Tata launches 'Social Enterprise Challenge'

Last Updated: Thu, Dec 27, 2012 12:00 hrs

Mumbai, Dec 27 (IANS) Aiming to find the country's most promising social enterprises, the Tata Group has launched the 'Tata Social Enterprise Challenge' in association with the Indian Institute of Management Calcutta (IIMC), a company statement said here Thursday.

Teams, which either have an early stage venture (not older than three years) or a promising idea with a plan that can create sustainable social impact, can submit their business plans online by logging onto www.tatasechallenge.org.

The applicants may or may not be Indian nationals; however, the social venture should be aimed at creating social impact in India. The ventures will be judged on three parameters - Business Model, Social Impact and Sustainability.

"In line with the Group's ethos of commitment to society, the 'Tata Social Enterprise Challenge' is a new initiative, to recognise promising ventures in the field of social entrepreneurship and provide them with a platform that offers them an opportunity to grow," said Atul Agrawal, vice president, Corporate Affairs of Tata Services.

Detailed Business Plans have been invited in the areas of education, health, agriculture, energy, technology, housing, handicrafts and microfinance, among others.

The last day to submit the Impact Proposal online is Jan 20, 2013. The challenge also invites people to nominate, through the initiative's website, social enterprises they know.

Speaking about the initiative, Prof Ashok Banerjee, Dean (New Initiatives and External Relations), IIMC said that responding to societal needs is one of the core institutional values of IIM Calcutta.

"The institute expects this initiative to serve as an opportunity for young entrepreneurs to engage themselves in socially-relevant initiatives and also familiarise themselves with the work that various organisations are doing in the social sector in a sustainable manner," he said.

The challenge will culminate in February 2013 with a summit on social entrepreneurship at IIM Calcutta, where the winners will be felicitated.

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