25 social impactpreneurs to get seed funding from IIM Vizag as a part of its new FIELD program

Expanding its network to support more and more start-ups, the Indian Institute of Management (IIM) Vizag under its wing Foundation for Incubation Entrepreneurial Learning and Development (FIELD) has announced a new ‘Social Impactpreneurs Program’, for entrepreneurs who set out to solve social problems in the gap areas as identified by the NITI Aayog, Government of India, thereby creating a positive impact on the society.

Best known for its incubation centre with several programs for different kinds of start-ups IIMV recently bid adieu to the women cohort of 2020-22.

With the ultimate goal of making end products ready for commercialisation, this new program called the Social Impactpreneurs Program will be funded by the CSR Initiatives of MTAR Technologies Ltd, Hyderabad.

Offering four rigorous phases to fine-tune an idea, the 15-month-long program will support up to 100 entrepreneurs in multiple phases and also provide one year of incubation support for 25 promising start-ups at the IIM Vizag FIELD campus.

In the first phase of the Social Impactpreneurs Program called the Outreach & Applications, eligible start-ups will be required to submit their applications, following which in the second phase called the ideation boot camp, up to 100 applications will get shortlisted and a month-long ideation boot camp will be conducted online, covering various essential knowledge areas of entrepreneurship. At the end of which, applicants will have to submit their business plan.

In the third phase called the pre-incubation boot camp, 50 shortlisted start-ups will undergo a two-month long pre-incubation boot camp in which they will receive inputs from industry professionals and help in developing their idea into a sustainable business plan. In the last and final phase, called the Incubation Support at IIMV FIELD, 25 start-ups will become a part of the 12-months long incubation program at IIMV FIELD (online and offline). Start-ups will also be provided prototyping and seed support depending on their progress.

For all those who have a socially responsible business idea, head on to the IIMV website and check if your business idea is eligible. Send in your application before 31 August 2022 and develop your idea into a sustainable business with the help of IIMV FIELD.

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