Inspire Clean Energy, a Mumbai-based solar asset, operations and maintenance management company, emerged as the winner of Mercom’s Second Startup Pitch Competition for Cleantech Companies, held during the Mercom India Renewables Summit 2024, a flagship annual event where industry leaders converge to discuss the future of clean energy in India.

The company was chosen as the winner for its anti-theft lock, which was designed to eliminate cable theft in large-scale solar projects. With three versions available — Plain Vanilla, Hooter, and IoT Sensor — these devices secure cables, making them hard to remove without triggering alarms or real-time alerts.

Already adopted by major independent power producers, the anti-theft lock prevents costly theft, protects valuable warranties, and reduces overall operations and maintenance costs.

Inspire Clean Energy took home a cash prize of ₹100,000 (~$1,194) and an advertising and marketing package worth $7,500 from Mercom.

This year’s Summit continued its tradition of spotlighting innovative startups in the renewables sector, providing a platform to present their cutting-edge products and solutions to influential industry players, including potential investors, customers, and partners.

The competition featured ten finalists selected from the numerous applications received from across the country. The finalists pitched their ideas to a panel of judges comprising eminent experts and leaders from the renewable energy sector.

The judges were Shishir Garemalla, Head of International Business Development at Kiwa PVEL; Mayank Mohapatra, Corporate Innovation Lead atGoMassive Earth Network; Shankar Sivan, partner at Refex Capital; and Raj Prabhu, CEO & Co-Founder at Mercom Capital Group.

The other nine finalists were Flock Energy, Buyofuel, SuryaLogix, TriNANO Technologies, Sandha Energy Innovations, Prayogik, UrjanovaC, MOTORAMA EV, and Urja Sathi.

All the companies received participation certificates from the Skill Council of Green Jobs, a Government of India Initiative.

The competition highlighted the remarkable capacity of India’s startup ecosystem to innovate and tackle critical challenges. Participants benefited from the opportunity to network with key industry figures, investors, and partners.

Mercom’s startup pitch competition promotes technology, innovation, and entrepreneurship in India’s renewable energy sector.