Welcome Guest

Businessex.Com
Home News IAN to launch incubation program for social enterprises with SIDBI & Germany's GIZ

IAN to launch incubation program for social enterprises with SIDBI & Germany's GIZ

Tags: sme, msme, giz, ian, indian angel network, angel investors, social enterprises , impact investing, sidbi, incubation program

June 05, 2014 | COMMENTS ( 0 )

IAN to launch incubation program for social enterprises with SIDBI & Germany\'s GIZ

Indian Angel Network (IAN), India’s first and Asia’s largest network of angel investors investing in start-ups and early stage ventures has launched an incubation program in association with Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, and the Small Industries Development Bank of India (SIDBI) to empower entrepreneurs in building sustainable and scalable businesses in the social impact space.

 

The IAN Incubator aims to incubate and nurture over a 100 social enterprises serving the base of the economic pyramid. The focus of this incubation program is to help create and breed sustainable enterprises which will create positive impact on the lives of our citizens and also create wealth for the promoters and returns for the investors. This will ensure that socially beneficial organisations grow and are not dependant on subsidies or philanthropic monies. This initiative will help bring money, mentors and market access to impact focused start-up companies. GIZ and SIDBI have partnered with IAN to leverage its large pool of mentors from some of India’s most successful and renowned entrepreneurs. IAN has over 300 investors and mentors, who are accomplished entrepreneurs or professionals. The intention is to provide strategic thought leadership, high quality mentoring and financial investment to sustainable ventures.

 

Mohit Goyal, Co-founder, Indian Angel Network said, “In a country of the size and scale of India, socially relevant start-ups which can make difference to the society, is of great importance. Often we see passionate impact inclined entrepreneurs create local centres of excellence, but they do not have the experience and vision to scale those ventures nationally. IAN’s intention is to create a significant difference in creating social impact by helping and guiding passionate entrepreneurs scale up their ventures so that the good work done in pockets is extended over a larger population and geography. IAN is delighted to partner with GIZ and SIDBI.”

 

“IAN’s partnership with GIZ and SIDBI will be extremely beneficial for both the institutions. GIZ understands the social impact sector deeply, and IAN’s members add tremendous value to help entrepreneurs scale up, create a good business case and thereby be able to attract investors. Leveraging innovation and entrepreneurship will bring a paradigm change to the lives of two thirds of our citizens but with first generational, successful entrepreneurs turned angel investors, IAN looks to bring strategic guidance, operational direction, domain expertise and market access to each such venture,” said Saurabh Srivastava, co-founder, Indian Angel Network.

 

The IAN-GIZ-SIDBI Incubation Program for Social Enterprises is open to all the social impact start-ups based in India. Shortlisted applications will be assigned business mentors from the IAN mentor / investors pool, comprising of successful entrepreneurs, investors and senior professionals who nurture the designated start-up and guide the entrepreneurs in their journey. The program is designed such that the incubatee will undergo a 6 to 9 month incubation period, refining its business plan, sales strategy, some customer endorsement and access to angel investors and other funding sources.

 

Stefanie Bauer, Advisor Private Sector Development, GIZ said, “We see the partnership with Indian Angel Network and SIDBI as an important milestone and have high expectations that with the network behind, this incubation model will bring great value to the entrepreneurs. Under our new bilateral cooperation programme funded by the German Ministry of Economic Cooperation and Development (BMZ), GIZ and SIDBI are aiming to strengthen the eco-system for start-ups and social enterprises in India. We know that capital alone is not the challenge for bringing business models to scale. Much more efforts are needed to increase the number of scalable and investible social enterprises that develop solutions in important sector such as healthcare, water, sanitation, energy or education.”

 

Ajay K Kapur, Head (International Co-operation Vertical), SIDBI said, “SIDBI see this effort as a major link for creating a large funnel of social enterprises for investors and other stakeholders desirous of lending to or supporting businesses benefiting the poor. It complements SIDBI’s other support programs for sustainable and social enterprises through debt, equity and mezzanine funds as also its endeavours to support ecosystem for innovation support and financing. We hope the IAN incubation program will work with and benefit from these.”

 

“IAN’s partnership with GIZ will be extremely beneficial for both the institutions. GIZ understands the social impact sector deeply, and IAN’s members add tremendous value to help entrepreneurs scale up, create a good business case and thereby be able to attract investors. Leveraging innovation and entrepreneurship will bring a paradigm change to the lives of two thirds of our citizens but with first generational, successful entrepreneurs turned angel investors, IAN looks to bring strategic guidance, operational direction, domain expertise and market access to each such venture,” Vikram Upadhyay, Board member, IAN Incubator.

 

Indian Angel Network launched the setting up of “IAN Impact”, a specialised division with a key focus on empowering socially relevant ventures in the country in July 2013. The association with GIZ is step forward to take its commitment toward creating value for such start-ups. It’s a huge endeavour from IAN to go that extra mile which brings along its credibility with successful entrepreneurs with decades of experience. 

Please add your comment

Rating
Not readable? Change text.
Enter the characters as seen on the image (case insensitive)
  Notify me of followup comments via e-mail   Subscribe for daily newsletter

Other NEWS

Delhi based startup i2e1 raises $5,00,000

Delhi based startup i2e1 raises $5,...

December 10, 2015

Delhi-based i2e1, a smart network player platform which aims to provide low-cost and free internet to consumers and actionable ana....

Cab aggregators collaborate with state governments to boost entrepreneurship

Cab aggregators collaborate with st...

November 06, 2015

Ola and Uber, cab aggregators have signed agreements with Rajasthan government for skill development and creation of entrepreneuri....

Phase II of startup incubator T-Hub to be operational soon

Phase II of startup incubator T-Hub...

November 04, 2015

Telangana government is planning to expand T-Hub, its ambitious incubator programme, in its second phase with about Rs 150 crore i....

Sabse Technologies receives investment from Ratan Tata

Sabse Technologies receives investm...

November 04, 2015

Global telecom carrier, Sabse Technologies Inc, started by Hotmail Founder Sabeer Bhatia today announced that Tata Sons' Chairman ....

Mobile startup BlackNGreen seeks international expansion

Mobile startup BlackNGreen seeks in...

November 02, 2015

Buoyed by a strong demand for value added services, mobile startup BlackNGreen is eyeing revenue of Rs 350 crore in the next one y....

Startups seek better future under Hay Group's programme

Startups seek better future under H...

October 30, 2015

Global management consultancy, Hay Group will help 100 selected entrepreneurs transform their startups into successful companies o....

Quintype raises USD 3.25 million for product enhancement

Quintype raises USD 3.25 million fo...

October 27, 2015

Quintype, a data-driven publishing company raised USD 3.25 million to enhance product and business development. ....

Hospitality aggregator startup Qik Stay raises $250K

Hospitality aggregator startup Qik ...

October 27, 2015

Delhi-based Qik Stay, a hotel branding and aggregator startup, has raised $250K in seed round of funding from venture capital firm....

Milk Mantra targets a turnover of Rs 150 crore this fiscal

Milk Mantra targets a turnover of R...

October 26, 2015

Odisha-based startup dairy firm, Milk Mantra is targeting a turnover of Rs 150 crore this fiscal.....

Vista Rooms creates app on Instagram, targets tier II & III cities

Vista Rooms creates app on Instagra...

October 23, 2015

Mumbai-based online budget accommodation aggregator, Vista Rooms has created an app-like experience on Instagram where travellers ....

Jiyo Natural receives funding from Indian Angel Network

Jiyo Natural receives funding from ...

October 23, 2015

Indian Angel Network (IAN) has invested an undisclosed amount in Bengaluru-based consumer health food startup, Jiyo Natural.....

​​Vodoo raises USD 1 million from SAIF Partners

​​Vodoo raises USD 1 mi...

October 15, 2015

Deals and price comparison application, Vodoo has raised USD 1 million (around Rs 65 lakh) from SAIF Partners in a seed funding ro....

IBM launches public data centre in Chennai, partners with Nasscom to boost start ups

IBM launches public data centre in ...

October 15, 2015

Technology giant, IBM today launched public data centre in Chennai to tap into growing demand from financial services and governme....

For Nasscom, PPP will boost startups in India

For Nasscom, PPP will boost startup...

October 14, 2015

In the wake of some reservations over the central government creating startup funds, Nasscom's "10,000 startups" Vice President, R....

WalmartLabs to seek partnership with Indian startups

WalmartLabs to seek partnership wit...

October 14, 2015

WalmartLabs, the digital arm of US-based retailing major Walmart Stores, is scouting for startups in India for partnership and wor....