Organization: Indian Institute Of Technology Kanpur
Apply By: 30 Apr 2019
Indian Institute of Technology Kanpur (also known as IIT Kanpur or IITK) is a public engineering institution located in Kanpur, Uttar Pradesh. It was declared to be an Institute of National Importance by the Government of India under the Institutes of Technology Act. Established in 1960 as one of the first Indian Institutes of Technology, the institute was created with the assistance of a consortium of nine US research universities as part of the Kanpur Indo-American Programme (KIAP)
About the Grant:
Innovative Ventures and Technologies for Development (INVENT) is a joint collaboration of the Technology Development Board (TDB), Government of India and the Department for International Development (DFID), Government of the United Kingdom. INVENT aims to make a positive social impact by providing incubation support to technology-oriented start-ups. Through INVENT program, SIDBI Innovation and Incubation Centre (SIIC) at IIT Kanpur aims to incubate 40 start-ups working in social enterprise.
Vision: Developing entrepreneurial ecosystem to make positive social impact to people living near the Bottom of Pyramid
Target: Providing incubation support to forty (40) social start-ups operating primarily in one of the eight (8) Low-Income states of India
Significant market opportunity exists to develop sustainable solutions to social and economic difficulties facing low-income communities at the Bottom of the Pyramid (BoP). Yet, providing relevant products and services to BoP markets is often complex. 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. The INVENT will address challenges and barriers across inclusive innovation lifecycle, for the benefit of up to 1 million poor people at the bottom of the economic pyramid. The incubation support is aimed at creating a viable pipeline for impact investments in the 8 low income states of India (Uttar Pradesh, Madhya Pradesh, Bihar, Chhattisgarh, Jharkhand, Rajasthan, Orissa and West Bengal).
Why become a part of INVENT?
- Seed funding upon basic validation
- On-campus as well as virtual incubation available
- Dedicated mentors with domain expertise
- Monthly inspirational events and dedicated capacity building workshops
- Access to SIIC tinkering labs and IIT Kanpur infrastructure
- Networking with downstream investors for scaling up operations
- Start-ups eager to bring about social change or deliver significant Positive Impact on Bottom of Pyramid (BoP).
- Start-ups from any domain impacting the society with a strong plan to work in for-profit mode. The broad areas in which we seek incubates are agriculture and food, healthcare and sanitation, education, energy, information technology, etc.
- Start-ups having explicit technology-based innovation or intervention in their products/services.
- Social change or impact means either Increasing the monthly income of low/mid level income families; and/or Providing existing services/products at a lesser cost
Application Deadline: 30th April 2019
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