The INVENT Program
INVENT is designed to create a platform to support inclusive innovation solutions, both technological and business process oriented, that have a positive social and economic impact on people in the lower income segments, also known as the Bottom of the Pyramid (BoP). The INVENT is basically about Inclusive Innovations and will address challenges and barriers across the inclusive innovation lifecycle, for the benefit of up to 1 million poor people at the bottom of the economic pyramid in the 8 low income states of India (UP, MP, Bihar, Chhattisgarh, Jharkhand, Rajasthan, Orissa and West Bengal).
This programme aims at supporting and capacity building of the existing incubators to identify, pilot and fund inclusive innovations (technological as well as business) for benefit of people in 8 Low Income States (LIS).
Under this programme DFID has agreed to provide up to £ 5 million in form of technical assistance for a period of 5 years w.e.f FY 2014 till 2019. The framework of the programme is primarily to lead to 50 ‘investment ready’ businesses in LIS over the period of the programme, along with other social indicators as alternate outcomes.
TDB is the co-ordinating from government of India side, while there is a lead incubator M/s Villgro Innovations Foundation managing the entire program.
Under the INVENT Programme, M/s Villgro Innovations Foundation, Chennai has been chosen as the Project Management Unit (PMU); to further identify & support four Technology Business Incubators operating in the identified state. It is aimed to support up to 160 entrepreneurs 8 LIS’s, and make at least 50 of them investable in next 5 years. The feel good is creating a viable social enterprise pipeline for impact investment in the above mentioned 8 LIS.
For more Information Visit http://villgro.org/invent/