Indian electrical manufacturers to angel fund new age energy start-ups

To meet the challenges of fast-changing energy paradigms, the domestic electrical manufacturers are bracing up to onboard new age energy start-ups with financial and logistical support.

Under the aegis of Indian Electrical and Electronics Manufacturers’ Association (IEEMA), a committee of sector experts would select energy start-ups for handholding and angel funding.

“The power sector is changing fast and the industry is sometimes not able to keep pace. Now, we have decided to handhold the selected energy start-ups because these initiatives lack institutional support in India,” IEEMA director general Sunil Misra told Business Standard here. IEEMA is the apex body of domestic manufacturers