Indian Institute of Management (IIM), Bangalore, has joined hands with Mphasis, an IT service provider, to support early-stage ventures.
The aim is to help start-ups, which have been in operation for one to three years, build financially sustainable and scalable models working in education, livelihood and disability space.
Srikanth Karra, Chief Human Resources Officer, Mphasis, said “This is our bit to help the others grow. Our partnership with IIMB aims at addressing this issue and through the facilities and mentorship support, we hope to enable the selected social ventures to achieve their highest potential.”
The programme received more than 550 applications from various social ventures, of which 16 were shortlisted to go through a three-month pre-incubation programme.
The companies were further shortlisted and given an opportunity to pitch before an advisory council for selection in the incubation programme that will run for 12-18 months.
Finally, five companies bagged an entrepreneurial grant. The selected ventures are TAXSHE Services Private Limited, ECONUT Coconut Producer Company Limited, Blink Research and Services Private Limited, ThinkZone and Rural Caravan Private Limited.
IIMB and Mphasis will jointly hold a series of curated events and workshops to address specific challenges. These ventures will also be able to avail on-site infrastructure as well as expand their network through interactions with ecosystem partners, IIMB faculty, alumni and subject matter experts.