By Rusen Kumar
NEW DELHI: Here is an other good news for social enterprises. The World Bank Group today announced the launch of 2013 India Development Marketplaceand pledged USD $1 million in grants to be awarded on a competitive basis to social enterprises for their development solutions.
Development Marketplace, supported by the World Bank, is a competitive grant-based program. It focuses on nonprofit and for-profit business models which provide innovative solutions to address the most pressing social and economic problems impacting the poor and underserved communities. The selected winners are given financial and advisory support.
In keeping with the government of India’s focus on inclusive growth, the 2013 India Development Marketplace Program is targeted within the states of Madhya Pradesh, Jharkhand and Chhattisgarh.
Each winning organization will receive a grant ranging from $50,000 to $100,000, as well as mentoring and capacity building support over a period of 15 months. The World Bank will also help the winners identify local partners who will guide them in areas of business planning, financial management and organizational development.
“The 2013 India Development Marketplace is a unique platform for innovative social enterprises to scale up development solutions in low income states,” saidOnnoRuhl, World Bank Country Director in India. “IDM 2012 supported organizations such as Rangsutra, which provides livelihood opportunities to artisans in rural communities in Rajasthan and has now expanded its reach to over 1000 new artisans; the Bihar Development Trust has been instrumental in increasing incomes of low income communities by almost 100 percent. This year too, we hope to support unique and innovative solutions that address some of the most pressing needs of under-served communities, especially women, in India,” he added
In the last decade, the World Bank Development Marketplace has recognized and supported a number of breakthrough social enterprises working in India, including organizations such as Goonj– waste resource management, Drishtee– Rural Kiosks for access to public services and Gram Vikas– Biogas electricity for tribal communities in Odisha). In 2011, the Development Marketplace team in conjunction with the International Finance Corporation (IFC), awarded grants to fourteen high performing organizations – many of whom are demonstrating strong results in assisting the poor. IFC continues to be a strategic partner, bringing its keen focus on assisting organizations in developing viable business models.
“The India Development Marketplace is designed to provide financial and capacity building resources for social enterprises as they refine and strengthen their business models,” saidDrew von Glahn, Team Leader of the World Bank Institute’s Development Marketplace program. “We look for these organizations to increase their ability to scale their operations, access follow-on growth funding and ultimately position themselves to have long-term social impact.”
The 2013 India Development Marketplace is inviting proposals that are in line with the objectives of this program. The final selection of winning social enterprise will be through a jury of eminent experts who will oversee and evaluate the proposals received, awarding 15 to 20 proposals with cash grants and technical assistance services for capacity building of their organizations. The specific details on eligibility and assessment criteria are available on the Development Marketplace website www.dm-india.com. The last date of submission of these proposals is February 20, 2013.
The Development Marketplace (DM): The DM is a competitive grants program seeking to support scalable, replicable social enterprise projects with the potential for significantly improving lives and access to public goods and services for underserved poor communities. Projects that demonstrate appreciable impact in these areas are provided financial assistance, backed by strong need-based technical assistance in order that they may scale and/or replicate their efforts. The DM has since its inception in 1998, awarded more than $60 million in grants to more than 1200 innovative projects identified through country, regional and global competitions.