The program is aiming to incubate and support 'for profit' social ventures and comprises start-ups that have been in operation for one to three years.
Mphasis, an IT services and solutions provider specializing in cloud and cognitive services, has partnered with the Indian Institute of Management (IIM) Bangalore's incubation centre NSRCEL to support early-stage social ventures. The initiative is the part of IIM Bangalore's Social Incubation Programme.
The program is aiming to incubate and support 'for profit' social ventures and comprises start-ups that have been in operation for one to three years. The main focus of the program is on helping start-ups build financially sustainable and scalable models working in the education, livelihood and disability space.
Srikanth Karra, Chief Human Resources Officer, Mphasis, said, "It is essential that social enterprises also get the right kind of support in mainstream incubators to ensure they can make telling contributions within the industry space. Our partnership with IIMB is aimed at addressing this issue and through the facilities and mentorship support, we hope to enable the selected social ventures to achieve their highest potential."
Suresh Bhagavatula, Chair, NSRCEL of IIM Bangalore, said, "NSRCEL has been helping early stage ventures since 2002. Leveraging this experience and expertise, the Social Venture Incubation Program was launched in 2017. NSRCEL Social Ventures is the first-of-its-kind incubator of the country with an ascertained focus is to create a playbook and template for social enterprises incubation."