Major clean energy, incubation project announced by Quicktouch Tech

Quicktouch Technologies has announced its entry into the green energy sector with plans to undertake two major projects in renewable energy. The company’s board has approved a proposal for this foray, according to an exchange filing.

Gaurav Jindal, Managing Director, Quicktouch Technologies, said, “Our entry into renewable energy and the launch of the Quicktouch Innovators Hub are significant steps towards creating a future that reduces carbon footprints and supports the next generation of entrepreneurs.”

At its recent board meeting, Quicktouch also approved an initiative to implement green energy solutions in educational institutions across the country. The company will collaborate with schools and colleges to install solar panels, aimed at reducing carbon emissions and providing cost-effective energy solutions. India’s renewable energy sector has seen rapid growth, with over 68 GW of solar capacity installed as of 2023.

Quicktouch’s green initiative is expected to contribute to the country's goal of achieving 500 GW of renewable energy capacity by 2030. The project may be carried out through a joint venture or by establishing a wholly owned subsidiary, underscoring the company’s commitment to sustainability.

In addition, the company announced the launch of the “Quicktouch Innovators Hub,” in partnership with the Srikaya Foundation. With an initial investment of Rs 10 crore, the hub will offer infrastructure, business mentorship, technology support, and financial assistance to early-stage startups.

India has 816 Accelerators & Incubators which have a combined portfolio of 5.81K companies. The incubation sector in India is expected to grow further, supporting the nation's booming startup ecosystem, which saw over 1,300 new tech startups in 2023 alone.