Tuesday, April 16, 2024
Outlook.com
Outlook India
Outlook Business

NSRCEL, IIM Bangalore Incubates 100+ Start-Ups In Social Entrepreneurship Programme

From 2017 to 2023, NSRCEL incubated over 100 ventures and provided grants totaling over Rs. 11 crores. These ventures also attracted follow-on funding exceeding Rs. 33 crores.

NSRCEL, IIM Bangalore Incubates 100+ Start-Ups In Social Entrepreneurship Programme
POSTED ON February 14, 2024 12:40 PM

The Incubation Centre for Start-Ups and Entrepreneurs (NSRCEL) has incubated 100 ventures through ‘Impact Orbit - its Social Entrepreneurship vertical’, it said in a statement.  

Initiative in 2017, NSRCEL’s Impact Orbit is one of the largest social enterprise incubators in terms of the volume of start-ups nurtured. 

The incubation center incubates both for-profit and non-profit ventures on a substantial scale. From 2017 to 2023, NSRCEL incubated over 100 ventures, generating employment for over 12,000 individuals, impacting the lives of more than 1.3 million people, and deploying grants totaling Rs. 11+ crores in funding. These ventures further raised follow-on funding exceeding Rs. 33 crores.  

To commemorate this significant milestone, NSRCEL hosted an event graced by eminent dignitaries including Kumar Anurag Pratap, vice-president and corporate social responsibility leader, Capgemini India; Abhishek Rozatkar, assistant general manager, SEBI; Randhir Mishra, founder, Unnati Foundation among others.   

Siddhesh Sakore, founder of Agro Rangers; Kalyani Chavali, founder of Sahrudaya Foods; Satendra Lilhare, founder of Bastar se Bazaar Tak; Kunjpreet Arora, founder of Angirus Ind; and many more ventures from across Impact Orbit’s past cohorts were present from across India.   

Speaking on the occasion Anand Sri Ganesh, CEO of NSRCEL said, “This event marks a momentous day for NSRCEL as we celebrate the incubation of 100 social impact startups. This milestone underscores our unwavering commitment to fostering innovation and driving positive change in society. Each of these startups embodies the spirit of entrepreneurship, harnessing innovation to address pressing social challenges. As we reflect on this achievement, we are inspired by the transformative impact these startups are poised to make. Together, we will continue to empower changemakers and build a better, more inclusive future for all.”   

Impact Orbit aims to support social enterprises in three key themes: Technology for Impact, Circular Economy, and Rural Innovations. NSRCEL actively fosters collaborations and strategic partnerships with other ecosystem stakeholders to enhance the program's impact and reach. Looking ahead, between 2023 and 2025, NSRCEL aims to incubate approximately 200 more ventures, demonstrating ambitious growth, the Bangalore-based incubation center said. 

  • Related Articles

    Page Group, a recruitment partner of Paytm, said the company is currently hiring for product and business positions. 

    Paytm Hiring For Various Positions; Claims High Interest From Top Talents

    Paytm COO Bhavish Gupta said that the company will not be issuing new loans for "maybe a couple of weeks" before resolving operational challenges posed due to RBI restriction

    Paytm Tentative Timeline To Restart Loan Sanctioning Ends On Feb 14

    In 2023, IPV secured partial exits from 11 other start-ups, delivering IRRs ranging from 20 per cent to 97 per cent, the company announced.

    IPV Plans to Invest Rs 150-200 Crore in Start-Ups This Year; Exits 14 Firms With 61% Return