The Michael and Susan Dell Foundation is looking to set up an incubator for startups with solutions for the underserved and the unserved segments. The foundation is in talks with IIM-Ahmedabad’s Centre for Innovation Incubation and Entrepreneurship (CIIE) for the same.
The incubator will look at earlystage companies that offer financial inclusion, digital empowerment, job creation and services in other such impact areas, according to Rahil Rangwala, the director for family economic stability at Michael and Susan Dell Foundation. The foundation will also offer seed funding to the startups.
The foundation also recently supported a non-profit incubator at IIM Bangalore and struck a partnership with startup incubator UnLtd to back early-stage social enterprises working on skill development and employability of low-income youth.
Rangwala did not specify how much amount the foundation has earmarked for the upcoming incubator. The foundation last year committed $50 million (Rs 332.6 crore approximately) for India investments over three years.
The foundation has so far invested in a range of companies in the education and financial services sector, including edtech startups OnlineTyari and ConveGenius, microfinance company Swadhaar, and debt-financing company Kinara Capital among several others. It also recently invested in intra-city logistics startup Blowhorn and industrial training company Skillveri as part of its job creation focus.
By Baishakhi Dutta
