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N/Core launches incubation programme for non-profit startups

By Shruti Jain

  • 18 Jul 2017
N/Core launches incubation programme for non-profit startups
Credit: Thinkstock

N/Core, an incubator for non-profit startups working towards poverty alleviation, has invited applications for a six-month-long accelerator programme for early-stage non-profits.

The first cohort will comprise around 10 non-profits. N/Core will provide each of them a seed fund of Rs 10 lakh, it said in a statement.

The Bengaluru-based incubator will accept applications for the programme till August 6 from startups that are trying to tackle problems related to poverty in India.

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Select startups will be mentored by N/Core’s partners, including Sanjay Purohit, former chairman of Infosys Consulting; Maneesh Dhir, partner at Social Venture Partners and former managing director of Apple India; K R Lakshminarayan, chief endowment officer of Azim Premji Foundation; and Ujwal Thakar, former CEO of Pratham and GiveIndia.

N/Core has also formed a corporate social entrepreneurship (CSE) council with leaders from several organisations to support its incubatees and promote innovation-led problem-solving in the non-profit sector. The CSE council members include Anil Kumar, CEO, Axis Bank Foundation; Namita Vikas, group president and MD, Yes Bank; and Biren Bhuta, chief of corporate social responsibility at Tata Steel.

N/Core plans to mentor 100 non-profits over five years by incubating around 10 startups twice every year.

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In April this year, N/Core concluded its 14-day accelerator programme which attracted 583 applications from across India, the US and Kenya, of which 20 non-profits were selected.

N/Core was started in January this year by Nudge Foundation, which is backed by Infosys co-founder Nandan Nilekani and Tata Trusts, among others.

Nudge Foundation was founded in July 2015 by Atul Satija who was earlier chief revenue officer at InMobi. The foundation runs Gurukuls, a residential school for underprivileged men and women where they are taught livelihood and life skills.

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Several incubators and accelerators have been trying to help fledgeling startups find their feet. Most of them, however, focus on for-profit startups.

In January, Yes Bank launched Yes Fintech, a business accelerator programme, in collaboration with startup incubator T-Hub, speed scaling platform Anthill and fintech platform Let’s Talk Payments.

In December 2016, early-stage venture capital fund advantEdge launched a six-month-long incubation programme for startups at its facility in Noida. It also tied up with IBM, Amazon, Zendesk and Razorpay to provide various services to startups.

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