Indian social ventures that will each receive $50K in funding as part of the Artha Venture Challenge 2013 | Source/complete article: TechCircle India, Apr 11, 2014 |
Exceprts: Artha Venture Challenge (AVC), a national competition designed to identify, select and provide the best socially focused ventures access to mentoring, connections and funding has announced the names of its nine winners for AVC 2013. All of them will receive up to $50,000 (Rs 30 lakh) in funding from the Artha Platform subject to due diligence and investment approval.
AVC is funded by the Artha Platform and its founding organisation Rianta Philanthropy Ltd. The Artha Platform is a members-only online community and network dedicated to building stronger relationships between impact investors/donors, social entrepreneurs and the core capacity building support organisations working on or in India.
In its inaugural edition, AVC 2013 claims to have received applications from 116 enterprises across India. The cohort of 15 finalists, which was announced in September 2013 then received support to build a growth story by securing access to expert mentors, connections to a closed network of impact investors and media exposure.
Of these finalists, nine enterprises successfully leveraged the capacity building support provided over the last eight months to raise various rounds of funding in the forms of grant, equity and debt. These include Aakar Innovations, Avani BioEnergy, Banka Bioloo, Boond, Edubridge, Knids Green, Sevamob, Tamul Plates and Villgro Innovation Marketing.
Here is a quick look at the two sanitation winners:
Aakar Innovations Pvt Ltd: Over 300 million women in India do not use sanitary pads. Aakar is addressing this social issue by providing rural women and adolescent girls with high quality, biodegradable sanitary pads, produced using indigenously available raw materials, at an affordable cost. Aakar supports the demand by increasing community awareness on menstrual hygiene, and creates supply by manufacturing and selling machines (to produce the pads), and managing the raw material supply chain.
Banka BioLoo: A human waste management company that provides sustainable solutions for sanitation and waste water for rural and urban areas. Lack of adequate sanitation solutions in India leads to water and environment pollution causing major health issues, more so among children and women. The company offers complete sanitation solutions from installation of toilets to waste treatment and management. It uses robust bio-technology for the treatment of human waste at source and different structures for the toilet unit.