Govt Launches INR 2.3 Crore Innovation Challenge to Boost Rooftop Solar Adoption
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In a push to accelerate India's transition to clean energy, the Ministry of New & Renewable Energy (MNRE) has launched a INR 2.3-crore startup innovation challenge aimed at fostering new technologies in rooftop solar and distributed renewable energy systems, as per PTI.
Announced on Saturday during the national conference on Skill Development for the Renewable Energy Workforce, the initiative seeks to attract early-stage ventures working on scalable solutions in green tech and related sectors. According to a statement from the ministry, the "Innovative Projects Start-Up Challenge on Rooftop Solar (RTS) and Distributed Renewable Energy (DRE) Technologies" is designed to identify high-impact innovations that can speed up the adoption of decentralized solar energy systems across the country.
The challenge is being implemented under the aegis of MNRE, with the National Institute of Solar Energy (NISE) providing technical support, and StartUp India—under the Department for Promotion of Industry and Internal Trade (DPIIT)—coordinating outreach and engagement efforts.
The ministry said startups from a diverse set of industries including green technology, Internet of Things (IoT), artificial intelligence, blockchain, construction, energy hardware, fintech, and waste management are eligible to apply. The goal is to tap into a wide innovation pool to address operational, financial, and technical barriers in the rooftop solar ecosystem.
The competition offers a total prize pool of INR 2.3 crore. The top three winners will receive INR 1 crore, INR 50 lakh, and INR 30 lakh respectively, while ten additional startups will each be awarded INR 5 lakh as consolation prizes. Beyond the financial incentives, selected startups will receive incubation support, access to pilot project implementation, and mentorship from experts and investors associated with MNRE and NISE.
"The challenge aims to identify and support breakthrough solutions for India's rooftop solar and distributed renewable energy ecosystem," the MNRE statement noted, emphasizing the ministry's intent to catalyze innovation that can be deployed at scale.
With rooftop solar capacity still underperforming relative to targets, the challenge is expected to drive fresh momentum in a sector seen as critical to meeting India's renewable energy goals.
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The sell-off followed a weaker-than-expected jobs report, and after President Trump reshaped the US trade landscape by imposing tariffs on imports from dozens of trading partners around the world. Gold jumps on weak jobs report, tariffs, stock market sell-off Gold (GC=F) futures rose to about $3,400 as stocks sold off and investors reacted to a weaker-than-expected jobs report and tariff uncertainty, increasing the odds of a Federal Reserve rate cut in September. July's report showed the economy added just $73,000 jobs, much less than anticipated. The prior two months were revised down sharply, signaling a labor market slowdown has been underway for some time. Meanwhile President Trump signed an order to hike tariffs on Canada to 35%, while he kept a baseline minimum rate of 10% across all partners. The tariffs on Canada go into effect Friday, while many of the other "reciprocal" rates take effect Aug. 7. 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In its results released late Thursday, Reddit also reported adjusted earnings per share of $0.92, ahead of the estimated $0.72. The company said global daily active users hit 110.4 million in the three months ended June 30, just above the 110 million expected by analysts, according to Bloomberg consensus data. Meanwhile, US daily active users hit 50.3 million, slightly below the 50.5 million expected. Read more about Reddit's latest report here. Novo Nordisk, Eli Lilly stocks pop on report of Medicare, Medicaid GLP-1 coverage Shares of Novo Nordisk (NVO) and Eli Lilly (LLY) spiked at the open after the Washington Post reported that the Trump administration is planning to experiment with allowing Medicare and Medicaid to cover weight-loss drugs. A plan obtained from the Centers for Medicare and Medicaid Services stated that state Medicaid programs and Medicare Part D insurance plans can voluntarily choose to cover Novo Nordisk's Ozempic and Wegovy and Eli Lilly's Mounjaro and Zepbound for weight management, the Post reported. It's a signal that the administration is more open to GLP-1 drug coverage, despite reservations from Health and Human Services Secretary Robert F. Kennedy Jr. Novo Nordisk and Eli Lilly stocks both popped 3% in the first 10 minutes of trading. On Thursday, the stocks sold off after President Trump sent a letter to 17 pharma companies demanding that they slash their drug prices in the US. Shares of Novo Nordisk (NVO) and Eli Lilly (LLY) spiked at the open after the Washington Post reported that the Trump administration is planning to experiment with allowing Medicare and Medicaid to cover weight-loss drugs. A plan obtained from the Centers for Medicare and Medicaid Services stated that state Medicaid programs and Medicare Part D insurance plans can voluntarily choose to cover Novo Nordisk's Ozempic and Wegovy and Eli Lilly's Mounjaro and Zepbound for weight management, the Post reported. It's a signal that the administration is more open to GLP-1 drug coverage, despite reservations from Health and Human Services Secretary Robert F. Kennedy Jr. Novo Nordisk and Eli Lilly stocks both popped 3% in the first 10 minutes of trading. On Thursday, the stocks sold off after President Trump sent a letter to 17 pharma companies demanding that they slash their drug prices in the US. Stocks sink at the open US stocks sank at the market open on Friday after President Trump officially hit virtually every US trading partner with sweeping tariff hikes, and the June jobs report showed signs of a labor market slowdown. The Dow Jones Industrial Average (^DJI) dropped 0.9%, while the S&P 500 (^GSPC) fell around 1%. The tech-heavy Nasdaq Composite (^IXIC) sank about 1.4%, on the heels of a losing day for the major US gauges. US stocks sank at the market open on Friday after President Trump officially hit virtually every US trading partner with sweeping tariff hikes, and the June jobs report showed signs of a labor market slowdown. The Dow Jones Industrial Average (^DJI) dropped 0.9%, while the S&P 500 (^GSPC) fell around 1%. The tech-heavy Nasdaq Composite (^IXIC) sank about 1.4%, on the heels of a losing day for the major US gauges. Treasury yields sink after jobs data as traders price in more aggressive Fed action The big market action after a shocking July jobs report was being seen in the bond market Friday morning. Treasuries were in rally mode as traders moved to price in at least two interest-rate cuts from the Federal Reserve this year. That reversed the moves seen Wednesday after the FOMC meeting, which saw Fed Chair Jay Powell talk down the need for rate cuts. The yield on 2-year Treasury notes fell by more than 17 basis points to as low as 3.78% Friday morning. The yield on 10-year notes fell by nearly 10 basis points to as low as 4.27%. Data from the CME Group showed the odds for a September rate cut from the Fed were as high as 75% following Friday's report. The July jobs report showed the US economy added just 73,000 jobs last month while revisions to the May and June reports showed more than quarter million fewer jobs were added to the economy than previously reported. On Wednesday, odds for a September rate cut from the Fed were just 37%. Just before the release of Friday's jobs report, two Fed governors — Chris Waller and Michelle Bowman — issued statements explaining their decision to vote against the Fed's call to keep interest rates unchanged on Wednesday. Both suggested the US labor market is not as strong as recent data had shown, and that when the labor market turns, it may turn quickly. Waller and Bowman's dissents on Wednesday marked the first time since 1993 that two members of the Fed's Board of Governors voted against a policy action at the same meeting. President Trump, for his part, said Friday morning before the jobs numbers were released the Fed board should "ASSUME CONTROL" as Powell continues to face criticism from the president over his view that interest rates should remain at current levels. The big market action after a shocking July jobs report was being seen in the bond market Friday morning. Treasuries were in rally mode as traders moved to price in at least two interest-rate cuts from the Federal Reserve this year. That reversed the moves seen Wednesday after the FOMC meeting, which saw Fed Chair Jay Powell talk down the need for rate cuts. The yield on 2-year Treasury notes fell by more than 17 basis points to as low as 3.78% Friday morning. The yield on 10-year notes fell by nearly 10 basis points to as low as 4.27%. Data from the CME Group showed the odds for a September rate cut from the Fed were as high as 75% following Friday's report. The July jobs report showed the US economy added just 73,000 jobs last month while revisions to the May and June reports showed more than quarter million fewer jobs were added to the economy than previously reported. On Wednesday, odds for a September rate cut from the Fed were just 37%. Just before the release of Friday's jobs report, two Fed governors — Chris Waller and Michelle Bowman — issued statements explaining their decision to vote against the Fed's call to keep interest rates unchanged on Wednesday. Both suggested the US labor market is not as strong as recent data had shown, and that when the labor market turns, it may turn quickly. Waller and Bowman's dissents on Wednesday marked the first time since 1993 that two members of the Fed's Board of Governors voted against a policy action at the same meeting. President Trump, for his part, said Friday morning before the jobs numbers were released the Fed board should "ASSUME CONTROL" as Powell continues to face criticism from the president over his view that interest rates should remain at current levels. Figma stock rises 19% in premarket trade Friday, poised to build on Thursday's 250% rally Figma (FIG) stock looked set to surge again on Friday, rising as much as 19% in premarket trading after shares rocketed higher with a gain of 250% in Thursday's public market debut, Yahoo Finance's Jake Conley reports. Conley writes: Read the full story here. Figma (FIG) stock looked set to surge again on Friday, rising as much as 19% in premarket trading after shares rocketed higher with a gain of 250% in Thursday's public market debut, Yahoo Finance's Jake Conley reports. Conley writes: Read the full story here. New healthcare jobs continue to lead gains Here's a look at US employment by sector in July. Where hiring picked up: Where hiring declined: Here's a look at US employment by sector in July. Where hiring picked up: Where hiring declined: US labor market adds 73,000 jobs in July while unemployment rate hits 4.2% Stock futures fell premarket after the July jobs report showed US nonfarm payrolls missed estimates. Dow Jones Industrial Average futures (YM=F) dropped 0.9%, while futures for the S&P 500 (ES=F) fell around 1%. Contracts on the tech-heavy Nasdaq 100 (NQ=F) sank 1.1%. Yahoo Finance's Josh Schafer reports: Read more here. Stock futures fell premarket after the July jobs report showed US nonfarm payrolls missed estimates. Dow Jones Industrial Average futures (YM=F) dropped 0.9%, while futures for the S&P 500 (ES=F) fell around 1%. Contracts on the tech-heavy Nasdaq 100 (NQ=F) sank 1.1%. Yahoo Finance's Josh Schafer reports: Read more here. European stocks slide after Trump announces new tariffs European stocks fell on Friday after President Trump confirmed new tariff rates, including a 15% tariff rate on goods from the European Union and a 10% rate for the UK. In London, the benchmark FTSE 100 index (^FTSE) fell 0.5%. The pan-European Stoxx 600 (^STOXX) index shed 0.75%, while Germany's DAX (^GDAXI) dropped 1.89% and the CAC (^FCHI) in Paris declined 2%. In a twist, Trump said the new tariffs will take effect a week from now, instead of today, as was originally telegraphed. Still, global markets were rattled by the latest change to US trade policy. Swiss manufacturers warned Friday that tens of thousands of jobs are at risk after President Trump imposed steep tariffs. European pharmaceutical companies, such as Novo Nordisk (NVO) and AstraZeneca (AZN), were also in the red Thursday and will be stocks to watch Friday after Trump sent a letter to 17 companies, urging them to lower prices. European stocks fell on Friday after President Trump confirmed new tariff rates, including a 15% tariff rate on goods from the European Union and a 10% rate for the UK. In London, the benchmark FTSE 100 index (^FTSE) fell 0.5%. The pan-European Stoxx 600 (^STOXX) index shed 0.75%, while Germany's DAX (^GDAXI) dropped 1.89% and the CAC (^FCHI) in Paris declined 2%. In a twist, Trump said the new tariffs will take effect a week from now, instead of today, as was originally telegraphed. Still, global markets were rattled by the latest change to US trade policy. Swiss manufacturers warned Friday that tens of thousands of jobs are at risk after President Trump imposed steep tariffs. European pharmaceutical companies, such as Novo Nordisk (NVO) and AstraZeneca (AZN), were also in the red Thursday and will be stocks to watch Friday after Trump sent a letter to 17 companies, urging them to lower prices. Good morning. Here's what's happening today. Economic calendar: Nonfarm payrolls (July); Unemployment rate (July); Average hourly earnings (July); Average weekly hours worked (July); Labor force participation rate (July); ISM manufacturing (July); S&P Global US manufacturing (July final); Construction spending (June); University of Michigan consumer sentiment (July final) Earnings: Chevron (CVX), Colgate-Palmolive (CL), Exxon Mobil (XOM) Here are some of the biggest stories you may have missed overnight and early this morning: July jobs report on deck: What to expect Trump stuns markets again with latest bid to reshape US trade order Trump: Fed board should assume control if Powell won't cut rates Trump lays out sweeping tariff hikes for dozens of countries Amazon stock sinks as cloud results fail to impress Moderna beats estimates on COVID booster sales, cost cuts Exxon beats profit estimates as output rises despite weak oil prices Chevron beats Wall Street profit estimates with record output Economic calendar: Nonfarm payrolls (July); Unemployment rate (July); Average hourly earnings (July); Average weekly hours worked (July); Labor force participation rate (July); ISM manufacturing (July); S&P Global US manufacturing (July final); Construction spending (June); University of Michigan consumer sentiment (July final) Earnings: Chevron (CVX), Colgate-Palmolive (CL), Exxon Mobil (XOM) Here are some of the biggest stories you may have missed overnight and early this morning: July jobs report on deck: What to expect Trump stuns markets again with latest bid to reshape US trade order Trump: Fed board should assume control if Powell won't cut rates Trump lays out sweeping tariff hikes for dozens of countries Amazon stock sinks as cloud results fail to impress Moderna beats estimates on COVID booster sales, cost cuts Exxon beats profit estimates as output rises despite weak oil prices Chevron beats Wall Street profit estimates with record output Big Tech's AI and core businesses are blurring together This week, investors heard quarterly updates from Apple (AAPL), Amazon (AMZN), Microsoft (MSFT), and Meta (META). And in the midst of strong quarterly financial results from Big Tech, a new paradigm is emerging, Yahoo Finance's Hamza Shaban wrote in today's Morning Brief. Hamza writes: Read more here. This week, investors heard quarterly updates from Apple (AAPL), Amazon (AMZN), Microsoft (MSFT), and Meta (META). And in the midst of strong quarterly financial results from Big Tech, a new paradigm is emerging, Yahoo Finance's Hamza Shaban wrote in today's Morning Brief. Hamza writes: Read more here. Chevron beats Wall Street profit estimates with record production Chevron (CVX) beat analyst estimates on Friday for second-quarter profit as record oil and gas production and lower capital expenditure helped the US oil producer boost earnings despite weaker crude prices. Chevron shares were flat in premarket trading. Reuters reports: Read more here. Chevron (CVX) beat analyst estimates on Friday for second-quarter profit as record oil and gas production and lower capital expenditure helped the US oil producer boost earnings despite weaker crude prices. Chevron shares were flat in premarket trading. Reuters reports: Read more here. Sign in to access your portfolio
Forbes
20 minutes ago
- Forbes
Apple Loop: iPhone 17 Pro Upgrades, iPadOS Success, iPhone 17 Price Shock
Taking a look back at this week's news and headlines from across the Apple world, including iPhone 17 pricing, iPhone 17 Pro's display upgrade, cheaper MacBook details, iPadOS 26 success, Tim Cook's AI shopping list, an iPhone milestone, and more... Apple Loop is here to remind you of a few of the many discussions around Apple in the last seven days. You can also read my weekly digest of Android news here on Forbes. iPhone 17 Price Rise The last few iPhones have resisted the price push, but with the rising cost of components and the impact of trade tariffs, Apple will be raising the price of the iPhone 17, 17 Pro, and 17 Pro Max models set for release in September. 'Jefferies' analyst Edison Lee] expects a $50 price increase for iPhone 17 Slim/P/PM models to offset rising component costs and China tariffs. Other potential cost pressures from India and sector tariffs are not yet included." (Forbes). iPhone 17 Pro Display Design Leak A subtle change, but one that may be more obvious than most, looks to br coming to the iPhone 17 Pro. The iPhone 17 screen was already expected to deliver a faster refresh rate, albeit not a variable-rate Pro Motion model. Turns out the iPhoen 17 Pro displays are getting their own upgrade thanks to a new coating: "The anti-reflective display has been rumored for some months, and the latest source promises another benefit: greater scratch resistance. The display is, after all, the main way you interact with your smartphone, so the more inviting it looks, the more you'll use your phone." (Forbes). How Much For An A18-powered MacBook? Apple has traditionally kept a $999 price tag for its base MacBook Air. With an iPhone Axx chipset model rumours, will Apple take the plunge and officially drop below that price tag? "If the circumstances are right, Apple will drop under the thousand-dollar mark. The question will be how aggressive Apple wants to be. The Walmart deal will have given it significant data on consumers and their expectations of Apple at that price, which will likely inform the decision on an A18 MacBook. Apple will also want to balance its brand. Somewhere between $699 and $899 feels likely." (Forbes). iPadOS 26 Preview Finds Favor Has the balance of providing the best consumer experience possible for iPad users, while not threatening to cannibalize Mac and macBook sales finally been solved with iPadOS 26? Andrew Cunningham argues that it has, in his preview of 2025's iPadOS update: "There are still things I'd like to see improve, and iPadOS itself still isn't going to replace macOS for the class of developers and power users who want a Terminal window and less-fettered access to external accessories and filesystems and the ability to run whatever code they want. But this finally feels close to an interface that feels right for the iPad while still being consistent and familiar for people coming from macOS, Windows, ChromeOS, or any other traditional desktop operating system." (Ars Technica). Half A Billion Reasons To Love F1: The Movie The summer blockbuster rule of thumb is to pass the half-billion-dollar mark. The tentpole superhero movies of 2025 have managed that… and so has Apple's little automotive experiment: "As for Apple's 'F1,' passing the $500 million mark is just another feather in the cap for the studio. Earlier this month, the film became Apple's best film release ever, surpassing Ridley Scott's 'Napoleon,' which generated $221 million during its 2023 run, to become Apple's then-highest-grossing theatrical release." (CNBC). Apple Intelligence's Shopping List During Apple's quarterly earnings call, Tim Cook touched on the rollout of Apple Intelligence and the lead the competition has. He also acknowledged that—in a rare move—Apple would consider buying a company to boost the artificial intelligence toolbox the company has: 'We're very open to M&A that accelerates our roadmap. We're not stuck on a certain size company. (…) we basically ask ourselves whether a company can help us accelerate a roadmap. If they do, then we are interested. But we don't have anything to share specifically today.' (Apple via 9to5Mac). Special Offer For iPhone 13 Owners US carrier T-Mobile has opened up its satellite connectivity to the iPhone 13 family. It is available to all with a subscription service, and if you are on its Experience Beyond plan, you'll have to as a free addition. "When Apple made the surprise announcement that its iPhone 13 series was suddenly compatible with carrier-supported satellite connectivity, it was ushering in a new way to stay connected. The first network to support this, T-Mobile, has just gone live with its new T-Satellite service for iPhones and other handsets. And even a temporary outage hasn't stopped the new service from arriving. " (Forbes). And Finally... Also on the call was the news on a signifcaint landmark in iPhone sales. Three billion handsets sold: "Cook's comments came during Apple's Q3 2025 earnings call today, with little fanfare. 'We also recently marked a significant milestone. We shipped the 3 billionth iPhone since its launch in 2007,' Cook said during his prepared remarks. The figure is notable because Apple stopped reporting unit sales for its hardware products in November 2018. Then-Apple CFO Luca Maestri said at the time that the 'number of units sold in a quarter is not representative of underlying state of business.' (9to5Mac). Apple Loop brings you seven days worth of highlights every weekend here on Forbes. Don't forget to follow me so you don't miss any coverage in the future. Last week's Apple Loop can be read here, or this week's edition of Loop's sister column, Android Circuit, is also available on Forbes.
