New venture

Jamshedpur, March 13: It is case of California Calling for XLRI.

The B-school will manage and support the global social benefit incubator (GSBI), a programme of Santa Clara University, California, which has been on since 2003.

The two premier learning hubs inked an MoU for five years on March 11.

As the programme’s Indian partner, XLRI will identify and recommend Indian social entrepreneurs to the experts in the varsity, opening doors to California and Silicon Valley.

“Many mushrooming social entrepreneurs need help in the initial stages to establish themselves. The MoU will help XLRI promote social entrepreneurship in India. Projects will be handpicked for the incubator programme. Best of all, the programme will also help new ventures to attract investors,” said Madhukar Shukla, chairperson, Social Entrepreneurship Trust and co-ordinator of the partnership.

The steel city management cradle is the first to partner with the US varsity. Asian Business School, Manila, Philippines, will be the next.

Every year, the US varsity’s programme screens and selects about 15-20 social ventures from across the globe and incubates them by providing technical inputs, mentoring support and funds to make them investor-ready.

Over the years, there have been many success stories such as Gram Vikas, Jaipur Rugs, Drishtee, Mother Earth, Husk Power Systems, Video Volunteers and Naandi Foundation.

In all, 30 Indian organisations have gained from this unique academic nurturing.

Many often need mentoring even after they graduate from the varsity’s programme. XLRI’s faculty will provide this post-incubation support to the social ventures.

According to Shukla, “With about 30 such social ventures in India, which range from well-established ones to start-ups, there is an enormous potential to facilitate mentoring relationship among the alumni of the programme.”

XLRI will also host the GSBI Alumni Network in India, and will provide it with opportunities for interface and access to innovation resources through faculty and alumni networks.

XLRI and its Californian partner also plan to collaborate to develop case studies of the programme’s Indian alumni ventures to understand what makes some enterprises tick.