The Sankalp Forum-Samridhi initiative has been established in collaboration with the Sankalp Forum which is India's largest impact investing platform [www.sankalpforum.com] promoted by Intellecap; the Department for International Development (DFID, UK); and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH under the framework of Indo-German Cooperation funded by the German Ministry of Economic Cooperation and Development (BMZ). Recognizing the immense potential that the eight Low Income States holds for the growth of social enterprises, the forum aims to unlock the potential at the “Bottom of the Pyramid” by supporting high impact small and growing businesses in the region.
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DFID India, GIZ and Sankalp Forum Collaborate to Support Social Enterprises, Impact Investments in India’s Low-Income States
October 16, 2012 (ended)
The Sankalp Forum-Samridhi Social Enterprise Recognition is currently inviting nominations from businesses in sectors like clean energy, agriculture and food, and provision of basic services. The initiative has announced a cash grant of INR 5 Lacs to an enterprise that showcases social impact alongside a strong business and an additional cash grant of INR 2 Lacs to an enterprise that produces maximum positive impact for women. The enterprises will be recognized at a Regional Summit scheduled for October 2012 in Patna, Bihar.
Since 2009, the annually held Sankalp Forum has created a community of over 10,000 stakeholders comprising social entrepreneurs, impact investors, corporations, academics and policymakers to catalyze the flow of capital to sustainable and scalable enterprises in India. With the Sankalp Forum-Samridhi Social Enterprise Regional Summit, the forum will bring together active stakeholders to deliberate on and promote a more inclusive ecosystem for social enterprises in the underserved regions. Participating enterprises will have the opportunity to get capacity-building inputs, strategic advice and mentoring from industry experts as well as get exclusive access to key impact investors.
The initiative is supported by DFID through its Samridhi Fund/ Poorest States Inclusive Growth Programme (PSIG) that aims to improve income, and reduce vulnerability, of poor people and small producers in the eight states, by expanding their access to finance and markets. Meenakshi Nath, Deputy Head DFID India said, “The eight low income states face a shortage of infrastructure and their economies have yet to generate sufficient jobs to lift millions out of poverty. Investment in social impact enterprises supports inclusive growth and benefits the poor as consumers, producers or workers to deliver jobs, basic services and infrastructure. We are delighted that Sankalp Forum-Samridhi Initiative will support and encourage those businesses that help the poor people of society.”
The initiative is also supported by GIZ (alongside DFID) with the purpose of strengthening the eco-system and support services for small businesses that want to create social impact in areas away from the metros like Delhi and Mumbai. Through its support, GIZ would like to strengthen long-term systematic interventions through partnerships with key stakeholders to source, identify, recognize, capacity-build and help scale, and promising for-profit social enterprises.
“India needs innovators who address some of the most pressing social and environmental challenges in the country. GIZ together with Small Industries Development Bank (SIDBI) and other partners works towards strengthening the support infrastructure for these small businesses through improving access to capital and incubation services. It is important to move in India’s regions and deepen the efforts to strengthen the business environment,” states Manfred Haebig, Head of the Private Sector Programme. One of the intended outcomes for GIZ in this partnership is to support SIDBI Venture Capital Limited, one of SIDBI’s subsidiaries, in sourcing a pipeline of investable social enterprises.
The nominations for Sankalp Forum-Samridhi Social Enterprise Recognition are currently open for businesses operating in the 8 low income states. To apply or for more information, please write to email@example.com.
Ms. Aparajita Agrawal
T: +91-98704 96991