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Hyd gets unique model for social startups

Hyd gets unique model for social startups
Highlights

Four organisations here on Friday have announced a collaboration for developing a social entrepreneurship eco system in Telangana.

Hyderabad: Four organisations here on Friday have announced a collaboration for developing a social entrepreneurship eco system in Telangana.

Action For India (AFI), an organisation that helps social enterprises with access to technology, investors and government agencies, International Institute of Information Technology, Hyderabad (IIIT-H), Indian Institute of Technology, Hyderabad (IIT-H), and T-Hub, a state government initiative for startups, are the four organisations.

The collaboration was formalised with a memorandum of understanding (MoU) during the annual Action For India Forum 2019 at the Indian School of Business (ISB) here.

Under the MoU, the four organisations would pool in their experience and resources to create an ecosystem to support tech-enabled, social impact startups, countrywide, the organisation said.

The not-for-profit collaboration aims at delivering strategic scaling support to 5,000 social impact startups over five years, it added.

T-Hub said, the alliance is designed to address the critical challenges faced by social entrepreneurs with a special focus on business model, market discovery etc.

The partnership also aims to put Telangana as the top State in the country supporting the startups and would make efforts to ensure that the State demonstrates a unique model for nurturing social enterprises for fostering inclusive and equitable growth, it added.

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