Through its new "Blue Seed" initiative, water treatment multinational Va Tech Wabag will be financing emerging start-ups with innovative solutions, particularly in Africa, where it has a number of projects.
At a time when funding for innovation in the water sector is rather rare, the Indian company Va Tech Wabag, which specialises in water treatment, is launching “Blue Seed”. “This is an initiative that will foster innovation in the water sector by providing pre-seed and seed funding to start-ups operating in the field”, explained Rajiv Mittal, the Chairman and Managing Director (CEO) of Va Tech Wabag, at the Blue Seed launch ceremony on 7 May 2024.
While water management is now everyone’s business, the multinational based in Chennai, capital of the Indian state of Tamil Nadu, is convinced that young companies have a crucial role to play in bringing innovation to improve access to and management of water.
In Africa, where va Tech Wabag has won a number of contracts, including the construction of the bomba seawater desalination plant in eastern Libya and a drinking water plant in Tunisia, this funding opportunity could be an additional incentive for young people wishing to undertake and provide a solution to the global water crisis. Interested start-ups will also have to “demonstrate in their project document that they are developing unique and innovative process technologies and products to address specific industry challenges”, says Va Tech Wabag.
In addition to capital support through pre-seed and seed funding, waterpreneurs benefiting from the “Blue Seed” initiative will also have access to global markets. “Blue Seed” will provide technological support for the integration of innovations. The realisation of this project should contribute to the creation of a flourishing ecosystem for the future of water technologies across the globe.
Inès Magoum
