New Delhi: The Nand & Jeet Khemka Foundation and The Schwab Foundation for Social Entrepreneurship in collaboration with The United Nations Development Program (UNDP) has announced the opening of nominations for India’s Social Entrepreneur of the Year Award 2008.

The awards recognize the power of social entrepreneurs, who use innovative solutions to address challenges that societies face. The final date for close of applications is 5June, 2008.

Three to five finalists will be short listed following an intensive search and selection process including expert reviews and site visits. They will be invited to the India Economic Summit in November 2008 in New Delhi and later to the World Economic Forum Annual Meeting at Davos.

In addition the winner will be eligible to be named a ‘Khemka Fellow’ and receive a financial award of Rs8, 00,000.

Harish Hande, managing director and co-founder, Selco-India was recipient of the award in 2007. He pioneered access to rural solar electrification for below poverty line families through a combination of customized home lighting systems, innovative doorstep financing, and an understanding of market needs of different users.

Parag Gupta, head, South Asia, Schwab Foundation said, “Social entrepreneurs combine innovation, measured social impact, and sustainability. In our worldwide network, we find India has many world class social entrepreneurs that can spark global solutions to longstanding social and environmental problems. We are dedicated to giving them the platform to do so.”

The application form and selection criteria will be available at http://www.schwabfound.org/india