As we move towards the future, innovative products and services are becoming an inevitable part of our daily lives. While futuristic ideas are driving the world, a nation always needs leaders and agencies who are invested in discovery and defense of the “new”. New talents, new ideas, and new creations need entities that support their promising ambition and pursuit towards excellence.
Entrepreneurs in a lot of ways are the spear headers of modern India but converting their vision into reality becomes a challenge when they lack resources, networks, or skills to research and develop their products or services. A vibrant entrepreneurial ecosystem needs strong capital inflows to transform their blueprints and beta tests into successful enterprises, and this is where corporates can step-in and make a difference.
Global brands are increasingly routing for technological developments, as they are powerful tools to facilitate the socio-economic progress of a society. Many companies have shown interest in using their CSR funds in start-up incubators associated with academic institutions to nurture young entrepreneurs and their endeavors.
However, a lot of resourceful corporates are unaware of this noble pursuit that can create a measurable impact in the world around them.
India recognises several activities as Corporate Social Responsibilities under Schedule VII of the Companies Act, 2013. One among those activities is funding technology incubators that help start-ups survive in their very early phases and provide them with all the safety nets their nascent stage needs.
Incubators are rather investable, scalable, and growth-oriented social enterprises that can play a vital role in India’s vibrant economic environment.
Beyond competitive advantage and improved efficiency, SINE focuses on resolving every challenge that comes in the way of a smooth CSR activity that supports every futuristic idea and innovation. Apart from being hosted by IIT Bombay’s prestigious and promising faculties, this startup incubator aims at fostering teams that lead their pet projects into Unicorn brands that are trusted by users worldwide.
Activities that promote bold ideas and smart entrepreneurship through CSR, are divided in four diverse sets.
- De-risking support: Helping startups in protecting intellectual properties, providing grants for education, innovation, and research, offering seed funds, and receiving grants for prototypes.
- Soft-skills and Mentoring: Leading market research, conducting lecture series, sourcing expert advice, and offering training and mentorship support.
- Partnership programmes: Collaborating with joint incubation ventures, conducting bootcamps, and leading accelerator programs.
- Infrastructure and Facilities: Refurbishing additional infrastructure, offering shared facilities and sponsoring lab equipment.
- Corpus: Offering long-term corpus and interest to support their operations.
This blog is rather a acknowledge to all the organisations who have pioneered every stride towards excellence at SINE.
With these 15 ventures, we could support over 30+ startups to build the enterprise of their dreams.
Our innovators and entrepreneurs shall always be indebted to their generous contributions as they enter the next stage of their ventures with SINE.
While their projects prosper, our team’s key mission is to conduct seamless CSR incubation projects that deliver excellence and promising results with every collaboration.
Is the incubation of the emerging business part of the economic responsibility under the CSR?