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The/Nudge Foundation, a non-profit organisation whose mission is to take 1 million Indians out of poverty by 2020, has launched N/Core, an incubator dedicated to non-profit start-ups working on poverty-related problems. The/Nudge will invest over ₹50 crore to incubate and support 100 non-profit start-ups through N/Core in the next five years.
“The magnitude of India’s poverty related problems needs our entire generation to invest itself single-mindedly into solving this issue. With N/Core, we want to make it easier for the ones who care to jump in and do their bit. N/Core is a bold attempt to help create a new breed of high-impact and scalable non-profits” said Atul Satija, Founder CEO of The/Nudge.
N/Core aims to build the necessary ecosystem for early-stage (0-3 years old) non-profits by attracting smart people and providing them with seed grants ranging from ₹25 lakh to ₹75 lakh, co-working space, mentorships and the right connections for growth. For the first time, over 100 of the most renowned leaders from start-ups, non-profits, and large corporates are coming together as a ‘Collective’ to mentor the non-profit start-ups that will be a part of N/Core.
‘Collective’ leadershipThe ‘Collective’ includes names like Gautam John (Director, Nilekani Philanthropies), Ujwal Thacker (Advisor PWC, ex-CEO Pratham, GiveIndia), Sameer Dua (Business Author), Kedar Lele (Vice-President, Unilever), Punit Soni (ex-Googler, ex-Flipkart), Shikha Uberoi (Former India No.1 Tennis player), Parminder Singh (ex-MD, Twitter - SE, India, MENA), Manish Dugar (CFO, Practo), Lakshmi Pratury (Founder & CEO, INKTalks) and Naveen Jha (CEO, Deshpande Foundation), among others.
Seed grantSince its inception in July 2015, The/Nudge has provided livelihoods to 410 underprivileged men who take home an average salary of ₹13,000 and women who get an average salary of ₹8,600 in the age profile of 18-23 years as data entry operators, drivers and beauticians. Satija says, The/Nudge will provide livelihoods to 5,000 underprivileged men and women by the year end. The Foundation has received a seed-grant of $200,000 from Nandan Nilekani and contributions of $50,000 from Great Wall Club, $75,000 from InMobi and $40,000 from Paytm.
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