IIM Bangalore launches incubation program for social ventures

NetIndian News Network

Bengaluru, January 13, 2017

The NS Raghavan Centre for Entrepreneurial Learning (NSRCEL) at IIM Bangalore (IIMB) has launched an incubation program for organisations engaged in solving problems affecting urban India in areas such as education, livelihood, health and financial inclusion.
The program, ‘NSRCEL Social’, aims to leverage the Centre’s experience to build successful not-for-profit social impact ventures, a press release from IIMB said.
It has invited applications for the first batch of change makers from registered not-for-profit organisations, which are between one and three years old.
The application process is open till January 31. Details can be seen here.
’NSRCEL Social’, in collaboration with Michael and Susan Dell Foundation (MSDF), involves high profile mentors from diverse fields (angel investors, software professionals, chartered accountants, NGO founders, and so on.). Its advisory committee comprises established non-profit and business leaders from areas such as investment banking, IT, advertising and social sectors and IIMB faculty.
The program aims to address the lack of an effective support system for early-stage non-profit organisations in areas of funding, legal advisory services and operations. It will nurture select early-stage organisations over the next two years, helping them become world-class non-profits that deliver impact with the help of a growing pool of philanthropic and CSR funds invested in them.
NSRCEL has been the hub of entrepreneurial activity at IIM Bangalore since 2002. It has been incubating, supporting and seeding commercial ventures in collaboration with IIM faculty, the student and alumni community, and the larger venture ecosystem outside. The centre has touched the lives of more tan 15000 entrepreneurs over the years, actively incubating 67 ventures that have created over 4500 jobs and cumulatively stand at a billion dollar valuation in 2016.