Sankalp Forum announces prizes of USD 55,000 for Sankalp Awards 2014

29th January 2014 | By Mouseworld Now Correspondent |

New Delhi, India, January 29, 2014: For the second year running, Sankalp Forum announced partnerships with Global Alliance for Clean Cookstoves and Artha Platform towards offering cash benefits and business support to promising social enterprises selected through the Sankalp Awards, India’s most prestigious in their category. Under this partnership, Artha Platform and Global Alliance have extended their support for the prizes of USD 55,000. The partnership will focus on spurring innovation in emerging markets by catalyzing investments & other resources into promising startups.

Artha Platform has aligned its support towards the Sankalp-Artha Grand Prize providing a cash grant investment of USD 40,000 to the grand winner of Sankalp Awards 2014. Global Alliance for Clean Cookstoves will offer the recognition ofSankalp-Alliance Award for Innovation in Clean Cooking Solutions 2014and a cash grant of USD 15,000.

“Spurring innovation in emerging markets through increased investment has been a core strategy for the Artha Platform.Partnering with Sankalp Forum, we aim to bring greater recognition and resources to early stage enterprises, while building an ecosystem infrastructure that makes it easier for investors to discover and act,” said Audrey Selian, Director – Artha Platform.

Director of Sankalp Forum Aparajita Agrawal said, “We worked with Artha and Global Alliance in the past, and have seen how effective these partnershipshave been towards accelerating scale by opening up new networks & bringing wide-spread recognition to early stage startups.”

The winners of both awards will be selected by specially constituted juries of investors and industry leaders and will be recognized at the 6th Annual Sankalp Summit scheduled for April 9 – 12, 2014 in Mumbai in 2014.

Sankalp Awards are India’s leading social enterprise recognition platform. This year, Sankalp Awards received applications in high-impact categories including Agriculture, Food & Livelihoods; Clean Energy and CleanTechnology; Education and Vocational Training; Financial Inclusion; Health, Water & Sanitation; Technology for Development; Women Empowerment who will compete for the grand prize.

Of all the applications received, 45% enterprises are led by women entrepreneurs, and 20% of them originate from low income states and northeast India. Furthermore, 85% of the applicants are expecting to raise a cumulative institutional capital of INR 1500 Crores approximately in the next one year; out of which 53% demand is for debt financing and balance is an equity demand.

 

© Mouseworld Now News Service

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