Funding


Millennium alliance to promote social innovations

Dr.T.P.Sethumadhavan

  At a time when entrepreneurship is acquiring momentum across the globe, Innovation is emerging as the prerequisite for establishing startup ventures. There are different types of innovations which include science, technology and social innovations. Social innovation plays a key role in global development. Social innovators address bottom of pyramid for a social cause. It can be related to education, health, water, sanitation, agriculture, food security, energy or climatic changes. Millennium alliance (MA) is an innovation partnership for global development. Federation of Indian chambers of commerce and industry (FICCI) is promoting MA with the support of USAID, World Bank, ICICI Foundation, UK Aid, Technology development Board of Department of Science and Technology of Govt of India and face book.
Millennium Alliance calls for innovative technologies/business models for its round five programmes both in pilot and growth stage that are focussed on social impact for low income population. Applicants should demonstrate innovative developmental solutions to beneficiaries at the bottom level. MA looks for projects which have potential to substantially influence the population in a scalable and financially sustainable manner. It aims to make an impact in low income states, lower income districts of developed states or developing countries.MA will provide innovators with services such as grants, seed funding, incubation and accelerator services, networking opportunities, business support services, knowledge exchange and technical assistance which will facilitate access to equity, debt and other capital. It aims at identifying game changing innovations, testing promising solutions and scaling up of sustainable innovations.
MA has three stages which include piloting or testing an innovation, scaling or replicating an innovation which has been successfully piloted and innovation for developing countries. Stage one will get Rs 30 lakhs and Stage two will get Rs One Crore as grant in aid. Rs 10 lakhs will be earmarked for capacity building.
Priority sectors include basic education, health, water and sanitation, agriculture and food security, clean energy and climatic change. Basic education include innovations in early grade reading or early literacy, Health sector include family planning, reproductive health, maternal and child health. Innovations in solid liquid water management and behaviour changes related to sanitation will be addressed under water and sanitation. Agriculture and food security focus on production, access and uptake, storage and processing services and innovative agri technologies. Clean energy and climate change requires innovations for pro poor mitigation and adaptation of projects, access to market and finance. Applicants can also include other innovations which can make social impact. These innovations can be of product, process, business models or delivery system.
Innovators, researchers, industry and institutions can apply through online. For more details visit www.millenniumalliance.in or email info@millenniumalliance.in

 

 

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