A new initiative aims to support the growth of high-impact, early-stage enterprises that serve the bottom of the pyramid in India.
Intellecap, Department For International Development (DFID) UK, and German developmental services organization Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH recently announced their collaboration to launch a regional forum called “Sankalp Forum-Samridhi Social Enterprise Recognition” to support scalable and sustainable businesses in eight low-income states (Bihar, Chhattisgarh, Jharkhand, Madhya Pradesh, Orissa, Rajasthan, Uttar Pradesh and West Bengal).
This forum is an extension of the Sankalp Forum, which began in 2009 by Intellecap and has since created a community of over 10,000 social entrepreneurs, impact investors, corporations, academics, and policymakers to catalyze the flow of capital to sustainable and scalable enterprises in India.
Under this new initiative, a cash grant of INR 5 Lacs will be given to an enterprise that showcases social impact alongside a strong business in the sectors of clean energy, agriculture and food, and the provision of basic services (water, sanitation, health, and education). An additional INR 2 Lacs will be given to an enterprise that produces positive impact for women. They have been accepting nominations since the initiative was announced in early September.
In an email conversation, the forum’s spokesperson said a total of 50 early-stage social enterprises were screened that are either currently working in the eight low-income states or are planning to expand their operations in these states. Finalists have been selected and the winners will be chosen on October 15 and announced on October 16 at the Sankalp Regional Summit in Patna, Bihar.
The finalists are:
Agriculture, Food, and Rural Business
Bhushan Agro Technologies
Eco Tasar Silk Pvt Ltd.
Kautilya Phytoextracts Pvt Ltd.
Basic Services
G.V. Meditech Ltd.
Gram Tarang Inclusive Development Services Pvt. Ltd.
Kanungo Institute of Diabetes Specialities
Clean Energy/Technology
Claro Energy Pvt Ltd.
Greenway Grameen Infra
Greenlight Planet India Pvt Ltd.
Women Empowerment and Impact
Eco Tasar Silk Pvt Ltd.
Frontier Markets
Greenway Grameen Infra
Participating enterprises will have the opportunity to get input on capacity building, strategic advice, and mentoring provided by experts from Intellecap, investors, and seasoned entrepreneurs. DFID UK will be funding the grant.
The Sankalp Forum-Samridhi Social Enterprise Recognition will be the first time that recognition is given to social enterprises active in India’s lowest income states.