India launches support for innovative clean energy start-ups as global investments begin recovery from 2020 (excerpt)

Yet another casualty of the pandemic, early-stage 1 venture capital (VC) investment to support innovative energy technology firms through their highest-risk stages fell to an estimated USD 3.1 billion globally in 2020 – a 30% drop from 2019. This private risk capital, which complements the much larger sums governments and companies spend on energy R&D, is vital to develop critical new clean energy technologies because it enables market creation and helps the production of market-ready innovations to scale up.