In January, Dasra, Omidyar Network, and the Rockefeller Foundation teamed up to launch the India Impact Economy Innovations Fund (IEIF) to foster the growth of the impact investing industry and social enterprise sector.
According to a release, the IEIF will fund projects that enable earlier stage capital solutions, foster entrepreneurial ecosystems, produce research into policy development, promote and establish impact investing industry infrastructure, develop market ecosystems for specific sectors, and form leadership and networking platforms for common actions.
The IEIF was launched at the Impact Investing Forum (IIF) and is currently seeking to support 5-8 proposals. Until March 15, organizations may apply for a one-year grant worth up to US$200,000. The total amount available from this fund is US$800,000.
Dasra could not disclose how many grant applications they have received since announcing the request for proposals, but did say they expect to receive between 30 to 40 by the deadline.
This initiative will also prioritize critical areas that need to be addressed, as pointed out during the IIF, which are creating a culture of high-performing impact entrepreneurs through accelerators and incubators, having an enabling government, and unlocking capital by educating high-net-worth individuals about impact investing.
“We see a lot of potential for impact investing in India. With this grant, we hope to build an ecosystem that nurtures innovation, unlocks different forms of capital and fosters collaboration,” said Margot Brandenburg, Associate Director of the Rockefeller Foundation, in an emailed statement to Social Enterprise Buzz.
Photo from Dasra.
