Coaches Network of New Ventures India to Help Green SMEs

New Delhi, Delhi, India, Wednesday, April 09, 2008 -- (Business Wire India)

In order to develop more enterprises in clean and green technologies, New Ventures India, a joint program of CII- Sohrabji Godrej Green Business Centre and World Resources Institute launched, Coaches Network during the Green Investor Summit today in New Delhi. Top investors, business leaders and successful entrepreneurs would be part of the Coaches network. The members of this network would devote time in nurturing seed and early stage green companies.

Dr Saurabh Srivastava, Chairman of Indian Venture Capital Association took over as a chairman to Coaches Network of New Ventures India. Speaking at the occasion, Dr Srivastava said, “The members of the coaches network will be responsible for providing expert guidance to the entrepreneurs and help them in scaling their businesses.”

New Ventures India (NVI) is the first program in the country to bring together green Investors and the green SMEs to accelerate the investments in green companies in India. NVI has already facilitated investments in 5 companies amounting to a total of USD 11.06 million (INR 43.13 crores) in sectors as diverse as Bio pesticides, environmental friendly air conditioners, low cost automation systems, organic products & waste to material products.

The summit facilitated a round table conference that deliberated on how to create, promote and scale innovations in clean technologies space and make India a hub for clean technology innovation & investments. Stalwarts like Mr. Nicholas Parker, Chairman and Managing Partner, Cleantech Group LLC, Mr Ajay Kumar Kapur, CEO, SIDBI Venture Capital Ltd, Mr V T Bharadwaj, Vice President, Sequoia Capital, Mr. Mohanjit Jolly, Director, Draper Fisher Jurvetson (DFJ), Mr Piet Klop, Senior Fellow WRI were present at the occasion.

Earlier on this day Mr Vijay Chandok, Senior General Manager (Small Enterprises Group), ICICI Bank, took over as Chairman of New Ventures India. He mentioned that New Ventures India program will facilitate investments to the tune of 250 millions USD in environmental friendly companies.