The HCL Group, in partnership with the India Climate Collaborative (ICC), has launched the HCL ClimaForce Fund, a philanthropic initiative with a fund of Rs 25 crore aimed at supporting market-ready climate innovations in India. The fund will provide grant capital to scale innovations in cooling, buildings, and freight mobility, which are crucial sectors for India’s development and climate goals. The initiative aims to accelerate India’s transition to a low-carbon future by empowering over 20 solutions in these sectors.
The ClimaForce Fund arrives at a critical moment, as India experiences rapid urbanization and economic growth, leading to a rising demand for sustainable solutions. However, many high-potential innovations face hurdles in scaling due to limited access to capital, risk-averse industries, and a gap between lab success and real-world deployment. The fund will support solutions that are market-ready and will foster collaboration between innovators and industries to reduce emissions in the targeted sectors.
The fund will provide a unique opportunity for industries to integrate cutting-edge, low-carbon technologies into their operations, helping them meet regulatory requirements and market demands for sustainable practices. The pilot collaborations offered by the fund will serve as practical test cases, ensuring that the solutions are optimized for scalability and industry adoption.
The HCL ClimaForce Fund marks the beginning of HCL’s long-term commitment to climate leadership, anchored in innovation, scale, and decisive action. The initiative is a bold step towards accelerating solutions that can help India grow while staying within planetary boundaries. The fund will focus on cooling and buildings in the first phase, with freight mobility solutions to be included in the second phase starting in 2027.
The first round of pilots will be announced in October, and the fund is open to for-profit enterprises with innovative new products, business models, and platforms. The applicants must be at Technology Readiness Level (TRL) 7 or higher and demonstrate measurable emissions impact, business viability, and readiness for commercial deployment in India. Proposals will be reviewed by a jury of climate specialists, investors, and industry experts, with ongoing mentorship provided to selected grantees.
The HCL ClimaForce Fund is a significant move towards driving climate action in India, and its collaboration with the India Climate Collaborative is expected to have a significant impact on the country’s transition to a low-carbon future. With its focus on innovation, scale, and decisive action, the initiative has the potential to make a meaningful difference in reducing emissions and promoting sustainable development in India.