40 investors show interest in 28 social start-ups

As many as 40 investors and investment funds have showed interest in 28 social start-ups that have pitched their products and services at a ‘Social Impact Bootcamp’ organised here on Monday. As many as 61 social start-ups have presented their ideas to a host of investors, including nine State Government Departments.

The virtual Social Impact Bootcamp 2020 (SIB) provided a four-week intensive mentorship and workshops for social start-ups from across the country. The start-ups represented a variety of areas such as healthcare, education, agriculture, skilling and environment.

“We have selected 61 start-ups out of the 95 applications that we received for the boot camp. The start-ups were asked to solve some pressing challenges faced by the society,” an official of the IT Department said.

A total of 36 mentors from various incubators within and beyond the State have mentored the start-ups. Post the mentorship, the start-ups were given access to workshops on funding, pivoting, pitching refinement, and impact measurement.

Also read: One-person companies to boost start-up ecosystem in small towns

The bootcamp was organised by the Telangana State Innovation Cell (TSIC, Govt of Telangana) in association with tech start-up incubator T-Hub, Bala Vikasa International Centre, Nutrihub-TBI (a millet start-up incubator) and International Crops Research Institute for Semi-Arid Tropics.

“We organised exclusive department-specific pitching sessions, giving start-ups an opportunity to pitch their ideas to vertical heads of various governments,” he said.

“The bootcamp helped the start-ups discuss their ideas with key officials and explore opportunities for collaboration,” Jayesh Ranjan, Secretary (IT and Industries), said.

Also read: India needs more disruptive reforms to unlock its startup potential

“Post-covid, the broader role a business should play in society has undergone substantial change, with ‘social impact’ element taking the centre stage. We at TSIC took a step to scout and rejig such 61 start-ups through mentorship,” Ravi Narayan, Chief Innovation Officer of TSIC and Chief Executive Officer of T-Hub.

While the programme’s objective is to mobilise stakeholders for specific support to social start-ups, it paved the way to build a vibrant ecosystem of social impact in the State,” he said.