Bala Vikasa Signs MoU With TSIC To Incubate Social Startups
Bala Vikasa International Center (BVIC) on November 3, 2021 signed a Memorandum of Understanding with the Telangana State Innovation Cell (TSIC) to establish an Incubation Process as a part of TSIC’s Impact Lab process in the presence of Jayesh Ranjan, Principal Secretary, Industries and Commerce, and Information and Technology.
The partnership aligns with BVIC’s and TSIC’s goal to incubate Social Startups and strengthen the Social Entrepreneurship ecosystem. As an Incubation Partner, BVIC will strategize, streamline and execute the co-development of Social Startups and NGOs along with TSIC. It will particularly facilitate the Proof of Concept (PoC) development process for select startups of the Agriculture, Livelihoods, Skill Development, Digital Literacy and Connectivity and Health sectors. BVIC will also provide a co-working space, mentorship and capacity-building sessions to bridge the knowledge gaps of the select startups. Shoury Reddy Singareddy, Executive Director, Bala Vikasa and Dr Shanta Thoutam from TSIC signed the MoU representing their respective organisations.
Speaking on the occasion, Shoury Reddy Singareddy, Executive Director, Bala Vikasa said “We believe Social Entrepreneurship is an effective way to address community problems and accelerate community development. We are extremely honoured to have partnered with TSIC in providing hand holding support to potential startups.” He further expressed his gratitude to TSIC and the Government of Telangana for their constant support and faith in Bala Vikasa in helping communities. Shoury Reddy also stated that Bala Vikasa will continue to work towards Community Development evolving with the changes happening around the world and design programs that will help communities help themselves.
The Impact Labs has received 56 applications from Entrepreneurs across Telangana. BVIC along with TSIC is screening applications to take the program forward and implement it.
Bala Vikasa will also support TSIC as an NGO partner along with Green Peace, Youngistaan, Save the Children, Action Aid, Helpage, Plan India, Akshaya Patra, and World Vision India. As an NGO partner, Bala Vikasa will support select Startups in connecting with the communities at grassroots levels to provide solutions with regard to weeding, pest control, preparation of organic fertilizers and providing market linkages to organic farmers.