New Delhi: Start-up incubator N/Core on Monday said it has partnered with Omidyar Network, a leading impact investment firm, to support non-profit ventures developing solutions for land and profit inclusivity in India.
As part of the initiative, five start-ups will be taken in for a six-month incubation program, which includes an innovation grant of Rs10 lakh to each selected start-up. Last date for applying for the N/Core incubation program is 10 June. The program commences in July.
“This collaboration between N/Core and Omidyar Network aspires to put the spotlight on less visible yet critical problems like land and property inclusivity. We believe that this will usher new talent and entrepreneurial solutions to this space that has immense potential to bring to millions, the dignity they deserve and a pathway out of poverty," N/Core chief executive Sudha Srinivasan said.
N/Core also announced a grant to support journalistic work and projects in the area of infrastructure, to “bring to the fore problems faced by marginalized and economically backward communities and emerging solutions in this space."
Over two-dozen successful applicants will receive the support of Rs5,000-10,000 per head and at least one will receive a grant of Rs1 lakh. Proposals are to be submitted by 15 May which will then be vetted by a jury, N/Core said.
Launched last year, N/Core works with start-ups—supporting them through mentorship and funding—that work towards poverty alleviation.
The latest program will focus on start-ups solving problems related to land and property, including solutions for land tiling, records management, land disputes and judicial bottlenecks, access to finance, affordable housing and to problems affecting women and widows and farmers.
N/Core is a unit of Bengaluru-based The/Nudge Foundation, a non-profit founded by ex-InMobi senior executive Atul Satija, and supported by a roster of partners including Tata Trusts, Social Venture Partners, Cisco, Paytm and InMobi, among others.