Bhubaneswar, Jan. 7: Social entrepreneurs of the state who wish to take their enterprise to the next level now have a chance here.
The India Development Marketplace (IDM), which is administered by the World Bank and funded by various partners, today invited social entrepreneurs of the state to participate in the competitive grant programme.
The Development Marketplace (DM) is a competitive grant program that identifies and funds innovative social enterprises working on projects with high potential for development impact.
The primary objective of the DM is to identify and support cutting-edge solutions to the most pressing social and economic problems. DM projects offer solutions that deliver results and have the potential to be replicated and scaled-up in a financially sustainable manner.
“We will be identifying Inclusive Business Models that can scale impact in the States of Bihar, Rajasthan and Orissa. Inclusive business models are those offering goods or services and contributing to income generation of the poor in financially sustainable and scalable ways.
They productively integrate those living at the base of the economic pyramid into their value chains as consumers, producers and distributors. Functional areas can be health, water, sanitation, energy, education, financial services, agriculture, vocational training and livelihood support,” said Subrata Barman, a representative of the IDM programme.
The India DM will award 13 winners, selected by a jury of experts. Each winning project will receive $ 50,000 in two installments over 24 months. The IFC Advisory Services will monitor the grant implementation over the 24-month period. Organisations may be considered for second stage financing as well, Barman added.
The deadline for submitting applications is January 23, 2011 and the 30 finalists will be informed of their selection by Monday, March 7, 2011. The winners will be announced at the Development Marketplace event on April 7 and 8 in Jaipur, Rajasthan.
An information session in Orissa will be held on January 11 at the Nabakrushna Choudhury Centre for Development Studies Institutional Area, the organisers said.