News: ALC India launches program for aspirational entrepreneurs

Entrepreneurship

ALC India launches program for aspirational entrepreneurs

Transforming India Initiative (TII) - unique social entrepreneurship fellowship program is launched by ALC India. IT integrates both academics & incubation.
ALC India launches program for aspirational entrepreneurs

ALC India, a social enterprise, has launched a program for young entrepreneurs called as ‘Transforming India Initiative’ (TII), which is a two- year social entrepreneurship fellowship program.  The program is eligible for fresh graduates who are aspiring entrepreneurs and young professionals who want to make an impact in the society. 

The program is designed in a way to enable budding entrepreneurs with in-depth entrepreneurial experience and practical knowledge of running a venture. After completion of the program, they will receive incubation and funding support for a period of 6 years to set up profitable social enterprises. 

Krishnagopal Grandhi, CEO, ALC India says, “In the current economic scenario, entrepreneurs are key to job creation, at the same time they need to evolve solutions that can address the most pressing challenges facing the country today. With the Transforming India Initiative, we are looking for talented youngsters who have the passion and grit to become social entrepreneurs. We will support them with not just education but also with incubation support to set up their enterprises after completing the fellowship.”

Transforming India Initiative has received support from NITI Aayog and will be offered in partnership with prestigious academic institutes- IRMA & DMI Patna.

Amitabh Kant, CEO, Niti Aayog says, “Entrepreneurship is an engine of economic and social change as it opens up opportunities for job and wealth creation for those in needs. Hence it is important that we equip the youth of this country to build social enterprises that will create value for the economy and the country. I am sure that TII will be ground-breaking initiatives that will encourage talented young people to join the program. I am hopeful that initiatives like TII will set an example and will encourage them to contribute to the country and the larger society”

TII is a unique initiative in the sense that it integrates academics & incubation. It will provide end-to-end incubation support, including seed funding for setting up an enterprise, post-fellowship. At the end of the program, selected entrepreneurs, as decided on merit by the independent committee, will receive a financial grant totaling INR 15 Lacs as seed fund for their social ventures

Each Fellow will be placed with an enterprise in the sector of their choice and will be paired with a mentor aligned to their interests and aspirations.

A graduate degree is a minimum requisite to apply for the program. Graduates from any fields and professionals with work experience are eligible to apply for this program. The first batch will have an intake limit of 60 candidates. Each applicant will go through a four-step process comprising of online application, psychometric & aptitude test, telephonic interview and a two-day direct assessment. 

Since, its inception in 2005, ALC India has impacted 65,000 households in 17 States through 300 Projects. The organization has facilitated people in the unorganized sector to build sustainable livelihoods and double their incomes. An ALC India aid to incubate enterprises that the communities own - typically cooperatives or producer companies and develops their technical, managerial and entrepreneurial skills. It is a 12-year old social enterprise that has been incubating companies belonging to the economically marginalized segment. 

 

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Topics: Entrepreneurship

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