TiE Hyderabad to launch $300-mn social impact fund
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Hyderabad TiE (The Indus Entrepreneurs) Hyderabad in collaboration with social impact funds, country partners, development funds, and the government intends to launch a $200 million to $300 million social impact fund. As a part of this initiative, TiE has conceptualised the maiden TSS Social Enterprise Awards, and is in the process of short listing the first set of social enterprises.
The social impact fund shall be used to help the most suitable social enterprises scale their business, enhance their products, attract skilled talent, and access new markets. The funds will be allocated based on the merit of the social enterprise business model and ability to bring the desired social change.
TiE Sustainability Summit (TSS) will be held on October 4-6, 2021 through a virtual platform and it will be attended by 25,000 social enterprises from 50 countries. The event will be hosted by TiE-Hyderabad and brought forth by TiE Global, a non-profit organisation for entrepreneurs in all industries. There are currently 15,000 members in 61 chapters across 14 countries.
Praveen Tailam, Chairman of the TiE Global Board of Trustees said, "Social enterprises have emerged as the agents of change, and are addressing the most critical issues faced by the world – whether it is climate change or social issues, they have been solving them tirelessly through innovative technologies and processes."
The awards will recognise social enterprises who are creating a deep and tangible impact on society, communities, animals, nature and planet through innovative business processes and technologies while pursuing the sustainable development goals (SDGs) defined by United Nations including affordable energy, agriculture, clean water and sanitation among others.
The awards are also aimed at supporting the social enterprises through our mentoring ecosystem, helping them gain access to impact investors, mentors, and global markets. The winners will qualify to access the TiE Global network comprising of social impact investors, mentors, advisors, strategic guidance to accelerate their growth.
