Bengaluru, April 5, 2024: Jubilant Bhartia Foundation (JBF) and NSRCEL have joined hands to support ventures poised to make significant strides in sectors critical to India's future.
While Jubilant Bhartia Foundation is the not-for-profit organisation of Jubilant Bhartia Group, NSRCEL is the startup incubation hub of the Indian Institute of Management Bangalore (IIMB).
Anand Sri Ganesh, CEO of NSRCEL, expressed his enthusiasm about the collaboration, stating, "We are thrilled to partner with Jubilant Bhartia Foundation in our shared commitment to nurturing entrepreneurship and fostering innovation. Through this collaboration, JBF is offering funding support to startups driving positive change in sectors ranging from biotechnology to agritech, empowering them to achieve their milestones and contribute meaningfully to societal progress."
JBF's wide-ranging efforts encompass community development, healthcare, educational activities, vocational training, women's empowerment, and the promotion of social entrepreneurship which are also aligned with the Sustainable Development Goals 2030. Leveraging this extensive expertise, the partnership with NSRCEL will extend support to 4-6 revenue-generating startups, enabling them to advance along their growth trajectory.
“At Jubilant Bhartia Foundation, we believe that innovation is the cornerstone of progress. JBF has been contributing towards social entrepreneurship through recognizing and celebrating outstanding social entrepreneurs, who are implementing innovative and sustainable solutions to address critical social challenges. Our partnership with NSRCEL at IIM Bangalore is a testament to our commitment to nurturing entrepreneurship and empowering startups to contribute towards societal impact,” Vivek Prakash, VP & Head of JBF, said.
Startups selected for support will operate in key sectors, identified for their transformative potential in Biotechnology and Lifescience, Agritech, Animal nutrition, Electric Vehicle (EV) / lithium-ion battery-related solutions.
Recognizing the substantial investment required to drive innovation in these sectors, each selected startup will receive a minimum grant of 10 lakhs, with the possibility of higher amounts based on milestones achieved. The allocation of grants will be milestone-based, ensuring optimal utilization of resources and incentivizing tangible progress.
As the collaboration between Jubilant Bhartia Foundation and NSRCEL takes shape, the stage is set for a new wave of innovation and impact in India's startup landscape. Through targeted support and strategic guidance, these ventures are poised to catalyze positive change and contribute to the nation's sustainable development goals.
Ventures like Gokrit (Agriminids Innovation Pvt Ltd), Reviva (Quretec Wellness Pvt Ltd), Unino Healthcare Pvt Ltd, Agro Rangers Trust, Sunbird (Brownreed Agri Waste Innovations Pvt Ltd) and Doctor Spectra Technology Services Pvt Ltd have been offered funding support as part of this engagement. These startups operate within the sustainability, health and wellness, health tech, circular economy, and agri-tech sectors.
With programs specifically catering to entrepreneurs with profit ventures and social ventures, also student and women entrepreneurs, NSRCEL offers its support to various players of the startup ecosystem. NSRCEL brings together startups, industry mentors, eminent academicians from its parent institution Indian Institute of Management Bangalore and researchers who thrive on continuous interaction of theory and practice.
Catering to over 1 million beneficiaries, the Jubilant Bhartia Foundation’s activities include various community development work, healthcare programs, cultural and sports events, environmental preservation initiative, vocational training, women empowerment, educational activities and promotion of social entrepreneurship.
