irst-of-its-kind incubator exclusively for non-profit organizations to help create a pool of high-performing organizations that can create large-scale social impact
23 May 2016: NSRCEL at the Indian Institute of Management Bangalore (IIMB) will be setting up a start-up incubator exclusively to nurture early stage non-profit organizations. Housed inside IIMB’s NSRCEL, this non-profit incubator will select and nurture at least five early-stage organizations over the next two years, helping them become world-class non-profits that deliver impact and become magnets for talent and funding. IIMB has partnered with the Michael & Susan Dell Foundation to help launch the incubator, and the foundation will be providing IIMB a grant to support this initiative.
This initiative aspires to create a proven template for non-profit incubation centres in Bangalore, India, developing a playbook for nurturing and scaling early stage organizations. Such an approach can be replicated at other academic institutions and incubation hubs across the country. IIMB and NSRCEL are pioneers in incubating for-profit companies and today we see a widespread proliferation of start-up incubators across the country, and this initiative aims to help spur a similar revolution in the Indian non-profit sector.
Similar to the highly successful model developed by IIMB to support for-profit start-ups, the institute would be inviting applications from non-profit entrepreneurs. The selection process will be anchored by an independent advisory group, following which, IIMB will provide the selected organizations with tenancy and co-working space within its campus for a period of two years. The selected non-profits will also be provided with a robust set of wrap-around services including mentoring support, consulting services and training programs – key ingredients in enabling them to become high-performing organizations.
Professor Suresh Bhagavatula, Chairperson, Entrepreneurial Ecosystem Development at NSRCEL, IIMB, who will be spearheading the initiative, said: “We at IIMB have rich experience in successfully incubating for-profit companies and we see a vibrant support ecosystem supporting such start-ups. However, not much work has been done on non-profit social ventures. This initiative, with support from Michael & Susan Dell Foundation, is one of the early attempts to do so. This ties very well with our vision, which is to develop leaders and entrepreneurs creating meaningful social change. The initiative will also play a critical role exposing students at IIMB to the non-profit sector.”
Debasish Mitter, Country Director, India, Michael & Susan Dell Foundation, said: “We believe India needs more start-ups and we want to play an active role in making that happen. We continue to invest heavily in incubating for-profit social start-ups through early stage funds, but we have found that India lacks similar non-profit incubators. We realized there was a strong mutual fit with IIMB in terms of our mission and values.”
About IIMB & NSRCEL
The Indian Institute of Management Bangalore (IIMB) builds leaders and entrepreneurs through holistic, transformative and innovative education. An EQUIS accredited business school, IIMB is an acknowledged hub of academic activity in India and across the globe. IIMB’s research centers include the Centre for Public Policy, the NSRCEL, the Centre for Financial Markets & Risk Management, the Centre for Corporate Governance & Citizenship, the Centre for Software & Information Technology Management, the Centre for Enterprise Resource Planning and the Centre for Supply Chain Management. The NSRCEL incubates start-ups and provides free mentoring for budding entrepreneurs. NSRCEL currently incubates 18 start-ups – perhaps the largest number for an incubation center in an academic institution. Through its rapidly growing open mentoring initiatives, it is conservatively estimated that NSRCEL may have directly impacted in excess of 10,000 entrepreneurs, aspiring entrepreneurs or other participants in the ecosystem since it was established in 2000.
About Michael & Susan Dell Foundation
Founded in 1999, the central mission of the US-based Michael & Susan Dell Foundation is transforming the lives of children living in urban poverty through better education, family economic stability and health. Since 2006, the Michael & Susan Dell Foundation has invested more than INR 983 crores in non-profits and social enterprises in India. Follow at Twitter @msdf_india.
irst-of-its-kind incubator exclusively for non-profit organizations to help create a pool of high-performing organizations that can create large-scale social impact
23 May 2016: NSRCEL at the Indian Institute of Management Bangalore (IIMB) will be setting up a start-up incubator exclusively to nurture early stage non-profit organizations. Housed inside IIMB’s NSRCEL, this non-profit incubator will select and nurture at least five early-stage organizations over the next two years, helping them become world-class non-profits that deliver impact and become magnets for talent and funding. IIMB has partnered with the Michael & Susan Dell Foundation to help launch the incubator, and the foundation will be providing IIMB a grant to support this initiative.
This initiative aspires to create a proven template for non-profit incubation centres in Bangalore, India, developing a playbook for nurturing and scaling early stage organizations. Such an approach can be replicated at other academic institutions and incubation hubs across the country. IIMB and NSRCEL are pioneers in incubating for-profit companies and today we see a widespread proliferation of start-up incubators across the country, and this initiative aims to help spur a similar revolution in the Indian non-profit sector.
Similar to the highly successful model developed by IIMB to support for-profit start-ups, the institute would be inviting applications from non-profit entrepreneurs. The selection process will be anchored by an independent advisory group, following which, IIMB will provide the selected organizations with tenancy and co-working space within its campus for a period of two years. The selected non-profits will also be provided with a robust set of wrap-around services including mentoring support, consulting services and training programs – key ingredients in enabling them to become high-performing organizations.
Professor Suresh Bhagavatula, Chairperson, Entrepreneurial Ecosystem Development at NSRCEL, IIMB, who will be spearheading the initiative, said: “We at IIMB have rich experience in successfully incubating for-profit companies and we see a vibrant support ecosystem supporting such start-ups. However, not much work has been done on non-profit social ventures. This initiative, with support from Michael & Susan Dell Foundation, is one of the early attempts to do so. This ties very well with our vision, which is to develop leaders and entrepreneurs creating meaningful social change. The initiative will also play a critical role exposing students at IIMB to the non-profit sector.”
Debasish Mitter, Country Director, India, Michael & Susan Dell Foundation, said: “We believe India needs more start-ups and we want to play an active role in making that happen. We continue to invest heavily in incubating for-profit social start-ups through early stage funds, but we have found that India lacks similar non-profit incubators. We realized there was a strong mutual fit with IIMB in terms of our mission and values.”
About IIMB & NSRCEL
The Indian Institute of Management Bangalore (IIMB) builds leaders and entrepreneurs through holistic, transformative and innovative education. An EQUIS accredited business school, IIMB is an acknowledged hub of academic activity in India and across the globe. IIMB’s research centers include the Centre for Public Policy, the NSRCEL, the Centre for Financial Markets & Risk Management, the Centre for Corporate Governance & Citizenship, the Centre for Software & Information Technology Management, the Centre for Enterprise Resource Planning and the Centre for Supply Chain Management. The NSRCEL incubates start-ups and provides free mentoring for budding entrepreneurs. NSRCEL currently incubates 18 start-ups – perhaps the largest number for an incubation center in an academic institution. Through its rapidly growing open mentoring initiatives, it is conservatively estimated that NSRCEL may have directly impacted in excess of 10,000 entrepreneurs, aspiring entrepreneurs or other participants in the ecosystem since it was established in 2000.
About Michael & Susan Dell Foundation
Founded in 1999, the central mission of the US-based Michael & Susan Dell Foundation is transforming the lives of children living in urban poverty through better education, family economic stability and health. Since 2006, the Michael & Susan Dell Foundation has invested more than INR 983 crores in non-profits and social enterprises in India. Follow at Twitter @msdf_india.