Indian Angel Network launches incubation program
The Indian Angel Network (IAN) has launched an incubation program in association with German developmental aid agency GIZ and the Small Industries Development Bank of India (SIDBI).
According to a release, the incubator will assist entrepreneurs in building sustainable and scalable businesses in the social impact space. The partnership will allow GIZ and SIDBI to leverage IAN's pool of 300 mentors and investors. The aim is to incubate over 100 social enterprises.
"Often we see passionate impact-inclined entrepreneurs create local centres of excellence, but they do not have the experience and vision to scale those ventures nationally," said Mohit Goyal, co-founder of IAN. "IAN's intention is to create a significant difference in creating social impact by helping and guiding passionate entrepreneurs scale up their ventures so that the good work done in pockets is extended over a larger population and geography."
The IAN-GIZ-SIDBI Incubation Program for Social Enterprises is open to all social impact start-ups based in India. Successful applicants will be assigned mentors from the IAN pool and incubation periods will last 6-9 months.
Launched in April 2006, IAN claims to be India's first and Asia's largest angel network and has mentored start-ups across several geographies including India, Sri Lanka, UK, US, Canada, France and Hong Kong. In the last two years IAN says it has invested around a $1 million a month in almost 30 companies.
More on South Asia
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.