IIM-V rolls out startup programme for social entrepreneurs

A maximum of 25 startups will be incubated for one year at IIMV-FIELD – the incubation and startup hub of IIMV.

The Indian Institute of Management (IIM) Visakhapatnam has rolled out ‘social impactpreneurs program’ a new startup programme. The 15-month programme envisages addressing the gaps in the critical social sector indices that have been identified by NITI Aayog. Under this programme, 100 startups will be supported by the premiere b-school, which have been working on novel applications, concepts, or themes with the potential to solve community-based problems, in multiple phases.

The programme to nurture and enable the social entrepreneurs

Finally, a maximum of 25 startups will be incubated for one year at IIMV-FIELD – the incubation and startup hub of IIMV. Hyderabad-based MTAR Technologies Ltd. has come forward to fund the programme. The incubated startups will get prototyping grant and seed support fund from IIMV-FIELD, apart from the mentoring, networking, capacity building and fundraising support.

IIM Vizag director Professor M Chandrasekhar told TOI that the programme has been designed to nurture and enable the social entrepreneurs to bring forth transformational changes to the society. “This is for those social entrepreneurs who are interested in creating not only ‘value for money’, but also ‘value for many’. The focus of the programme will be on key social indices as identified by NITI Aayog such as poverty alleviation, water management, education and health, nutrition, skill development, etc. MTAR Technologies Ltd. Hyderabad, a high-tech precision engineering company, serving core sectors such as nuclear, space and defence, towards this programme, is funding the programme under their corporate social responsibility initiative” said Professor Chandrasekhar.

“The social ventures that would be incubated as part of program will channelise their entrepreneurial spirit and creative energies to make a difference to society,” added Professor Chandrasekhar.

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