61 social startups pitch for 9 Govt depts, 20 investors
As many as 61 social startups completed the Social Impact Bootcamp 2020 launched by Telangana State Innovation Cell (TSIC). While undergoing mentorship, these startups pitched for more than 20 investors and nine government departments of Telangana State.
IAN plans to invest over Rs 100 crore in start-ups firms across sectors
Hyderabad: As many as 61 social startups completed the Social Impact Bootcamp 2020 launched by Telangana State Innovation Cell (TSIC). While undergoing mentorship, these startups pitched for more than 20 investors and nine government departments of Telangana State. TSIC organised this camp in collaboration with IT&C Department, Government of Telangana, T-Hub Hyderabad, Bala Vikasa International Centre, Nutrihub-TBI, ICRISAT and AISEA. "This virtual event provided mentorship, workshops, investors & Government-connect for social startups across India in various sectors - health, education, agriculture, skilling, environment, disabled welfare, etc," a press statement said.
Social Impact Bootcamp (SIB) was an intensive four-week long mentoring programme for social startups and enterprises that are solving some of the most pressing challenges we are facing today while contributing towards reaching the Sustainable Development Goals (SDGs). The Bootcamp launched in November 2020 saw more than 95 applications that were then shortlisted to 61 startups.
A total of 36 mentors from various incubators within and beyond the State have mentored the startups with each dedicating three hours. Post the mentorship, the startups have also been given access to workshops on funding, pivoting, pitching refinement, and impact measurement, thus finishing the cyclic need for any social startup.
The Bootcamp organised a demo day for investors where more than 20 investors from various organisations have listened to startup pitches. As many as 28 startups have received 40 interests from multiple investors to further explore the solutions. The Bootcamp organised exclusive department-specific pitching sessions where the startups have pitched to the Secretaries to Government, Special Chief Secretaries, and Principal Secretaries of the departments including Agriculture, Health, School Education, Energy and Environment, Municipal Administration and Urban Development, Women, Child and Disabled Welfare, Information Technologies, Panchayat Raj and Rural Development. A few startups have been facilitated with connections through which the solutions for pilot procurement are being explored.
Speaking about the Bootcamp, Principal Secretary of IT&C, Jayesh Ranjan, said, "Telangana has been a pioneer in extending support to startups during unprecedented times. But during these times what we saw was a need for solutions inclusive of an empathetic approach to solve the social issues. The Bootcamp is a testimony to that notion. The Bootcamp paved way for 60+ startups across India to dialogue with State Government Officials in exploring the potential collaborations and has also set a strong base for Social Innovation Policy, the state is planning to launch."
Ravi Narayan, Chief Innovation Officer, TSIC, said, "Post-covid, the broader role a business should play in society has undergone substantial change, with Social Impact element taking a centered dialogue. We at TSIC took a step to scout and rejig such 61 startups out of 96 applicants across India through mentorship and various connections. While the program's major notion is to mobilise stakeholders for specific support to social startups, it also paved the way to build a vibrant ecosystem of Social Impact in the state inclusive of startups, NGOs, incubators, investors, mentors, and Government."
