Bangalore, April 15, 2024: Five social enterprises have bagged a total of Rs 4.5 million funding at the recently-concluded SBI Youth for India Conclave 2024 here.
The two-day event, organized by The State Bank of India (SBI) Foundation, the corporate social responsibility (CSR) arm of the State Bank Group, showcased the culmination of efforts in rural development and the fostering of innovative solutions to address India’s pressing social challenges.
At the YFI Conclave, 'SBI YFI Sahyog - The Pitch Fest' saw nine social enterprises compete for funding, where five winners were granted a total seed funding of Rs 4.5 million. Each of the winners received Rs 9 lakh.
The winning ventures are Shahalakshya Charitable Trust, Jawhar Farms, Pirul Handicrafts, Quest and SocioDent Private Limited.
Led by Ashwini Laxman Shelke, Shahalakshya Charitable Trust focuses on empowerment through scholarships, awareness campaigns, and digital educational resources, among other initiatives; while Jawhar Farms, spearheaded by Nishant Kumar Singh, bridges urban demand for healthy food with traditional tribal resources, providing livelihood opportunities to tribal women in Jawhar, Maharashtra.
Nupur Poharkar’s initiative Pirul Handicrafts is dedicated to creating sustainable employment for local women in Uttarakhand through innovative handicrafts made from pine needles, while
Quest, founded by Shraddha Anand Gosavi, promotes responsible travel and community engagement, fostering meaningful connections and sustainable tourism practices.
SocioDent Private Limited is a startup established by Dr Steward Gracian which focuses on inclusive dental care solutions, catering primarily to the needs of the elderly and persons with disabilities.
Addressing the gathering at the Youth for India Conclave 2024, Sanjay Prakash, Managing Director & CEO of SBI Foundation, emphasized the pivotal role of the youth in driving transformative change within the country.
He said, “The future of our nation hinges upon its young, educated, and socially conscious demographic. Through initiatives like the Youth for India Fellowship, we have witnessed firsthand how our young Fellows have harnessed their potential to initiate tangible social impact projects in rural communities. Having impacted 1,50,000+ lives in 250+ villages across the length and breadth of the country, we take pride in nurturing social entrepreneurship and contributing to India's national priorities around rural development.”
He further highlighted, “The projects spearheaded by our Fellows have not only accelerated rural development but have also fostered inclusive and sustainable growth across 20 states in the remotest corners of our country.”
The event witnessed the convergence of social entrepreneurs, academia, civil society representatives, and alumni of the SBI Youth for India (YFI) Program. The initiative aims to provide seed funding to promising non- profit and for-profit ventures led by SBI YFI alumni, facilitating their continued efforts towards social impact and community development.
As many as 18 social ventures have been supported by SBI Foundation accelerating rural development and supporting India’s national priorities of rural development. SBI Youth for India programme has impacted 150,000+ lives in 250+ villages in 20 states in the country. Seventy per cent of SBI Youth for India alumni are pursuing careers in the social sector.
