It’s been a while since we did a weekly roundup and on behalf of the editorial team at Ennovent sincere apologies for those that have missed us! This week we share news about the winners of the NASSCOM Social Innovation Honours as well as a story about a 26 year old and her attempt to reduce world poverty through CCT. Further, we discuss World Bank’s USD 1 million grant initiative for north-east India as well as how impact investors committed USD $390mn in India in 2013. We hope you enjoy this week’s wrap-up – do share your thoughts in the comments below!
NASSCOM Foundation, the social development arm of NASSCOM, announced the winners of the NASSCOM Social Innovation Honours 2014 edition. This year the NASSCOM Social Innovation Honours received astounding responses with over 300 final applications from all parts of the country. This year finalists consists of i-Mobile Labs, Far-eye – last mile delivery of products, Cloud-based proprietary Health Management Information Systems, Centralised Online Real-time Electronic PDS and others that are geared to provide services, strengthen processes, and creating lasting solutions for the end beneficiaries in India.
A lot of different NGOs and social enterprises are trying to improve the world in different ways. Some of them use methods which are able to enlarge their impact on a broader scale, and one such method is the Conditional Cash Transfer (CCT). This program aims to reduce poverty by making welfare programs conditional upon the receivers’ actions. Meet one of the few organisations in the world working in a successful way with CCT, New Incentives which is run by Svetha Janumpalli, a 26-year-old American girl of Indian origin. Read her complete interview on Social Story here.
World Bank recently launched a competitive grant-based funding with access to over $ 1 million for profit and non-profit organisations working in the area of delivering services to the poor in north-eastern states. With the success of 2013 India Development Marketplace, the programme for 2014 aims to focus on enterprises that target the north-eastern states of Assam, Mizoram and Meghalaya. The DM is a competitive grant-based programme that will identify and support non-profit and for-profit bodies that effectively deliver crucial services to the poor. In 2014, the DM will award approximately 10 organisations with grant funding up to USD 150,000 (Rs 94 lakh) each. In addition to the financial resources, the grantees will be supported through a tailored capacity development programme delivered with the local partners. Learn more about the programme here.
Impact equity investment continued to be an important component of the India private equity landscape, comprising 23 per cent of the overall private equity transactions in India. These investments were spread across 80 deals and totaled $390 million. Some of the key trends in impact equity investing were that most investments were in early-stage impact businesses reflecting the youth of this sector. Financial servicescontinued to be the leading sector with 22 transactions in 2013 followed by strong showing for agri-business and healthcare with 17 and 13 transactions respectively. There has been a significant growth of seed-stage and micro-seed stage investments priming the pump for more investment activity in 2014. According to a report from Unitus Capital, impact investing has now established itself as a key driver of private equity in the Indian economy. Learn more here
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