Villgro launches $5 mn funding for social startups

Hyderabad: IN a bid to provide a further boost to the burgeoning culture of social entrepreneurship in Hyderabad and in other cities of India, Villgro, a leading social enterprise incubator, in partnership with Switzerland-based Artha Impact, has announced the 5th edition of its flagship annual startup deal discovery platform 'iPitch'. This year, iPitch has brought together its largest coalition of impact investors and incubators to channelise the highest ever pool of funding, amounting to an unprecedented $5 million. The initiative is aimed at connecting hundreds of social entrepreneurs with impact investors. Entrepreneurs can submit their pitches till August 31.

Villgro urged entrepreneurs from Hyderabad to apply for iPitch 2021. Hyderabad, a city well-known for its long-standing legacy in the IT industry and trade, has in recent years also emerged as one of the leading startup hubs of the country, competing with the likes of Bengaluru and Delhi-NCR, it said. This year's iPitch Coalition is seeking a wider range of enterprises right from prototype stage to revenue generating enterprises that are creating innovative and scalable solutions in agriculture, climate action, healthcare, sheltertech & housing, education, financial inclusion and livelihood &skill development among other sectors.

Social entrepreneurs will have access to grants, equity and debt solutions with ticket sizes ranging from $25,000 to $1 million. The iPitch2021 Coalition comprises Blue AshvaCapital, Shell Foundation, Upaya Social Ventures, Lavni Ventures, Beyond Capital Fund, 3i Partners, Terwilliger Center for Innovation in Shelter: Habitat for Humanity, Caspian Debt, and CVRCE Technology Incubator Foundation (CVRCETIF). Additionally, Artha Impact and Villgro too will be scouting for their next investments through this pipeline.