Published on November 8th, 2012 | by Anneli Hidalgo0
Passage to India for Swedish cleantech
Early-stage and growth-stage cleantech companies in Sweden have a fast track to India’s energy market with a memorandum of understanding signed by Swedish Energy Agency, the Confederation of Indian Industry (CII) and Cleantech Scandinavia in August.
The focus is on technology exchange and facilitating development of better energy management by engaging companies and research organizations. Indian industry is keen to improve energy efficiency by adopting new technologies and processes, opening up opportunities for Sweden.
Also in Swedish industry’s favor is the Indian government’s strong backing of cleantech through policies and incentives, says Svetlana Gross of Cleantech Scandinavia, which will help match Swedish companies with Indian partners.
“We want to take innovative Swedish companies, particularly those not yet late stage, as they can be more flexible in adapting to the Indian market. All the Nordic countries have small markets, so going abroad is the only way to grow. This will be a huge learning opportunity as these companies accumulate knowledge on how to develop a foreign market.”