The startup driving this revolution is Blowhorn—the Michael & Susan Dell Foundation’s latest investee. The foundation announced that it would invest $1.25 million in the organization earlier this month, together with IDG Ventures India and existing investors, Draper Associates and Unitus Seed Fund. Blowhorn plans to use this investment to expand to eight Indian cities and employ more than 25,000 truck drivers over the next 24 months.
Program: Family Economic Stability
Social enterprises benefit from technology in many ways, especially considering the cost imperatives and inadequacy of resources they face. The right technology can help organizations enhance quality, fuel innovation, and aid efficiency, while also reducing the cost of operations through better delivery. However, though technology is a significant facilitator, it cannot be an independent solution for the problems that these enterprises are trying to address.
Raised USD $3.65 mn from IDG Ventures, Michael & Susan Dell Foundation, Draper Associates and Unitus Seed Fund to expand to 8 cities by 2019. NEW DELHI—March 07, 2017—Intra-city logistics startup Blowhorn has raised USD $3.65 mn (INR 25 crores) in series A funding from IDG Ventures India, together with the Michael & Susan Dell … Continued
Most social ventures begin with minimal financial resources and do not always attract the best talent. To be successful, organizations need to invest in hiring the right team from the start. In our work in the education sector, test preparation startup Avanti used this approach to deliver coaching for competitive exams to low-income students.
Michael Dell once said, “Ideas are a commodity. Execution of them is not.” This is especially relevant for social enterprises that sell affordable products and services at small margins to low-income users. Scale, sustainability and replicability become crucial for the long-term success of such companies.
New Delhi, January 23, 2017 – The India Educational Investment Fund (IEIF), an early stage impact investment fund focused on the education sector, announced two new investments in ‘ChipperSage’ and ‘Select Jobs.’ ChipperSage offers high impact English proficiency solutions aimed at significantly transforming English comprehension and communication for school students. Select Jobs is a job … Continued
The government’s “Make in India” initiative aims to transform India into a global manufacturing hub rivaling centers of excellence like China and Germany. Achieving this would mean that manufacturing would contribute to at least 25 percent of India’s GDP. However, experts predict a shortfall of 2.2 million trained welders by 2020. This mismatch between demand and supply could bring the entire program to a halt.
Skillveri Pvt. Ltd. has raised an investment of INR 8 crores from the Michael & Susan Dell Foundation, together with Ankur Capital. Pioneers behind the first welding simulator made in India, Skillveri will leverage this investment to enable training of 500,000 youth for well-paying aspirational manufacturing jobs over the next five years. It also expects … Continued
Our earliest lesson was that sector knowledge is critical for social entrepreneurship. In 2006, the foundation made its first impact investment in Ujjivan Financial Services, a microfinance company for the urban poor. At that time, urban microfinance in India was considered a risky venture.
Since the foundation started its work in India in 2006, we’ve had one overarching goal: To provide urban youth and families with the tools they need to break the cycle of poverty. For us, in impact investing, this has often meant taking the road less travelled to find the solutions that work. These solutions often come from models that other investors deem “too risky,” but sometimes these are the models that have the greatest potential.