Indian Small and Medium-sized Enterprises (SMEs) and start-ups in the clean and green technologies sector.

The intended exchange of knowledge and expertise will be instrumental in advancing the circularity of rare materials and transitioning towards carbon neutrality in both India and the EU.

This initiative takes place under the India-EU Trade & Technology Council (TTC) announced by Prime Minister Narendra Modi and Ms Ursula von der Leyen, President of the European Commission, at their meeting in New Delhi in April 2022.

This event is also part of a broader effort to promote a sustainable agenda, foster innovation, and forge stronger economic relations between the European Union and India, a press release said.

The Matchmaking Event launched today, provides a platform for Indian and EU startups in the field of EV Battery Recycling Technologies to pitch their innovative solutions and engage with Indian/European venture capitalists and solution adopters. Twelve startups, six each from India and the EU will be selected and get a pitching opportunity during the Matchmaking Event, scheduled during June 2024. Six finalists (three from the EU and three from India) will be selected following their pitching presentations and awarded the possibility to visit India and the EU, respectively.

The key highlights of the event are: (i) to identify, support, and promote startups dedicated to advancing the field of battery recycling technologies for EVs; and (ii) to facilitate cooperation, potential trade avenues, and, customer relations and explore investment avenues for the shortlisted startups.

The matchmaking event under India-EU TTC Working Group 2 offers Indian startups/SMEs an exclusive platform to demonstrate their expertise in battery recycling technologies. It provides a chance for Indian innovators to establish strategic alliances with their counterparts in the EU, accelerating the development of advanced battery recycling techniques focused on waste minimization and resource sustainability.

“Our objective is to harmonize efforts with EU innovators to jointly develop battery recycling solutions that drive industry expansion. We are dedicated to fostering a collaborative environment where sustainability and innovation form the cornerstone of a flourishing circular economy,” said Prof. Ajay Kumar Sood, Principal Scientific Adviser to the Government of India.