Initiative targets startups and institutions working on food systems, urban resilience and energy transition, with final pitches slated for Mumbai Climate Week 2026

The National Stock Exchange (NSE), in partnership with Mumbai Climate Week (MCW), has started the MCW 2026 Innovation Challenge, a platform aimed at identifying and scaling climate solutions aligned with India’s sustainability priorities and the needs of the Global South.

The challenge seeks applications from early-stage and growth-ready innovators across startups, civil society organisations and academia, working on solutions linked to three focus areas: food systems, urban resilience and energy transition. According to the organisers, the initiative is designed to surface scalable and investment-ready ideas that address climate risks while supporting India’s long-term development goals.

Shortlisted applicants will undergo a multi-stage evaluation process, including screening rounds, expert jury assessments and mentorship sessions. Finalists will present their solutions during Mumbai Climate Week 2026, scheduled from 17 to 19 February 2026. Selected innovators will also receive visibility through exchange-supported platforms and access to curated investor interaction sessions.

Ashishkumar Chauhan, Managing Director and Chief Executive Officer, National Stock Exchange, said the programme aims to help climate-focused startups move closer to capital markets. He said NSE has been working to integrate sustainability into market instruments, citing initiatives such as electricity futures, ESG debt securities and proposed market-linked mechanisms for the power sector.

Chauhan added that such efforts could help address India’s long-term climate financing needs, which are estimated at around $10.9 trillion to achieve net zero emissions by 2070.

Shishir Joshi, Founder and Chief Executive Officer, Project Mumbai, said the collaboration is intended to connect climate innovators with capital and platforms that can help scale impact. He said the Innovation Challenge would provide a structured framework to evaluate solutions based on merit, scalability and relevance to India and other Global South economies.

The challenge is open to Indian and Global South entities that meet the eligibility criteria. Private companies incorporated outside India are not eligible for selection, though organisations from the Global North may participate as observers or technical contributors.

Applications opened on 12 December 2025 and will close on 10 January 2026. Shortlisted applicants are expected to be announced by the end of January, followed by jury pitch rounds and mentorship sessions leading up to the final showcase at Mumbai Climate Week.