UnLtdIndia – Launchpad For Social Entrepreneurs

0
140
UnLtdIndia

unltdindiaWe all have been there. A stinking dustbin, roads full of potholes and not enough time to complain about our beloved country. And its also very true that everyone wants to do their best to make India a better place to live in. So, you are working full time and have an awesome idea to eliminate one of the crucial areas like eliminating child labor or increasing kid literacy rates. Although you cannot quit your job at the moment, wouldn’t it be nice to give your idea a try before shutting it down? Or before you watch someone else do it successfully? What if you do not have the funds to try out the idea? These situations are as common  for an aspiring social entrepreneur as no water in summer.  Thankfully, we have an organization – UnLtdIndia which aims to encourage such entrepreneurs.

How do I qualify to be an investee?

Applicants could be working part time on their idea/project. Applicants need not have registered organizations.

Basic Eligibility Criteria :

  • Applicants must be over the age of 16
  • Applicants must be Indian residents (based in Mumbai, Thane, Pune , Solapur , Raigarh, Satara or Ahmadnagar )
  • Applicants must have the passion and drive to make a positive change
  • Applicants must have an idea or an existing organization. The organization should not be legally registered for more than four years

There are 2 levels of investee options. For Level 1, it is enough that to show a basic evidence of need and demand for the idea and no or little (a) operational activities (b) proven theory of change and/or (c) social impact. For Level 2, it is required to provide operational evidence of need and demand, theory of change and social impact.

You can check if you are eligible here.

What do I get if I become an investee?

If the investee gets selected, they will be enrolled in an year long package that provides seed funding,Hands-on coaching and training and high-value connections.

Let’s take a look a the 3 levels of support:

  • Level 1 support is designed for you to start or pilot a new initiative, usually part-time over and above your day job: this encompasses up to Rs 80,000 of seed funding, along with an average of 160 hours of hands-on support over the course of a year.
  • Level 2 support is designed to propel your existing high-potential early-stage project towards greater impact and sustainability: this encompasses up to Rs 2 Lakhs of further funding, along with an average of 220 hours of hands-on support over a year.
  • Level 3 support is designed to provide your social business the loan capital it needs to grow. Up to Rs 20 Lakhs of loan financing is available, repayable over three years, along with a customised support package over the period of the loan. Our Level 3 Social Business Fund is a joint initiative between UnLtd India and the Edmond de Rothschild Foundations.

How else can I help?

UnLtdIndia is based in Mumbai and it appears that you need to be based out of Mumbai, Thane, Pune, Solapur, Raigarh, Satara or Ahmadnagar. So, what  if the rest of the India wants UnLtdIndia help? Thankfully, they have Affiliate Programme to help entrepreneurs start UnLtdIndia processes in their area. From the website, we see that UnLtdIndia already has affiliates in Tamilnadu and Hyderabad.

UnLtdIndia also offers excellent chance to intern at their investees.  This helps budding entrepreneurs to understand how things work. Last but not the least, donation to the noble causes is always an option.

What do we think of UnLtdIndia?

Awesome is one word that can describe such initiatives. Everyone who wants to be a social entrepreneur must check out this site. Whether you need any investment or not, the investee profiles are a big boost to the morale. We need more of such organizations across the country so that people can work on their social-good ideas while maintaining their day jobs.