ISB announces iDiya - the National Social Venture Competition

India Infoline News Service | Mumbai |

ISB has announced the launch of the fifth edition of iDiya- India’s biggest social venture competition for working professionals in the country

The Indian School of Business (ISB) has announced the launch of the fifth edition of iDiya – India’s biggest social venture competition for working professionals in the country. It is also open to social enterprises that have been in existence not more than three years. It is an opportunity for those who are passionate about towards building innovative, self-sustaining and commercially viable social ventures in the areas of health, education, environment and women’s empowerment. This year the event was inaugurated by MN Rao, the former MD and CEO of Tata Business Services Ltd at the ISB campus.

Winning Ideas

Started in 2009, ISBiDiya has been successful in attracting participation from around 500 teams across the country, over the last 5 years. Here are some of the successful past year winners 
  • Kisan School, a farm knowledge management venture that enables farmers to share knowledge, new inventions and resources using SMS, IVR and internet.The project has been incubated by NABARD and will be rolled out in the next few months.
  •  "ISB made me proud. It was only after iDiya that I was able to raise Rs 10 crore in funding from one of the government organizations,” said TJ David, the man behind a Low Cost Solar Powered Crop Harvester and Lockheed Martin award winner, whose innovation has been tested and validated by ICRISAT and ANGRAU, Hyderabad.
  • Milaap Social Ventures has recently raised $ 1.1 Million in funding from Jungle Ventures. It has created a social fund-raising platform that enables donors from across the world to loan money to borrowers in small villages in India for purposes such as starting a business, paying for education etc.
  • Source Pilani, now acquired, has successfully setup a village based BPO that leveraged on the low cost infrastructure and resources available in villages, to deliver world class BPO services.
This year, ISBiDiya will support both winners as well as selected participants  
  • Top 10 winners will get the opportunity to interact with Impact Investors who could provide seed funding
  • Top 10 shortlisted teams ( the number is right ) will be invited to the ISB for the Bootcamp – a one-week long training programme, where they will receive valuable mentoring support and critical evaluation of various aspects of their venture – business model, operations management, financing etc. and network with VCs and experts in the social venture space in India.
  • Additionally, the top 50 teams would receive detailed feedback on how they can improve the feasibility and financial sustainability of their social ventures.
Participation for the 5th ISBiDiya is now open. Interested professionals can submit their ideas online at www.isb.edu/idiya. The last date for submitting the applications is September 15th, 2013.

iDiya’s past partners include renowned companies such as Acumen Fund, Intellecap, Unitus Capital, Grey Matters Capital, Mumbai Angels, India Quotient, Seedfund, Canaan Partners, Dasra, Unltd India, GVFL, Venture East, Bharti Foundation, Edelgive Foundation and Caspian Advisors. ISBiDiya is a student driven initiative to promote, recognize and support some of the most innovative ideas in the social venture space in India.

 

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