Significant market opportunity exists to develop sustainable solutions to social and economic difficulties faced by low-income communities. Yet, providing relevant products and services to these markets is often complex and high risk.
There is a serious SHORTAGE OF SOCIAL VENTURE INCUBATORS to provide the capacity-building and incubation support needed at idea/pilot/test stage, both in India as a whole and particularly in the low-income states.
To address this challenge, Technology Development Board (TDB), Government of India, in partnership with Department for International Development (DFID), UK have initiated the Innovative Ventures and Technologies for Development (INVENT) program, to be managed by Villgro.
entrepreneurship, given an
impetus by the government’s
‘Make in India’ campaign, has the
potential to reduce poverty at
scale as the emphasis is on
reach and scalability.
INVENT aims to support up to hundreds of entrepreneurs in the eight low-income states (LIS) –
Bihar | Chhattisgarh | Jharkhand | Madhya Pradesh |
Odisha | Rajasthan | Uttar Pradesh | West Bengal
and make dozens of them investable in the next three years.
It is designed to provide funding and capacity building to incubators located in these eight LIS of India, for
supporting early stage social enterprises operating in these states.
The lead incubator
Based on its 15 years of experience in incubating social enterprises, Villgro Innovations Foundation, as the lead incubator, is supporting 4 other incubators, with the ultimate goal of creating a viable social enterprise (for-profit) pipeline for impact investments.
The selected incubators
& hOW TO APPLY
Focus statesRajasthan | Madhya Pradesh
SIDBI Innovation & Incubation Centre (SIIC), IIT Kanpur
Focus statesUttar Pradesh | Chhattisgarh
IIM Calcutta Innovation Park (IIMCIP)
Focus statesWest Bengal | Bihar
KIIT Technology Business Incubator (KIIT TBI)
Focus statesOdisha | Jharkhand
For further information, please contact:
INVENT Program Leader | firstname.lastname@example.org
- For-profit business
- Addresses one or more needs of people living in LIS low-income population/communities
- Based on technology or business model innovation
- Capable of raising further funding from other investors
The benefits for social enterprises
The incubation support for early-stage social enterprises includes:
Capacity building and knowledge products
Access to relevant networks
Access to facilities
Access to other support services
Access to downstream investment