Following a rigorous process of screening and online assessment of 264 proposals received this year, 2011 India Development Marketplace has announced the 14 award-winning business models at a ceremony hosted to honor the winning social enterprises who will receive a grant of US$50,000 (about Indian Rs 22,47,500) each.
INDIA DEVELOPMENT MARKETPLACE COMPETITION 2011 WINNERS
Sanjay Pradhan, Vice President, World Bank Institute said, “This competition marks the beginning of a multi-year World Bank collaboration with Indian social entrepreneurs and the national and state-level government to connect social entrepreneurs with a growing pool of external investors, external funders, and providers of capacity building services.” Representatives of the 14 Winning Social Enterprises of 2011 India Development Marketplace Competition at Jaipur, India. The prize money will be disbursed in two installments over 24 months while IFC will supervise the grant implementation over the entire duration. The funds will be used to invest in all activities/assets necessary to establish the viability of the business model such as testing, quality assurance, certification, consulting services, and test marketing services. Linking early-stage social enterprises to next-stage financial aid through targeted grant support and advisory services is the key focus of India Development Marketplace. The initiative will support grassroots organizations to refine and build their business models to ensuresustainable impact over the long term. persons in 12 slums in Rajasthan and Orissa
