To promote electric freight transport adoption, NITI Aayog has unveiled GearShift Challenge hackathon, inviting business innovations from participants across India.
NITI Aayog recently launched a programme called NITI GearShift Challenge with IIM Bangalore, Smart Freight Centre India, CALSTART/Drive to Zero, and WRI India as part of the e-FAST India initiative.
This initiative aims to develop innovative business models for adopting zero-emission trucks (ZETs) in India and tackle major economic and environmental issues.
The programme seeks business plans for electric truck adoption from students, practitioners, academics, and researchers. The selection consists of two rounds. In Round 1, teams submit initial models tackling a specific barrier with strategic and research support in the form of a PowerPoint presentation. The presentation must consist of 8-10 slides, not including the cover slide and appendix. The submission period started on June 15, 2024, and ends on July 20, 2024, at 11:00 PM IST.
In the next round, shortlisted teams will present their business models to a judging panel, which includes an Advisor from NITI Aayog, industry experts, investors, and sustainability advocates, for final evaluation and selection of the top three submissions.
The presentation mode will be announced closer to the event. NITI Aayog and industry experts will mentor teams advancing from Round 1. The presentation will run from July 25, 2024, to August 15, 2024.
The hackathon has attracted support from e-FAST India partners, financial institutions, and industry forums. It aims towards sustainable freight transport in India by harnessing participants’ creativity and expertise.
India’s freight sector is vital in delivering goods to over 1.4 billion people. It uses 55% of the country’s diesel and accounts for nearly 40% of road transport’s CO2 emissions. Switching to electric trucks is crucial to addressing these issues. The change will help reduce emissions, improve air quality, and increase energy security.
