AFI, IIIT-H, IIT-H, T-Hub join hands for social enterprises
Hyderabad: Action For India (AFI), International Institute of Information Technology, Hyderabad (IIIT-H), Indian Institute of Technology Hyderabad (IIT-H), and T-Hub have announced a collaboration for developing an inclusive social entrepreneurship ecosystem in Telangana.
The memorandum of understanding signed at the the annual Action For India Forum 2019 at ISB Hyderabad, focuses on pooling the four organisations' experiences and resources to create an ecosystem to support tech-enabled, social impact startups, countrywide.
The not-for-profit collaboration aims at delivering strategic scaling support to 5,000 social impact startups over five years. It is designed to address the critical challenges faced by social entrepreneurs with a special focus on business model, market discovery, go-to-market strategy, scale-up strategy, right technology application and securing funds. The partnership also aims to put Telangana as the top state in the country supporting the startups.
While IIIT-H-Atal Incubation Centre will incubate and support these startups, IIT-H and AFI will start an accelerator programme to catalyse social impact ventures. AFI will engage the social enterprise ecosystem through the nascent AFI Impact Investment Fund, its Silicon Valley Leadership Circle, Influencer & Sector Champion networks, and deep government & policy linkages.
In parallel, T-Hub will bring its expertise in capacity-building, network of mentors, investors, corporate connect and legal advisory team to social impact startups to help scale business. IIT-H and IIIT-H will also enable social impact startups with technology upgradation and support with government connections.
India currently has 400 social impact startups making up 5.2 per cent of the total startup ecosystem. According to T-Hub CEO Ravi Narayan social enterprises improve human life by deploying technology need solid support and a robust growth ecosystem. "T-Hub is collaborating with like-minded ecosystem enablers like IITH, IIITH and AFI to utilise our existing assets and experiences to build a social impact ecosystem that will provide scaling support to social entrepreneurs," he said.
At the forum, 10 social enterprise startups were selected from 300 applications that AFI got. These 10 startups include A2P Energy, Bharat Rohan, Bookmybai, Chitmonks, Donate Kart, Drona Maps, Farm Again, SLII, WeGot and Cerelia Nutritech. Out of these, two startups - Chitmonks and Donate Kart - are from T-Hub.