The IAN Incubator aims to incubate and nurture over a 100 social enterprises serving the base of the economic pyramid.
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.