Dehli, India, May 04, 2013 –(PR.com)– Impact investment portal, the Artha Platform has launched the Artha Venture Challenge (AVC), a national competition to identify the most ambitious earlystage social entrepreneurs in India and provide them access to finance, business support and powerful connections to assist in scaling their enterprises.
To ensure that good ideas do not stay small it is essential that high-impact social ventures are able to access funding to navigate the early growth stages and reach scale.
The Artha Venture Challenge is a pioneering initiative designed to address this well acknowledged problem – the missing middle in social finance where there is a lack of high risk, patient capital for early stage social ventures in the INR 25 lakh to 100 lakh range.
The Artha Venture Challenge is now inviting applications from social ventures across India that are operating in the sectors of Agriculture, Energy, Water, Livelihoods and others, have completed proof of concept and are seeking growth investment.
Ennovent – an organization that accelerates innovations for sustainability in low income markets – will be managing the Artha Venture Challenge on behalf of the Artha Platform.
Each of the (up to) 15 winning enterprises will get the opportunity to pitch for up to INR 25 lakh (USD 50K) of funding, if matched by the equivalent or more in co-investment.
In addition, the Artha Platform will also work with the winning cohort to build a compelling growth story by providing access to expert mentors, facilitating exposure to a closed network of impact investors, offering investment readiness support and profiling the winning ventures as one of the most high-potential social entrepreneurs in India.
Aside from providing capital to social entrepreneurs with merit, the challenge will also strengthen seed investment in social ventures in India, help investors to de-risk through syndication and strategically deploy resources, partnerships and co-investment where it matters the most.
The Artha Venture Challenge is funded by the Artha Platform whose core funder/founder is the team at Rianta Philanthropy Ltd. Inspired by the UK Big Venture Challenge run by UnLtd where 10 early stage co-investment deals were closed within 10 months attracting over GBP 1m in co-investment, the Artha Venture Challenge aims to similarly stimulate the early growth stage social investment market in India.
Entrepreneurs that meet the eligibility criteria for the Artha Venture Challenge are invited to apply by visiting www.arthaventurechallenge.com
Applications close on 17th June 2013.
About Artha:
The Artha Platform is an online community and website dedicated to building relationships between impact investors and donors, and social entrepreneurs and capacity building support organizations working on or in India. The Artha Platform has been created to support ambitious Indian social entrepreneurs raise investment, get past the pain of due diligence and scale their ventures. The Artha Platform is an independent initiative supported by Rianta Philanthropy Ltd.
About Ennovent:
Ennovent accelerates innovations for sustainability in low-income markets. Our complimentary set of services enables clients to discover enterprises with novel solutions, develop business models to startup enterprises, provide finance and grow operations to scale profit and impact. Since 2008 Ennovent has worked with over 4,500 Network members, 15 Circle members and 20 Solution clients to accelerate over 70 innovations. We envision a sustainable future for low-income people in developing countries.
Media Contact:
Perzen Patel
Communications Manager, Ennovent
Email: perzen.patel@ennovent.com