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Of all the start-ups, those working to address some social problem are different.
Besides helping them make money, these ‘social start-ups’ reach out to a large audience and solve their problems using technology. A good number of investors love investing in such ventures.
3-month programmeThe International Institute of Information Technology (Hyderabad) has started an exclusive incubator programme called Tech4Social for the social start-ups. Launched in May in association with Surge Impact Foundation, the incubator will have 10 start-ups for the three-month programme. The final selection will be completed this week.
Early stage start-ups“We are going to a new batch every quarter with not more than 10 start-ups. Tech4Social is specifically designed for early stage start-ups. So, if someone has an idea for social enterprise but isn’t sure on how to go about it, this program gives them the opportunity to validate and execute it,” Ramesh Loganathan, Head of Research, Outreach and Co-innovation at IIIT (H), has said.
Seed fund supportThe hand-picked start-ups will receive a grant of ₹50,000 each. At the end of the programme, potential start-ups can pitch for seed fund support to the IIIT seed fund network for amounts ranging between ₹5-25 lakh.
The programme will give entrepreneurs an overview of the important aspects of building and running a social enterprise. They will be exposed to various stages of building a company, challenges the leaders face and how technology can be deployed for social good.
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