invent social entrepreneurship program at iit kanpur
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INVENT Social Incubation Program
SIDBI Innovation and Incubation CentreIndian Institute of Technology Kanpur
Are you a social entrepreneur looking for incubation? Join us!!
INVENT: An Overview
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Innovative Ventures and Technologies for Development• A joint collaboration of the Department for International
Development (DFID) of Govt. of the United Kingdom and Technology Development Board (TDB) of Govt. of India
• Aimed at improving lives of people living at the Bottom of Pyramid
INVENT Implementation
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National Award Winners 2011
• 8 low-income states have been selected for INVENT implementation
• Rajasthan, Madhya Pradesh, Uttar Pradesh, Chhattisgarh, Bihar, Jharkhand, Odisha and West Bengal
• Total 4 incubation centres have been selected to implement INVENT program
• SIIC at IIT Kanpur is one of them
Bottom of Pyramid
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National Award Winners 2011
• BoP indicates the largest but poorest socio-economic group
• People with a daily income of $2.5
• 70% of the Indian population is currently living at BoP
• INVENT aims to create a positive impact to the lives of these people
Population
Wea
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Why Social Entrepreneurship?
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Prof. Mohammad Yunus, founder of Grameen Bank says…• When we want to help the poor, we usually offer them
charity• Most often we use charity to avoid recognizing the
problem• But charity is no solution to poverty• Charity only perpetuates poverty by taking the initiative
away from the poor
Empowerment of the poor by creating jobs and steady income is the right way forward
Social Business Vs NGO…
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NGO Social Business
Primary objective Social impact Social impact
Products/services priced for sale
Business model
N/A Price ≥ Costs
Maximizes social impact
Maximizes social impact
Funded through donations
Financially self-sustainable
Social Entrepreneurship
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National Award Winners 2011
A start-up which pursues an innovative idea with the potential to solve a community problem through• Innovation and disruptive technology• Product or service• For-profit business model• Making positive social impact• Increasing the monthly income of low/mid level income
families; and/or
• Providing existing services/products at a lesser cost
Why join us?
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Association with IIT Kanpur Seed funding upon basic validation Dedicated mentors with domain expertise Monthly inspirational events and dedicated capacity
building workshops Access to SIIC tinkering labs and facilities Networking with downstream investors for scaling
up operations
Funding Opportunities
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National Award Winners 2011
Funding of up to INR 50 lakh available for qualified start-ups
Funding models
Funding in tranches based on pre-agreed milestones
Grant and equity Loan and equity
50% grant + 50% equity (fixed)
50% loan + 50% equity (fixed)
Grant not to be repaid Interest-free loan to be repaid
Equity portion higher Equity portion lower
Other support
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National Award Winners 2011
Pool of sector-expert mentors Association with several organizations for value-
addition
Other Funding Opportunities
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National Award Winners 2011
PRomoting Innovations In Individuals, Start-Ups and MSMEs (PRISM)
PRomoting and Accelerating Young and ASpiring technology entrepreneurs (PRAYAS)
NIDHI – EIR (Entrepreneurs in residence) Biotechnology Industry Research Assistance
Council (BIRAC)
Have an idea or a product? Reach us!
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Dr. Abhijit SatheChief Executive Officer INVENT ProgramEmail: [email protected]
Prof. Sameer KhandekarAssociate Dean, Innovation and IncubationIIT KanpurEmail: [email protected]
Visit us at iitk.ac.in/invent and Apply online!
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Examples of start-ups working in Social Enterprise sector
Education (product)
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National Award Winners 2011
www.prosoc.co.in
• School bag for underprivileged kids that do not have access to bench in school
Education (service)
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National Award Winners 2011
• Analytical web tools to redefine the ways educational institutions are managed
www.empoweru.in
Water and Sanitation
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National Award Winners 2011
• Inexpensive water filter for household potable water• Ultrafiltration using nanofibre technology
www.technorbital.com
Water and Sanitation
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National Award Winners 2011
• Mobile water ATM for providing affordable drinking water to people on-the-go
• Eliminates need of expensive bottled water and plastic water pouches
www.waah.biz