Mission Innovation (MI)
Mission Innovation (MI) is a global initiative of 22 countries and the European Union to dramatically accelerate global clean energy innovation. As part of the initiative, participating countries have committed to seek to double their governments’ clean energy research and development (R&D) investments over five years, while encouraging greater levels of private sector investment in transformative clean energy technologies. These additional resources will dramatically accelerate the availability of the advanced technologies that will define a future global energy mix that is clean, affordable, and reliable.
Mission Innovation was announced on November 30, 2015, as world leaders came together in Paris to undertake ambitious efforts to combat climate change.
Mission innovation aims to escalate the pace of clean energy innovation to achieve performance breakthroughs and cost reductions to provide widely affordable and reliable clean energy solutions that will revolutionize energy systems throughout the world over the next two decades and beyond.
The Department of Biotechnology (DBT) has been identified as nodal agency to coordinate national efforts in clean energy for Mission Innovation activities on behalf of Government of India. DST, Ministry of Power and MNRE are other ministries participating in addressing the challenges. India will be partnering in all the challenges. India will be leading the Smart Grids innovation challenge and co-lead the sustainable biofuels innovation challenge and is collaborating in all the challenges identified.
MI members aim to encourage increased engagement from the global research community, industry and investors while also providing opportunities for new collaborations among MI members. Commitment to MI envisions creation of jobs and building more low-cost broadly deployable clean energy options. Collectively MI members encompass over 80% of the world’s public funding for energy R&D. Under the initiative, members have pledged to double their collective investments in energy R&D funding of over USD 15 Billion annually to over USD 30 billion by 2021.
The first Ministerial meeting was held in June 2016 in San Francisco. The meeting identified consolidated MI doubling target and the innovation priorities. Subsequent to the Ministerial meeting discussions were held and recognized that targeted technology advances could accelerate breakthroughs and reduction in cost and launched 7 innovation challenges. These challenges are global calls to action that complement efforts already underway by MI countries.
In November 2016 Mission Innovation ministers gathered at COP22. Later, a clean energy R&D investment fund, named the Breakthrough Energy Venture (BEV) was announced by Breakthrough Energy Coalition (BEC), a group of entrepreneurs, business leaders and institutional investors committed to help bring promising new zero-emissions energy technologies to market.